Infinitum Raises $185M Series E to Decarbonize the Industrial Sector
Infinitum, an Austin company that developed sustainable air-core motors, has secured $185 million in Series E funding led by Just Climate. The funding round brings the Infinitum’s total capital raised to $350 million and will go toward expanding the company and increasing production. The company works to drive decarbonization in the industrial sector, which is one of the largest emitters of greenhouse gases.
Motors consume 53 percent of electricity across the globe, according to the International Energy Agency. Furthermore, most motors today waste energy because they only operate at one speed. Infinitum’s air-core motors incorporate a variable frequency drive and are smaller, lighter and more energy-efficient than traditional motors. The implementation of advanced motor technology in the U.S. industrial and commercial sectors has the potential to save 127 terawatt-hours per year.
To accelerate the adoption of its advanced motors, Infinitum is partnering with Rockwell Automation to develop a motor system that is compatible with Rockwell’s industrial automation solutions. The resulting motor and low-voltage drive solution will be distributed through Rockwell, expanding the product’s reach to global industrial sector clients.