Advanced Electric Machines re-raises with $21M Series B for rare earth-free motors
What's the deal? Advanced Electric Machines (AEM), a UK manufacturer of rare earth and magnet-free electric motors, has raised a $21 million Series B. Existing shareholders Barclays Climate VenturesDealroom has a profile for this one. Try Dealroom →, PXN VenturesDealroom has a profile for this one. Try Dealroom →, Northstar VenturesDealroom has a profile for this one. Try Dealroom →, and the Low Carbon Innovation FundDealroom has a profile for this one. Try Dealroom → led the round, alongside new investors and loan support from Innovate UK.
Why now? The re-raise lands as carmakers hunt for motor technology that avoids the price volatility and supply-chain risk of rare earth materials. "OEMs are increasingly looking for motor technologies that can deliver performance, cost competitiveness and manufacturing scalability without dependence on rare earth materials and magnets," said chief executive officer and co-founder James WidmerDealroom has a profile for this one. Try Dealroom →.
What's the endgame? AEM's motors drop permanent magnets and rare earths, and swap copper windings for aluminium — cutting weight and improving recyclability. The new funding will develop a next-generation high-torque motor platform aimed at demanding commercial vehicle and industrial applications.
The product: The company's portfolio spans advanced control strategies, aluminium coils, and higher-speed, smaller, lighter designs. Its technology covers passenger cars, motorcycles, trucks, buses, construction machinery, and marine, for both primary and secondary drive uses.
The expansion: AEM will scale its facility in Washington, in England's North East, where its magnet-free motors already run at commercial scale. The capital funds new facilities, expertise, and production capability for higher-power products.
The signal: Developed at Newcastle University, AEM is being backed as a regional engineering champion. "Ensuring companies at this stage have access to the capital required to scale is vital," said Alex BuchanDealroom has a profile for this one. Try Dealroom →, investment director at Northstar Ventures — a nod to the growing investor appetite for supply-chain resilience in electric mobility.
Read more: Tech.eu
Image credit: jurvetson
