Infinitum Secures $35 Million Series E Extension Amid Rapid Growth
July 16 2024 - 10:00AM
Business Wire
Funding to accelerate company growth and drive
decarbonization with sustainable, high-efficiency motor systems
Infinitum, creator of the sustainable air-core motor, today
announced it has extended its Series E with $35 million in funding
from Marunouchi Innovation Partners and Rice Investment Group. The
additional funding brings the company’s total Series E funding to
$220 million, and will be used to scale the company to meet
customer demand and drive decarbonization.
Infinitum’s air-core motor systems can sustainably power
energy-intensive applications used in data centers, hospitals and
buildings, as well as logistics, manufacturing and industrial
facilities with less electricity, carbon emissions and waste.
“We believe Infinitum’s sustainable air-core motors are a proven
climate tech solution with significant customer traction that can
make an immediate impact in reducing electricity consumption across
a broad range of applications,” said Ichiro Miyoshi, CEO and Chief
Investment Officer, Marunouchi Innovation Partners. “We look
forward to bolstering the company’s rapid acceleration and
decarbonization efforts to support our goals of achieving a carbon
neutral society.”
When compared to traditional motors, the Infinitum motor system
consumes 10-65% less energy, is 50% smaller and lighter and uses
66% less copper. Infinitum’s motor systems have an integrated
variable frequency drive and can be customized to meet an
application’s specific power and torque requirements to reduce
strain on the electric grid by drawing less power. Infinitum motor
systems use fewer raw materials in manufacturing and modular design
allows for motors to be easily serviced, repaired, remanufactured
or recycled to keep motors in service and out of landfills.
The implementation of advanced motor technology in the US
industrial and commercial sectors has the potential to save 127
terawatt-hours per year (TWh/yr), translating into cost savings of
$14.7 billion and reductions of 90.2 MMT of CO2, according to the
U.S. Department of Energy.
“Millions of electric motors are needed each year to power AI,
cool our buildings and electrify industrial workloads, and it’s
critical for the planet that we choose to implement advanced,
high-efficiency motors rather than conventional motors,” said Ben
Schuler, founder and CEO, Infinitum. “We look forward to further
expanding our company to meet customer demand and accelerate
production of our sustainable motor systems.”
About Marunouchi Innovation Partners
Marunouchi Innovation Partners (MIP) is an investment company
dedicated to achieving a carbon-neutral society. As a joint venture
between Mitsubishi Corporation, MUFG Bank and Pavilion Private
Equity, it combines extensive industry experience and investment
capabilities, to support the commercialization and scaling of
growth stage companies that contribute to decarbonization. MIP
manages the Marunouchi Climate Tech Growth Fund L.P, which targets
a wide range of climate tech technologies, including next
generation energy, renewables, batteries/electrification, carbon
reduction and others. Together with our investors and partners, MIP
will support companies alongside their journey of global expansion
and contribute to the decarbonization of the world from Japan.
About Rice Investment Group
Rice Investment Group (Rice, RIG) is a multi-strategy investment
fund backed by the Rice family. The Rice family founded Rice
Energy, an Appalachian Basin focused natural gas operator that
later merged with EQT Corporation to form the largest natural gas
producer in North America. RIG invests in all verticals of the
energy sector and focuses on situations where its technical,
operational, and strategic expertise can add shareholder value.
Rice has also sponsored two SPACs, Rice Acquisition Corp I
(combined with Archaea Energy and Aria Energy, later sold to bp for
$4 billion) and Rice Acquisition Corp II (combined with NET Power
for $1.5 billion, NYSE: NPWR). For more information, visit
www.riceinvestmentgroup.com.
About Infinitum
Infinitum 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 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 and reducing waste.
Based in Austin, Texas, Infinitum is led by a team of industry
experts and pioneers. To learn more, visit goinfinitum.com.
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Media Contact Erin Gilmore Activate PR on behalf of
Infinitum egilmore@activateprmktg.com 512-466-4559