SummaryCompanies Funding round led by Just ClimateMetal-light motor 10% to 65% more efficientAims to produce 150,000 motors by end of 2024SAN FRANCISCO, Nov 1 (Reuters) - Climate technology firm Infinitum, which develops high efficiency industrial motors, said on Wednesday it had raised $185 million in a funding round led by venture capital investor Just Climate.
The Infinitum motors can also work at variable speeds, helping account for a drop in energy consumption of about 10% to 65%, and the motors are relatively easy to fix and recycle, Schuler said.
Just Climate Investment Partner Benoit Grobon said about half of the power from electric generation in the world goes into electric motors, and increasing their efficiency would save a lot of energy.
Moreover, electric motors used as generators could make windmills more efficient and improve the range of electric cars, he added.
Reporting by Simon Jessop and Peter Henderson; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.
Persons:
Ben Schuler, Schuler, Benoit Grobon, PwC, Simon Jessop, Peter Henderson, Jamie Freed
Organizations:
FRANCISCO, Reuters, Climate, Thomson
Locations:
Dubai, Monterrey, Mexico, Texas