Air-core motor company Infinitum Electric has announced US$80 million in Series D funding to scale motor production to meet increasing demand. With this latest round of funding, Infinitum plans to expand high-volume production out of its facility in Tijuana, Mexico, and will double its US workforce to 50 in 2022.
Riverstone Holdings led the funding round with Alliance Resource Partners, Applied Ventures and existing investors Cottonwood Technology Fund, Chevron Technology Ventures, Aventurine Partners, Energy Innovation Capital and Ajax Strategies participating. This brings the company’s total funding to date to US$135m.
“As industrial equipment, cars, aircraft and buildings are rapidly electrifying, our motor systems offer a path to reduce electricity demand and carbon footprint,” said Ben Schuler, founder and CEO of Infinitum Electric. “Partnering with Riverstone Holdings, Alliance Resource Partners and our other new and existing network of investors puts us in a strong position to scale production [and]deliver product.”
Infinitum Electric’s air-core motor design replaces the iron used in traditional motors with a lightweight, printed circuit board. This enables the same power generation from a motor that is half the size and weight of conventional motors.
“Infinitum Electric’s disruptive technology offers tremendous growth potential and aligns well with Applied Ventures’ investment strategy,” said Dr John Wei, investment director at Applied Ventures. “Their high-efficiency motors could have a broad and meaningful impact on sustainability across multiple industries – from manufacturing to transportation.”