Infinitum, creator of the sustainable air-core motor, announced it has extended its Series E with $35 million in funding from Marunouchi Innovation Partners and Rice Investment Group. The additional funding brings the company’s total Series E funding to $220 million, and will be used to scale the company to meet customer demand and drive decarbonization.
Infinitum’s air-core motor systems can sustainably power energy-intensive applications used in data centers, hospitals and buildings, as well as logistics, manufacturing and industrial facilities with less electricity, carbon emissions and waste.
“We believe Infinitum’s sustainable air-core motors are a proven climate tech solution with significant customer traction that can make an immediate impact in reducing electricity consumption across a broad range of applications,” said Ichiro Miyoshi, CEO and Chief Investment Officer, Marunouchi Innovation Partners. “We look forward to bolstering the company’s rapid acceleration and decarbonization efforts to support our goals of achieving a carbon neutral society.”
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When compared to traditional motors, the Infinitum motor system consumes 10-65% less energy, is 50% smaller and lighter and uses 66% less copper. Infinitum’s motor systems have an integrated variable frequency drive and can be customized to meet an application’s specific power and torque requirements to reduce strain on the electric grid by drawing less power. Infinitum motor systems use fewer raw materials in manufacturing and modular design allows for motors to be easily serviced, repaired, remanufactured or recycled to keep motors in service and out of landfills.
The implementation of advanced motor technology in the US industrial and commercial sectors has the potential to save 127 terawatt-hours per year (TWh/yr), translating into cost savings of $14.7 billion and reductions of 90.2 MMT of CO2, according to the U.S. Department of Energy.
“Millions of electric motors are needed each year to power AI, cool our buildings and electrify industrial workloads, and it’s critical for the planet that we choose to implement advanced, high-efficiency motors rather than conventional motors,” said Ben Schuler, founder and CEO, Infinitum. “We look forward to further expanding our company to meet customer demand and accelerate production of our sustainable motor systems.”
SOURCE: Businesswire