Press Releases

Infinitum Electric Receives Investment from Caterpillar Venture Capital Inc.

Investment through Cottonwood Technology Fund supports development of expanded applications for the Infinitum Electric product line

AUSTIN, Texas— August 19, 2021— Infinitum Electric, creator of the breakthrough air-core motor, today announced it has received an equity investment from Caterpillar Venture Capital Inc., the venture capital arm of Caterpillar Inc. (CAT), the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives, through Cottonwood Technology Fund. The proceeds will be used to further expand production of Infinitum Electric’s IEs Series motor systems for industrial applications and for the development of a new line of smaller, lighter, quieter and more efficient alternators. Infinitum Electric alternators are expected to be one third the size and weight of traditional alternators: targeting the growing $17 Billion annual alternator market.

With most of today’s machines relying on rudimentary iron core motors that consume more than half the world’s electricity, Infinitum Electric is focused on powering a new generation of machines with unparalleled efficiency and durability. Infinitum Electric’s reinvented air-core motors use lightweight materials and modular design to generate the same power in half the size and weight, at a fraction of the carbon footprint and noise created by conventional motors.

Infinitum Electric’s motor design replaces the copper wire and laminated iron core found in conventional motors with a printed circuit board stator, making the motor smaller, lighter and more efficient. Their integrated motor and variable frequency drive (VFD) also maximizes usability and reduces energy consumption by addressing the entire lifecycle of the motor – from its materials, to how it’s produced, transported, assembled, used and maintained. Fewer raw materials reduce the amount of emissions required to build a motor, while off-the-shelf components allow the motor to be made anywhere in the world at any time reducing supply chain issues. Modular architecture enables simple assembly on-site, reducing shipping and logistics costs. This pioneering approach to motors provides increased energy savings, while also improving reliability, productivity and making electrical equipment smaller, lighter and quieter.

Infinitum Electric currently serves commercial HVAC, industrial, and automotive suppliers developing new products with environmental sustainability, efficiency and serviceability in mind.

“Caterpillar Venture Capital’s investment acknowledges the opportunity presented by ultra-high- efficiency motors in a reduced-carbon future. We’re excited about the opportunity Infinitum Electric’s technology offers and the potential positive impacts to lowering emissions, reducing waste and improving efficiency,” said Michael Young, Vice President of Caterpillar Venture Capital Inc.

“It’s extremely validating when one of the world’s leading manufacturers acknowledges the role that lighter, quieter, high-efficiency motors can play in the energy transition,” said Ben Schuler, founder and CEO of Infinitum Electric. “Cottonwood Technology Fund has been an excellent partner to Infinitum Electric in aligning us with investors that share our vision for a sustainable future while fueling our growth strategy.”

About Infinitum Electric

Infinitum Electric has raised the bar for a new generation of motors 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 Caterpillar Venture Capital Inc.

Caterpillar Venture Capital Inc. assists entrepreneurs around the world to grow and scale their businesses to build today for a better tomorrow by leveraging Caterpillar’s industry expertise, supply base and independent dealer network. Caterpillar Venture Capital’s focus areas of investment include robotics, energy, advanced materials, and digital solutions that help its customers be successful. Caterpillar Venture Capital is a wholly owned subsidiary of Caterpillar Inc., the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. For more information, visit Caterpillar Ventures.

About Cottonwood Technology Fund

CTF is a seed and early-stage technology commercialization fund with offices in Santa Fe, New Mexico; and Enschede, the Netherlands. It invests in founding stage technology-related (particularly telecom, chemistry/material sciences, photonics, biosciences, robotics and new energy) businesses originating throughout the Southwest region of the US and also in Northern Europe. Visit www.cottonwoodtechnologyfund.com for more information.

Infinitum Electric Raises $40 Million in Series C Funding Led by Energy Innovation Capital

Rockwell Automation buys equity stake in Infinitum Electric; Existing investors Cottonwood Technology Fund, Chevron Technology Ventures and Ajax Strategies participate in round

AUSTIN, Texas— May 25, 2021 —Infinitum Electric, creator of the breakthrough air-core motor, today announced $40 million in Series C funding to scale production of its ultra-high-efficiency, lightweight motors. The investment will be used to expand production of the company’s IEs Series motors for commercial and industrial applications and complete development of its IEm Series motors for the rapidly growing electric vehicle market.

Energy Innovation Capital led the round with Infinitum Electric’s existing investors Cottonwood Technology Fund, Chevron Technology Ventures and Ajax Strategies participating. Rockwell Automation also purchased an equity stake in Infinitum Electric, bringing the company’s total funding to date to $55 million.

Motors consume more than half the world’s electricity, but have largely remained unchanged over the last 100 years. Infinitum Electric’s reinvented motors use lightweight materials and modular design to generate the same power in half the size and weight, at a fraction of the carbon footprint of conventional motors. After being introduced in 2020, the company’s motors have quickly gained traction among leading commercial HVAC, industrial, and automotive suppliers developing new products with environmental sustainability, efficiency and serviceability in mind.

“Infinitum Electric’s innovative technology approach and pragmatic design has resulted in a motor made for the next 100 years,” said Kevin Skillern, managing partner of Energy Innovation Capital. “Environmental, Social and Governance (ESG) is an important business driver. As the world adds 800 million motors annually, Infinitum Electric is positioned to make machines we rely on more sustainable. We’re excited to welcome Infinitum Electric to our portfolio of companies addressing the world’s biggest energy challenges and look forward to working with the company’s incredibly talented team of industry experts.”

“Infinitum Electric addresses the entire lifecycle of the combined motor and variable frequency drive – from its materials, to how it’s tested, produced, transported, assembled, used, and maintained – and we see this work as a natural extension of our growing business helping our customers to be more productive and sustainable,” said Bob Buttermore, vice president and general manager of Rockwell Automation’s Power Control business. “Their motor and variable frequency drive packaged solution offers superior performance and efficiency, while emphasizing usability, which is a key differentiator.”

“We’re excited to ramp production of our motors after seeing significant demand in the commercial HVAC and industrial markets, as well as the growing interest from electric vehicle suppliers who see the potential a highly efficient, lightweight motor can deliver,” said Ben Schuler, founder and CEO of Infinitum Electric. “Partnering with Energy Innovation Capital, Rockwell Automation and our existing investors allows us to scale and power machines more efficiently and sustainably.”

As the energy use for heating and cooling buildings is likely to increase following CDC guidelines to increase outdoor air ventilation and run HVAC systems longer, more efficient motors are in demand. In response to a Request for Information seeking resource-efficient technologies that can improve building health and resilience, the U.S. General Services Administration’s (GSA) Green Proving Ground (GPG) program, in association with the Department of Energy (DOE), recently selected Infinitum Electric motors for evaluation in GSA facilities. GSA is testing the performance of Infinitum Electric motors for HVAC systems in both a federally-owned building and a private commercial building with the goal of reducing costs for heating and cooling.

Infinitum Electric’s motor design replaces the copper wire and laminated iron core found in conventional motors with a printed circuit board stator, making the motor smaller, lighter and more efficient. Infinitum Electric motors are 10 percent more efficient, 50 percent lighter and smaller, and significantly quieter than conventional motors. Infinitum Electric motors offer a fully integrated system: motor, variable frequency drive (VFD) and embedded IoT in a single compact package.

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

About Infinitum Electric

Infinitum Electric was established in 2016 by founders with decades of experience and a deep understanding of how electrification will impact the world. With just over half of the world’s electricity consumed by motors, Infinitum Electric’s mission is to Power The Electric Revolution. The company’s patented air-core stator technology forever changes the electrification landscape, allowing for smarter, lighter and quieter electric motors and generators with unparalleled efficiency and durability.

About EIC

Energy Innovation Capital is the premier capital provider for innovators serving the energy industry. EIC provides early and growth-stage funding for visionary entrepreneurs tackling global energy challenges with transformative, market-leading solutions. EIC’s team leverages our industry expertise, networks and collaborative approach to help talented entrepreneurs push the boundaries of what’s possible and build great companies. To learn more, visit www.energyinnovationcapital.com.

Infinitum Electric Highlights 2020 Milestones, Expands into 2021

Company to hire 30 new employees in 2021 to support demand of sustainable electric motors

AUSTIN, Texas – Jan. 28, 2021 – Infinitum Electric, creator of the breakthrough motor that uses a silicon stator, today announced company milestones achieved during 2020, along with plans to hire 30 employees in the areas of engineering, operations, sales and marketing across the next twelve months to meet demand for its ultra high-efficiency electric motors.

Twenty-five trillion kilowatt hours of electricity are consumed per year, of which 53 percent is consumed by electric motors. This leaves a significant opportunity for innovators in many industries – including commercial and industrial, mobility and consumer appliance markets  – to develop or replace machines using traditional electric motors with ultra, high-efficiency electric motors, which consume far less energy. Infinitum Electric is enabling this transition with its expanding line of ultra lightweight, connected motors.

“We’re excited to continue ramping up production of our breakthrough PCB motors,” said Ben Schuler, co-founder and CEO of Infinitum Electric. “Our team has worked tremendously hard over the last few years to deliver our disruptive motors to the HVAC industry. We look forward to attracting even more talent to support ongoing demand for our ultra-high efficiency electric motors in new markets and across new use cases, where they contribute to lower carbon footprints and improve sustainability.”

Company milestones, which were achieved during the year ending Dec. 31, 2020, include:

• Product: Launched its first product, the IEs Series motor in early 2020, and shipped its first unit in the fall. The IEs Series motor has also achieved certification from the global safety science leader, UL. Infinitum Electric also expanded motor R&D into mobility applications and household appliances.
• Customers: In addition to the company’s HVAC customers, Infinitum Electric signed an agreement with a leading US automotive supplier to support the development of a hybrid vehicle. Infinitum Electric will validate performance of its IEm Series motor using oil cooling techniques before building a purposefully designed motor for hybrid assist powertrains used for more efficient hybrid vehicles.
• Accolades: Won the 2021 AHR Product of the Year Award, as well as the 2021 Innovation Award in the category of Building Automation and Controls for its IEq, a smart motor offering comprising cutting-edge motor controllers, industry-leading communications options and user-centric cloud capabilities.
• Employees: Added two high-profile engineers to its team. Bahar Anvari, PhD joined the company as Senior Research and Development Engineer and Richard Lee joined as Principal Technical Architect.
• Marketing: Launched a new website to better reflect the company’s positioning to “Power the Electric Revolution” while it expands into new sectors.

“Since investing in Infinitum Electric in 2019, we’ve been encouraged by the growth of the startup’s commercial and industrial product line and the recent expansion into the mobility sector,” said Barbara Burger, Vice President, Innovation and President of Technology Ventures at Chevron.

About Infinitum Electric           

Infinitum Electric was born in 2016 by founders with decades of experience and a deep understanding of how electrification will impact the world. With 53 percent of the world’s energy consumed by traditional electric motors, Infinitum Electric’s mission is to Power The Electric Revolution. The company’s patented silicon stator technology forever changes the electrification landscape, allowing for smarter, lighter and quieter electric motors and generators with unparalleled efficiency and durability.