UK startup Advanced Electric Machines (AEM) recently announced it had received a $29 million investment to scale up its operation.
The fledgling firm specialises in manufacturing motor for electric vehicles (EVs) that contain no copper or rare earths, making them 100 per cent recyclable. The backing was obtained with the aim of expanding its current manufacturing output to meet anticipated demand.
British consumers keen to fund UK startups get off the ground often consult financial advisors for investment advice in Shropshire, Greater Manchester, and other regions. Wealth managers are often counted on for an impartial view of assets and to explain the returns and risks involved in clear and easy-to-understand language.
James Widmer, chief executive at AEM, said that the new funding will enable the enterprise to begin production of its copper-free EV motor range, which includes products designed for both commercial vehicles and passenger cars. He added that AEM’s motors offer an added benefit, the capacity to boost an EV’s range by a minimum of 10 per cent.
According to Widner, the lack of copper in AEM motors make recycling easier. He underlined that most EV motors use permanent magnets that contain approximately 10 kilograms of copper, while other alternatives sometimes contain twice this amount. Recycling motors that contain copper is difficult, but AEM’s aluminium and steel solutions are easier to melt at high temperatures in a furnace.
AEM’s motors are already in use on electric buses, among other vehicles, in multiple continents including Europe, Asia and North America and Asia.
