Infinitum Electric, a company which has developed highly efficient, durable, lightweight and cost-effective electric motors has secured USD 1.8 million in Series A Financing to bring its advanced electric motors to market. Its motors are made with patented printed circuit board (PCB) stator technology and integrated control systems. The main investor in the financing round was Cottonwood Technology Fund. This brings the total amount of funds that Infinitum has received to USD 2.7 million. The company plans to use the fresh infusion of funds launch an HVAC-specific, fully-integrated motor. It will also devote a part of the funds received to increase research and development efforts for applications of the motors in the electric vehicle and Oil and Gas markets.
Commenting on the investment, Dave Blivin, Managing Director at CTF said that Infinitum Electric has developed an approach that is clearly disruptive to an industry and technology that has remained essentially unchanged for many years. He said that it was exciting to support Infinitum’s effort to blaze a new trail in the electric motor industry. With many industries like hydraulics and transportation converting to the use of electric motors, the timing of the financing round was good. The kind of motor that Infinitum has developed, which is more compact, lighter and produces more power will offer a great value proposition in the current market.
Infinitum Electric has already received five patents and has 11 patents pending for its disruptive PCB stator technology and control systems. Its motors definitely offer a cost advantage over conventional motors. Infinitum works with leading motor and generator manufacturers and other OEMs to customize its technology to suit different applications and market segments. Initially, Infinitum will focus on air moving applications in the HVAC industry, and will form partnerships with some of the biggest players in the industry. The company’s next plan is to expand into the Electric Vehicle and Oil and Gas segments.
Commenting on the successful financing round, the company’s CEO, Ben Schuler said that Infinitum’s patented circuit board stator is what set it apart and positioned it well for success.
“Our motor technology provides superior advantages for companies looking for improved performance. The electric motor market is a $150 billion industry annually, over a century old, and many markets within the industry are trying to consume and create power more efficiently. Some markets, like Electric Vehicles, are in the process of electrifying completely.”
Currently, the IE5 efficiency standard is considered to be the highest efficiency class and Infinitum’s electric motor efficiency exceeds IE5 efficiency. Another beneficial feature of the motors and generators Infinitum makes is their customizable design. This allows for greater optimization when compared to any other electric motor, with the outcome being costs that are up to 25 percent lower, up to 60 percent less weight, higher levels of durability and better IoT connectivity.
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