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Press Releases

May 17 2022

Infinitum Electric Raises $80M in Series D Funding Led by Riverstone Holdings to Scale Production of Sustainable Motors

Infinitum Electric Raises $80M in Series D Funding Led by Riverstone Holdings to Scale Production of Sustainable Motors

Funding accelerates scale-up of commercial and industrial motor production, while supporting commercialization of new motor for EV market

AUSTIN, Texas— May 17, 2022 —Infinitum Electric, creator of the sustainable, breakthrough air-core motor, today announced $80 million in Series D funding to scale motor production to meet increasing demand. Infinitum Electric will use the investment to vertically integrate and automate production of its motors for the commercial and industrial market segments, and complete development and commercialization of a traction motor for the rapidly growing electric vehicle market, where its exceptional breakthrough power density can significantly extend the range of electric vehicles.

Riverstone Holdings led the round with Alliance Resource Partners, Applied Ventures, LLC, the venture capital arm of Applied Materials, Inc., and existing investors Cottonwood Technology Fund, Chevron Technology Ventures, Aventurine Partners, Energy Innovation Capital and Ajax Strategies participating, bringing the company’s total funding to date to $135 million. Other current shareholders include industry leaders Rockwell Automation and Caterpillar Venture Capital.

“As industrial equipment, cars, aircraft and buildings are rapidly electrifying, our revolutionary motor systems offer a path forward 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 representing leaders in the energy, semiconductor and industrial sectors, puts us in a strong position to scale production, deliver product and impact how the world sustainably consumes and generates power for the next generation.”

Since the launch of its IEs Series of motor systems in 2020, Infinitum Electric has secured customer agreements with more than $900 million in potential orders across a wide variety of companies in heavy industry, manufacturing, HVAC and transportation that aim to reduce energy and emissions with smaller, lighter, quieter, higher-efficiency motors. Infinitum Electric’s patented air-core motor design replaces heavy iron used in traditional motors with a lightweight, printed circuit board to generate the same power in half the size and weight, at a fraction of the noise and carbon footprint created by conventional motors.

“Decarbonization across commercial, industrial and consumer markets driven by ESG and the energy transition creates wide scale opportunities for Infinitum Electric’s motors to power a new generation of equipment with greater performance, and at a fraction of the carbon footprint of traditional motors,” said John Staudinger, managing director of Riverstone Holdings. “We’re excited to welcome Infinitum Electric to our portfolio and partner with Ben Schuler and his extraordinary team as they scale production of motors that are better for the planet and people.”

Electric motors consume more than half of the world’s electricity today, and 800 million motors are sold annually worldwide, a number that has been increasing by 10 percent each year. Infinitum Electric motors are 10 percent more efficient than conventional motors and offer a fully integrated system: motor, variable frequency drive (VFD) and embedded IoT in a single compact package.

“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.”

With this latest round of funding, Infinitum Electric plans to expand high-volume production out of its facility in Tijuana, Mexico and will double its US workforce in 2022 with an additional 50 employees across its Round Rock and Spokane, Washington offices. Infinitum Electric also moved its headquarters to a larger facility in Round Rock, Texas to support the company’s rapid growth and expanding operations.

To learn more about Infinitum Electric, visit www.infinitumelectric.com.

Advisors
Evercore Partners acted as the exclusive placement agent for Infinitum Electric in connection with this capital raise.

About Infinitum Electric
Infinitum Electric has raised the bar for a new generation of motor that is better for the planet and people. The company’s patented air-core motors offer superior performance in half the weight and size, at a fraction of the carbon footprint of traditional motors, making them pound for pound the most efficient in the world. Infinitum Electric motors open up sustainable design possibilities for the machines we rely on to be smaller, lighter and quieter, improving our quality of life while also saving energy. Based in Austin, Texas, Infinitum Electric is led by a team of industry experts and pioneers. To learn more, visit www.infinitumelectric.com.

About Riverstone Holdings LLC
Riverstone is a global energy and power-focused private investment firm founded in 2000 by David M. Leuschen and Pierre F. Lapeyre, Jr. with over $43 billion of equity and debt capital raised to date. Riverstone conducts buyout and growth capital investments in the energy industry, with a leading franchise in low-carbon investing. The firm’s pioneering investment vehicles in low-carbon platforms – which include mobility, battery materials, solar, wind and renewable fuels – span over 15 years, with over $6 billion committed to the category since 2009 and over $1.6 billion raised across its low-carbon strategies in 2020 alone. With offices in New York, Menlo Park, London, Houston and Mexico City, the firm has executed over 200 transactions across North America, South America, Europe, Africa, Asia, and Australia.

About Alliance Resource Partners, L.P. (NASDAQ: ARLP)
ARLP is a diversified energy company that is currently the second largest coal producer in the eastern United States. ARLP also generates operating and royalty income from mineral interests it owns in strategic coal and oil & gas producing regions in the United States. In addition, ARLP is positioning itself as an energy provider for the future by leveraging its core technology and operating competencies to make strategic investments in the fast-growing energy and infrastructure transition.

About Applied Ventures
Applied Ventures, LLC, the venture capital arm of Applied Materials, invests in technology companies across the Materials to Systems™ stack that have the potential to deliver high growth and exceptional returns. Its investments help develop technologies and markets that provide natural extensions to Applied Materials’ core business and stimulate the growth of applications for semiconductors, displays and related products and services. Learn more at www.appliedventures.com or follow @Applied_VC.

Written by Matt Rasmussen · Categorized: Press Releases

May 16 2022

Infinitum Electric Exec to Speak on Sustainable EV Motors at CTI Symposium

Infinitum Electric Exec to Speak on Sustainable EV Motors at CTI Symposium

EV industry leaders convene to discuss challenges, opportunities and solutions for Net Zero emissions

Austin, TX – May 16, 2022 – Infinitum Electric today announced its executive will be speaking at the CTI Symposium USA, an event focused on automotive EV and HEV drives and components being held May 18-19, 2022 in Novi, Michigan. Infinitum Electric’s VP of Technology Paulo Guedes-Pinto will discuss how to unlock the benefits of air-core motors for the automotive market. 

WHAT:  CTI Symposium Speaking Session with Infinitum Electric
Unlocking the benefits of air-core motors for the automotive market
Infinitum Electric’s Paulo Guedes-Pinto will discuss the benefits of bringing rapid prototyping and power density to automotive engineers. He will cover how oil-cooling breakthroughs deliver substantial power density improvements and new motor topology that eliminates loss, noise and unnecessary weight.

WHO: Paulo Guedes-Pinto, vice president of technology, Infinitum Electric

WHEN: May 18, 2022, 2:15 pm EDT

WHERE: Visit the CTI Symposium USA website for more information.

About Infinitum Electric
Infinitum Electric has raised the bar for a new generation of motor that is better for the planet and people. The company’s patented air-core motors offer superior performance in half the weight and size, at a fraction of the carbon footprint of traditional motors, making them pound for pound the most efficient in the world. Infinitum Electric motors open up sustainable design possibilities for the machines we rely on to be smaller, lighter and quieter, improving our quality of life while also saving energy. Based in Austin, Texas, Infinitum Electric is led by a team of industry experts and pioneers. To learn more, visit www.infinitumelectric.com.

Written by infinitum · Categorized: Press Releases

Apr 13 2022

Infinitum Electric Expands Leadership Team and Moves to New Facility to Support Rapid Growth


Infinitum Electric Expands Leadership Team and Moves to New Facility to Support Rapid Growth

Five industry heavyweights deepen company’s leadership while new facility accommodates expanding operations

AUSTIN, Texas–(BUSINESS WIRE)–Infinitum Electric, creator of the breakthrough air-core motor, today announced the expansion of its leadership team with the recent appointments of Jack Powell as Director of Operations, Michele Feria as Director of Marketing, Ramon Guitart as Director of Engineering, Ed Carignan as Director of PCB Engineering and Stephen Mathew as Director of Product Management.

Infinitum Electric also announced it will move its headquarters to a new facility at the end of April to support the company’s rapid growth and expanding operations. The new facility will be triple the size of the company’s current offices and include a larger research lab and expanded production capabilities that will allow the company to address the growing electric vehicle and aerospace markets, which include electric vehicle takeoff and landing (eVTOL) applications.

Infinitum Electric is helping several industries transition to a more sustainable future with its smaller, lighter, quieter and more efficient motors. The company’s air-core motors are gaining traction in HVAC equipment to improve building health while using less energy, and in electric vehicles and electric aircraft where extending range and reducing noise are particularly valuable.

“We’re thrilled to attract such a talented group of experienced industry leaders to support our rapid growth trajectory and help more customers build a sustainable future,” said Ben Schuler, founder and CEO of Infinitum Electric. “We look forward to the impact these leaders will have in our next phase of growth as we scale production and meet demand for our high-efficiency motors across exciting new sectors and applications.”

Jack Powell, director of operations, brings more than 30 years of leadership experience to the organization, previously holding executive roles at clean energy companies that include Enphase Energy, SolarBridge Technologies, SunPower Corporation and SunEdison.

Michele Feria, director of marketing, brings more than two decades of technology marketing leadership experience to the company, previously serving in senior management roles at Silicon Labs and IBM.

Ramon Guitart, director of engineering, brings three decades of motor engineering leadership experience in the industrial, commercial, aerospace and automation industries, with prior executive roles held at TECO-Westinghouse, GE, Trane, Rockwell Automation, Curtiss Wright, MTS Systems Corporation and NovaTorque.

Ed Carignan, director of PCB engineering, brings 20 years of specialized experience in printed circuit board design and operations, previously serving as Founder and Group President of APSS Group, LLC and as SVP, Operations Asia PCB for Sanmina-SCI.

Stephen Mathew, director of product management, brings more than 20 years of experience in product management, engineering and sales, previously working as Sr. Director of Products for UST Inc. and for Siemens AG where he specialized in intelligent building and transportation.

Infinitum Electric added 30 new employees across its two offices in Spokane, Washington and Round Rock, Texas with headcount doubling in research and development, and tripling in operations in 2021. The company is currently hiring additional team members for positions across product, operations, R&D and sales.

To learn more about career opportunities at Infinitum Electric, visit: https://www.infinitumelectric.com/about/careers/.

About Infinitum Electric

Infinitum Electric has raised the bar for a new generation of motor that is better for the planet and people. The company’s patented air-core motors offer superior performance in half the weight and size, at a fraction of the carbon footprint of traditional motors, making them pound for pound the most efficient in the world. Infinitum Electric motors open up sustainable design possibilities for the machines we rely on to be smaller, lighter and quieter, improving our quality of life while also saving energy. Based in Austin, Texas, Infinitum Electric is led by a team of industry experts and pioneers. To learn more, visit www.infinitumelectric.com.

Written by Matt Rasmussen · Categorized: IE Coverage, Press Releases

Apr 04 2022

Infinitum Electric Execs Speak on EV Motor Manufacturing at Charged Virtual Conference


Infinitum Electric Execs Speak on EV Motor Manufacturing at Charged Virtual Conference

Electric vehicle industry leaders convene to discuss engineering innovations in motors, power electronics and battery systems

AUSTIN, Texas–April 4, 2022–Infinitum Electric, today announced its executives are speaking at the Charged virtual conference, an event focused on EV engineering, being held April 4-7, 2022. Infinitum Electric’s VP of Technology Paulo Guedes-Pinto and VP of Business Development Bhavnesh Patel will discuss how engineers can gain flexibility and speed in prototyping and manufacturing EV motors.

WHAT:

ChargedEV Speaking Session with Infinitum Electric Execs

How to Gain Flexibility and Speed in Prototyping and Manufacturing EV Motors

Automotive OEMs and suppliers are being driven to innovate faster by consumers demanding more in terms of range and overall experience. In this session, execs will discuss how Infinitum Electric’s approach to PCB motor technology provides advantages in areas such as oil cooling and in simplifying the manufacturing process so automotive companies can quickly iterate and reduce time to market.

WHO:

Bhavnesh Patel, vice president of business development, Infinitum Electric
Paulo Guedes-Pinto, vice president of technology, Infinitum Electric

WHEN:

Apr 4, 2022, 12:30 pm EDT

WHERE:

Visit the ChargedEV Virtual Conference website to attend free live sessions
or watch recordings.

About Infinitum Electric

Infinitum Electric has raised the bar for a new generation of motor that is better for the planet and people. The company’s patented air-core motors offer superior performance in half the weight and size, at a fraction of the carbon footprint of traditional motors, making them pound for pound the most efficient in the world. Infinitum Electric motors open up sustainable design possibilities for the machines we rely on to be smaller, lighter and quieter, improving our quality of life while also saving energy. Based in Austin, Texas, Infinitum Electric is led by a team of industry experts and pioneers. To learn more, visit www.infinitumelectric.com.

Written by Matt Rasmussen · Categorized: IEm Coverage, Press Releases

Jan 31 2022

Infinitum Electric Introduces Ultra High-Efficiency Motors for the Canadian Market

Infinitum Electric Introduces Ultra High-Efficiency Motors for the Canadian Market

Air-core motors purpose-built for Canada deliver breakthrough efficiencies and simplify design for HVAC, pump and general purpose applications

Las Vegas, Nevada – Jan. 31, 2022 – Infinitum Electric, creator of the breakthrough air-core motor, today announced at the 2022 AHR Expo a new product line specifically built to support Canadian HVAC fan, pump and general purpose applications.

The new product line is an extension of Infinitum Electric’s IEs Series motors and will be available in the 575V, 5-15 horsepower range in 2H 2022. With the addition of the Canadian products, Infinitum Electric is delivering the most comprehensive range of power and frame sizes for the North American HVAC market. The IEs Series offers 10 percent more efficiency and IoT capabilities in a package that is 50 percent lighter and smaller, and significantly quieter than traditional motors. 

To date, Canadian HVAC applications requiring 575V power have largely relied on suboptimal motor configurations due to a lack of focus on the specific needs of the Canadian market. HVAC applications have therefore used either an EC motor and a transformer to convert power, which adds costs and reduces overall efficiency, or a conventional, lower efficiency AC induction motor and VFD.

“Having a motor designed specifically for Canada greatly simplifies our engineering process and will ultimately help us deliver better products,” said Larry Hopkins, chief technology officer, XNRGY. “Infinitum Electric’s integrated motor and VFD gives us the breakthrough levels of efficiency our customers want, while its smaller size and light weight open new possibilities for our development team.”

“Infinitum Electric’s advancements in motor efficiency have the potential to spur innovation and reduce energy demand in Canadian HVAC and pump applications,” said Ivan Campos, research analyst, Omdia. “As supply chain issues continue, Infinitum Electric’s simple motor design, materials and PCB stator technology make it easier to source, produce and assemble motors close to their target market, reducing lead times.”

“We’re excited to expand our footprint and bring our proven IEs Series product line to Canada,” said Ben Schuler, founder and chief executive officer, Infinitum Electric. “We look forward to working with product manufacturers who are looking to achieve new levels of sustainability for fan, pump and general purpose applications.” 

Infinitum Electric is exhibiting its full range of motors for HVAC fan and pump applications during the AHR Expo in Las Vegas Jan. 31-Feb. 2, 2022 at booth C6103, where attendees will be able to speak with company experts on designing products for greater efficiency, reliability and productivity.

About Infinitum Electric
Infinitum Electric has raised the bar for a new generation of motor that is better for the planet and people. The company’s patented air-core motors offer superior performance in half the weight and size, at a fraction of the carbon footprint of traditional motors, making them pound for pound the most efficient in the world. Infinitum Electric motors open up sustainable design possibilities for the machines we rely on to be smaller, lighter and quieter, improving our quality of life while also saving energy. Based in Austin, Texas, Infinitum Electric is led by a team of industry experts and pioneers. To learn more, visit www.infinitumelectric.com.

Written by infinitum · Categorized: Press Releases

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