Infinitum Electric, creator of the breakthrough air-core motor, today announced it has received an equity investment from Caterpillar Venture Capital Inc., the venture capital arm of Caterpillar Inc. (CAT), the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives, through Cottonwood Technology Fund. The proceeds will be used to further expand production of Infinitum Electric's IEs Series motor systems for industrial applications and for the development of a new line of smaller, lighter, quieter and more efficient alternators. Infinitum Electric alternators are expected to be one third the size and weight of traditional alternators: targeting the growing $17 Billion annual alternator market.
With most of today's machines relying on rudimentary iron core motors that consume more than half the world's electricity, Infinitum Electric is focused on powering a new generation of machines with unparalleled efficiency and durability. Infinitum Electric's reinvented air-core motors use lightweight materials and modular design to generate the same power in half the size and weight, at a fraction of the carbon footprint and noise created by conventional motors.
Infinitum Electric's motor design replaces the copper wire and laminated iron core found in conventional motors with a printed circuit board stator, making the motor smaller, lighter and more efficient. Their integrated motor and variable frequency drive (VFD) also maximizes usability and reduces energy consumption by addressing the entire lifecycle of the motor ? from its materials, to how it's produced, transported, assembled, used and maintained. Fewer raw materials reduce the amount of emissions required to build a motor, while off-the-shelf components allow the motor to be made anywhere in the world at any time reducing supply chain issues. Modular architecture enables simple assembly on-site, reducing shipping and logistics costs. This pioneering approach to motors provides increased energy savings, while also improving reliability, productivity and making electrical equipment smaller, lighter and quieter.
Infinitum Electric currently serves commercial HVAC, industrial, and automotive suppliers developing new products with environmental sustainability, efficiency and serviceability in mind.
"Caterpillar Venture Capital's investment acknowledges the opportunity presented by ultra-high- efficiency motors in a reduced-carbon future. We're excited about the opportunity Infinitum Electric's technology offers and the potential positive impacts to lowering emissions, reducing waste and improving efficiency," said Michael Young, Vice President of Caterpillar Venture Capital Inc.
"It's extremely validating when one of the world's leading manufacturers acknowledges the role that lighter, quieter, high-efficiency motors can play in the energy transition," said Ben Schuler, founder and CEO of Infinitum Electric. "Cottonwood Technology Fund has been an excellent partner to Infinitum Electric in aligning us with investors that share our vision for a sustainable future while fueling our growth strategy."
About Infinitum Electric
Infinitum Electric has raised the bar for a new generation of motors 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 Electric 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. Based in Austin, Texas, Infinitum Electric is led by a team of industry experts and pioneers. To learn more, visit www.infinitumelectric.com.
About Caterpillar Venture Capital Inc.
Caterpillar Venture Capital Inc. assists entrepreneurs around the world to grow and scale their businesses to build today for a better tomorrow by leveraging Caterpillar's industry expertise, supply base and independent dealer network. Caterpillar Venture Capital's focus areas of investment include robotics, energy, advanced materials, and digital solutions that help its customers be successful. Caterpillar Venture Capital is a wholly owned subsidiary of Caterpillar Inc., the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. For more information, visit Caterpillar Ventures.
About Cottonwood Technology Fund
CTF is a seed and early-stage technology commercialization fund with offices in Santa Fe, New Mexico; and Enschede, the Netherlands. It invests in founding stage technology-related (particularly telecom, chemistry/material sciences, photonics, biosciences, robotics and new energy) businesses originating throughout the Southwest region of the US and also in Northern Europe. Visit www.cottonwoodtechnologyfund.com for more information.
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