Advanced Electric Machines (AEM), a UK startup pioneering eco-friendly electric vehicle (EV) motors, has successfully raised GBP 23 million in a Series A funding round. The investment, led by Legal & General Capital and Barclays Sustainable Impact Capital, positions AEM to scale up production of recyclable EV motors without rare earths or copper.
Current operations and funding boost
AEM, headquartered in Washington in England’s industrial northeast, has already deployed commercial rare earth-free motors in electric buses globally. The recent funding infusion, facilitated by leading financial institutions, will empower AEM to manufacture copper-free EV motors for both passenger cars and commercial vehicles.
Recyclable innovation
A key differentiator for AEM’s motors is their recyclability. Traditional EV motors with rare earth permanent magnets contain significant amounts of copper, posing recycling challenges. In contrast, AEM’s aluminium and steel motors facilitate easy recycling, aligning with sustainability goals.
Impact on EV range
The newly developed copper-free EV motors by AEM are anticipated to enhance the range of electric vehicles by a minimum of 10%. This technological advancement addresses the growing demand for more efficient and sustainable EV solutions in the automotive market.
Strategic partnership with Bentley
AEM has strategically partnered with Volkswagen’s luxury brand Bentley for the development of an EV motor. While details about other potential customers remain undisclosed, AEM’s CEO, James Widmer, confirms active discussions with automakers in Europe and beyond.
Global shift towards rare earth-free motors
European, U.S., and Japanese automakers are actively seeking alternatives to rare earth materials in EV motors, aiming to reduce dependency on China, a dominant force in rare earth mining and processing. AEM’s commitment to eliminating rare earth and copper aligns with the industry’s push for sustainable solutions.
Sustainability focus attracts Investors
James Widmer emphasizes AEM’s commitment to sustainability as a key factor in attracting notable investors. The company’s approach to producing environmentally friendly EV motors has resonated positively with investors seeking impactful contributions to green technologies.
With the fresh injection of funds, Advanced Electric Machines stands poised to lead the charge in the development and production of rare earth-free and copper-free EV motors. The automotive industry’s pursuit of sustainable and recyclable solutions gains momentum through AEM’s innovative approach, marking a significant step towards a greener and cleaner future for electric mobility.