UK-based startup, Advanced Electric Machines (AEM), has secured an impressive £23 million in funding to increase production of its innovative electric vehicle motors. What sets AEM’s motors apart is their unique composition, as they do not contain rare earths or copper, making them fully recyclable. This groundbreaking technology has the potential to transform the electric vehicle market by minimizing environmental impact and maximizing efficiency.
The Series A funding round was led by Legal & General Capital, a unit of Legal & General, and Barclays Sustainable Impact Capital, an initiative dedicated to investing in climate-related startups. With the financial backing of these prominent institutions, AEM is well-positioned to accelerate its operations and bring its innovative motors to a broader market.
Based in Washington, in the industrial northeast of England, AEM is already making waves with its rare earth-free motors. These motors are currently being used in electric buses and other vehicles in Europe, North America, and Asia. CEO James Widmer shared that the latest investment will pave the way for AEM to develop an electric vehicle motor that is not only copper-free but also suitable for both passenger cars and commercial vehicles. According to Widmer, these advanced motors have the potential to increase the range of an electric vehicle by at least 10%.
While AEM is already collaborating with Bentley, Volkswagen’s luxury brand, in the development of electric vehicle motors, they are also engaged in active discussions with other car manufacturers in Europe and beyond. Widmer refrained from disclosing specific details at this stage, but the potential for significant partnerships is certainly promising.
It is well known that European, American, and Japanese car manufacturers have been actively seeking alternatives to rare earths in their electric vehicle motors. China currently dominates the mining and processing of these metals, creating a strong incentive for other nations to diversify their supply chain. Widmer explained that current electric vehicle motors using rare earth permanent magnets typically contain around 10 kilograms (22 lbs) of copper. In contrast, AEM’s motors, free from both rare earths and copper, provide a more sustainable solution.
In addition to being environmentally friendly, AEM’s motors offer another advantage over their traditional counterparts. Due to copper’s high melting point, recycling motors that contain this metal can be challenging. However, AEM’s motors, made with aluminum and steel, can be easily recycled after being melted in a furnace, further contributing to the company’s sustainability goals.
With its commitment to sustainability and revolutionary technology, AEM has attracted notable investments and is poised to lead the electric vehicle industry. As the demand for eco-friendly transportation continues to grow, AEM’s innovative motors have the potential to shape the future of electric vehicles and create a more sustainable future for all.
FAQs
1. What makes Advanced Electric Machines’ motors for electric vehicles unique?
AEM’s motors are exceptional because they do not contain rare earths or copper, making them fully recyclable. This sets them apart from traditional motors and contributes to a more sustainable future.
2. What is the significance of AEM’s recent funding round?
The £23 million funding round, led by Legal & General Capital and Barclays Sustainable Impact Capital, will enable AEM to expand its operations and bring its innovative motors to a broader market.
3. How do AEM’s motors benefit electric vehicles?
AEM’s motors have the potential to increase the range of an electric vehicle by at least 10% compared to traditional motors. This improvement can significantly enhance the efficiency and practicality of electric vehicles.
4. Are AEM’s motors suitable for both passenger cars and commercial vehicles?
Yes, AEM is actively developing a motor for electric vehicles that is suitable for both passenger cars and commercial vehicles. This expansion broadens the potential applications and impact of their technology.
5. How do AEM’s motors contribute to sustainability?
AEM’s motors, made with aluminum and steel, can be easily recycled after being melted in a furnace. Unlike motors containing copper, which are difficult to recycle, AEM’s motors offer a more sustainable solution for the industry.