A developer of high-efficiency, durable, lightweight and cost-effective electric motors has closed a $1.8 million (£1.4m) financing round, led by Cottonwood Technology Fund (CTF).
Infinitum Electric produces patented printed circuit board (PCB) stator technology and integrated control systems, which use copper etchings to reduce the weight of components by as much as 90%.
The firm claims they are around a quarter cheaper than market alternatives and offer enhanced Internet of Things connectivity.
It plans to leverage the new financing to launch a motor specifically for Heating, Ventilation and Air Conditioning (HVAC) use, as we increase research and development efforts for applications in the electric vehicle (EV) and oil and gas markets.
Ben Schuler, CEO of Infinitum Electric, said: “Our motor technology provides superior advantages for companies looking for improved performance.
“The electric motor market is a $150 billion (£117bn) industry annually, over a century old and many markets within the industry are trying to consume and create power more efficiently. Some markets, like EVs, are in the process of electrifying completely.”