Motor maker Infinitum Electric looks to expand into Spokane
Company raises $40M in funding to ramp up its technology development
Natasha NellisJune 3rd, 2021
A Texas-based developer of an air-core motor is planning to expand research and development operations to Spokane this year.
Infinitum Electric develops lightweight, high-performance electric motors for use in commercial and industrial products and plans to expand into the electric vehicle market.
An air-core is an electric motor with a permanent magnet rotor that doesn’t contain iron.
While a space hasn’t been secured, company CEO Ben Schuler says the company has narrowed down its options to about three locations in Spokane with between 8,000 and 10,000 square feet of floor space.
The company intends to use the space as a combination of office, warehouse, and laboratory space.
Once open, the company plans to hire five to 10 engineers in Spokane before the end of the year, he says.
“There are a lot of great tech companies (in Spokane), so it has a pretty rich talent pool up there for exactly what we need,” says Schuler on the decision to open a Spokane office. “Austin is also a pretty competitive market.”
Infinitum Electric currently has 30 employees and plans to double its workforce between its Austin and Spokane locations within the next year, says Schuler.
The company announced in late May that it had secured $40 million in Series C funding from a round led by Energy Innovation Capital. That brings the company’s total funding to date to $55 million, with investments from Cottonwood Technology Fund, Chevron Technology Ventures, Ajax Strategies, and Rockwell Automation.
“The $40 million will predominantly be used to ramp up production of commercial and industrial product line, to deliver more motors on a more consistent basis, and for research and development on the electric vehicle vertical,” he says.
“Electric motors consume over half of global electricity every year,” Schuler contends. “The industry is a major energy consumer, and it’s ripe for a new way to function.”
The company was founded in 2016 as to discover ways to reclaim wasted energy, Schuler says.
It now has about 20 approved patents, and another 30 are pending, he adds.