AEM secures £16M to accelerate rare earth-free electric motor innovation

Advanced Electric Machines Group (AEM), a UK-based manufacturer of rare earth and magnet-free electric motors, has secured £16 million in funding to expand its product portfolio and accelerate development of new electric propulsion solutions. The technology, which eliminates the need for permanent magnets and rare earth materials, can be applied to a wide range of applications, including passenger cars, motorcycles, trucks, buses, construction machinery, and marine sector.

AEM's technology portfolio includes advanced control strategies, aluminium coils, and higher-speed, smaller, lighter designs, which are being productionised at its facility in Washington. The funding round was led by existing shareholders Barclays Climate Ventures, PXN Ventures, Northstar Ventures, and the Low Carbon Innovation Fund, with participation from new investors and loan support from Innovate UK.

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