Advanced Electric Machines Group (AEM), a UK-based manufacturer of rare earth and magnet-free electric motors, has secured £16 million of funding to support the expansion of its product portfolio and accelerate development of new electric propulsion solutions.
Its technology is applicable to a wide range of applications, including passenger car, motorcycle, ATV, the full range of trucks, buses and construction machinery and into the marine sector,
The company's motors (which can be used for both primary and secondary drive applications) eliminate the need for permanent magnets and rare earth materials, including replacing copper windings with aluminium, helping customers reduce supply-chain risk while delivering competitive performance, efficiency and cost with reduced weight and improved recyclability.
By eliminating permanent magnets, customers can reduce their exposure to the supply-chain challenges and the price volatility associated with rare earth materials.
AEM’s technology portfolio includes advanced control strategies, aluminium coils, and higher-speed, smaller, lighter designs that are being productionised. AEM manufactures its motors at its facility in Washington, where rare earth and magnet-free technology can already be produced at commercial scale.
The company is leveraging this proven manufacturing capability to support the development and future production of higher-torque products aimed at some of the most demanding electric powertrain applications.
The funding round was led by existing shareholders Barclays Climate Ventures, PXN Ventures, Northstar Ventures and the Low Carbon Innovation Fund, alongside participation from new investors. Their equity investment is complemented by loan support from Innovate UK, and allows for expansion of facilities, expertise and production capability in Washington.
According to Dr James Widmer, CEO and co-founder of AEM, OEMs are increasingly looking for motor technologies that can deliver performance, cost competitiveness and manufacturing scalability without dependence on rare earth materials and magnets.
“Our technology has already demonstrated that this is possible in production environments. This funding enables us to accelerate development of our next-generation of products and expand our offering into higher-power and higher-torque applications.
We are building on a platform that is already proven in production and the field and designed to help customers strengthen supply-chain resilience while meeting increasingly demanding performance requirements.”
Greg Debicki, Director, Principal Investments at Barclays Climate Ventures, said:
“Developed at Newcastle University, AEM’s innovative motor platform has the potential to support businesses around the world, while reinforcing the UK's reputation for advanced engineering.
This investment will help accelerate AEM's growth and we are glad to support the expansion of this regional champion.”
Alex Buchan, Investment Director at Northstar Ventures, said:
“The North East has a long-held reputation for producing landmark technological innovations capable of operating in the global arena. Ensuring companies at this stage have access to the capital required to scale is vital.
Northstar Ventures has worked with AEM through its evolution and has always been committed to backing the companies whose technologies will be the driver of future prosperity.”
The investment will support development of AEM's next-generation high-torque motor platform, extending the company's existing technology into more demanding commercial vehicle and industrial applications.
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