AEM secures £23M in funding for sustainable motor manufacturing
Advanced Electric Machines (AEM) is a sustainable motor manufacturing company based in Washington, England, UK. They primarily focus on producing motors for the automotive industry, with a key emphasis on sustainability. Recently, AEM announced that they have secured £23M in Series A funding. This funding round was led by Legal & General Capital and Barclays SustainableImpact Capital, with a significant additional investment from Par Equity. Other notable investors include Northstar Ventures, the Low Carbon Innovation Fund 2, and Turquoise Capital LLP.
The main aim of this funding is to enable AEM to scale up their production capacity at their North East facility.
By doing so, they can meet the growing demand for their sustainable motor technologies. Additionally, AEM plans to establish a global sales footprint, allowing them to reach a wider market and increase their brand presence on an international level. Furthermore, the funding will be used to bolster their research and development capabilities, enabling AEM to continue innovating and staying at the forefront of their industry.
At the helm of AEM is CEO Dr James Widmer and CTO Dr Andy Steven. Together, they have led the company in developing motor technologies that eliminate the need for polluting rare earth metals in electric vehicle (EV) motors. This is significant as the production and processing of these metals is heavily concentrated in China. AEM's groundbreaking technology allows passenger and commercial electric vehicle manufacturers to reduce their environmental impact and lessen their dependence on critical supply chains, all without compromising on quality and performance. It is worth noting that AEM's motor designs and manufacturing processes are protected by 46 international patents, solidifying their position as industry leaders in sustainable motor manufacturing.
They've invested in Advanced Electric Machines
Get to know these Mobility investors
| # | Investor | Sector | Stage | Activity | Team | Connect |
|---|---|---|---|---|---|---|
1 |  Legal & General Capital London  | 1 investment(s) investment(s) | more info | |||
2 |  Barclays SustainableImpact Capital | 1 investment(s) investment(s) | more info | |||
3 |  Par Equity Edinburgh | 3 investment(s) investment(s) | 10 contacts contacts | |||
4 |  Northstar Ventures Newcastle | 2 investment(s) investment(s) | more info | |||
5 |  the Low Carbon Innovation Fund 2 | 1 investment(s) investment(s) | more info |
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