Magnomatics, the creators of a range of innovative high efficiency and high torque magnetic gears and motors, has secured half a million in funding. £350,000 is being injected from the White Rose Technology Seedcorn Fund. The remainder is coming from Fusion IP plc, already Magnomatics major shareholder.

The company is a spin out from The University of Sheffield, evolving in 2006 from the internationally leading research group in Electrical Machines and Drives. The technology being developed has a wide range of applications including energy generation, shipping, hybrid cars, aeronautics and machines in many industries.

Magnomatics’ innovative magnetic gears do not physically mesh; they are therefore quieter and more efficient with lower maintenance and much higher reliability than conventional mechanical alternatives. Magnomatics’ PDD® motors, which incorporate magnetic gearing, are also significantly smaller and lighter than other types of electrical motors and can remove the need for a mechanical gearbox to be used in conjunction with a high speed motor for many applications.

In only a short period of time Magnomatics has evolved its technology to a stage where it is commanding significant attention across several markets, with a number of companies interested in partnering with the company. Dr David Milroy of Aberdeen Asset Managers, which manages the White Rose Technology Seedcorn Fund said: "We are delighted to be backing a management team who are experts in their field and are passionate about commercialising their technology”.

Commenting on this announcement, David Baynes, CEO of Fusion IP, said: "We believe Magnomatics’ technology for using magnetic attraction in gears and motors could have a revolutionary impact on the wind turbine and hybrid car industries, among many others. This investment, in partnership with the White Rose Technology Seedcorn Fund will enable Magnomatics to bring its innovative technology closer to market."

Chris Kirby, Managing Director of Magnomatics Ltd added: "This investment will not only allow us to grow our team of experts, but will allow us to increase the pace of our development. We will also be able to vigorously pursue and progress international opportunities, ensuring that our ground-breaking technology has real impact in a number of rapidly expanding and diverse industries".

About Magnomatics

Magnomatics Limited is a high-technology spin-out company formed in 2006 from the internationally leading research group in Electrical Machines and Drives at the University of Sheffield. Dr Kais Atallah, the inventor of the high torque density magnetic gear and high torque electrical machine, now spends a proportion of his time advising the Company.

Magnomatics has extensive design capabilities for realising industrial solutions based on its magnetic gear and high torque machine intellectual property and it also provides design services for challenging applications of standard electromagnetic topologies such as motors, generators, actuators and eddy current couplings and dampers. It has particular skills in designing machines for high torque, high speed, high temperatures and fault tolerant applications.

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