Motor and controller company Aeristech closes $7M private placement; SAIC participation
15 April 2021
UK-based Aeristech, a developer of high-speed electric motor and controller technology (earlier post), closed a £5.15-million (US$7-million) private funding round led by investors Sabien Technology, Vela Technologies and SAIC Venture Capital, the venture capital arm of China-based automaker SAIC Motor.
The funding round will supercharge the company’s investment in its development of e-boost technologies for hydrogen fuel-cell, hybrid-electric and internal combustion engine powertrains utilizing its patented technology. This includes expanding the company’s skilled engineering and design talent, adding new test cells and investing in the next generation of R&D.
Aeristech’s key invention so far is a new form of control architecture for permanent magnet variable-speed electric motors. The patented system allows motors to accelerate to 160,000 rpm in less than a second.
The technology also generates less heat than competitive products, allowing the delivery of products with higher efficiency, greater power density and continuous running at high power.
Aeristech can thus deliver electric motors that are smaller, lighter and faster accelerating than its competitors. The resulting high performance and efficiency means Aeristech’s technologies can play a significant role in powering innovative low-carbon transportation solutions.
The company has recently announced partnerships with leading aerospace innovators ZeroAvia and GKN Aerospace, with both companies working with Aeristech on the development of new low-carbon hydrogen-electric powertrains for aviation, a sector where power density is crucial. (Earlier post.)
For both ZeroAvia’s HyFlyer II and GKN’s H2GEAR projects, which aim to deliver some of the first commercially available hydrogen-electric propulsion systems for aviation, Aeristech is playing a key role by integrating its advanced hydrogen fuel cell compressors.
Alongside the close of the funding round, Aeristech has announced a series of strategic hires that will further expand its skilled engineering talent base. This includes hires in aerospace engineering, power electronics, and embedded software engineering.
Later in the Spring, Aeristech will also complete work on a series of new test cells at its site in the heart of a high performing engineering cluster in the UK’s West Midlands. The new test cells mean that Aeristech can rapidly progress and test new designs for new projects and partnerships.