Next impact investment from Cottonwood Technology Fund: $110 MILLION D-ROUND FOR INFINITUM.
Funding to expand and deploy automation at 65,000 square foot facility to expedite production and meet a significant increase in demand for high-efficiency motors
November 8, 2022 – Austin, Texas – Infinitum, creator of the sustainable, breakthrough air core motor, today announced $30 million in additional growth capital from Riverstone Holdings Latin America, Alliance Resource Partners, Caterpillar Venture Capital and Cottonwood Technology Fund. The funds will be used to expedite commercial and industrial motor production by expanding and fully automating assembly at the company’s 65,000 square foot facility in Mexico to meet a significant increase in demand.
The company also announced it has rebranded as Infinitum to support its mission of going beyond the limits of conventional motors to serve future generations. While the lifetime of traditional motors is typically 10-20 years, Infinitum goes beyond, delivering motors with class-leading efficiency and life expectancy. Infinitum motors are modular by design, making them easier to service, and allowing the housing, rotors, and stators to be reused multiple times.
“The world is increasingly moving towards electrification, which feeds the demand for more efficient electric motors and helps reduce greenhouse gas emissions across heavy industry, manufacturing, and HVAC applications,” said Juan P. Visoso, managing director of Riverstone Holdings Latin American office. “We’re excited to expand our investment in Infinitum, as part of our decarbonization strategy, so they can speed assembly and production in Mexico for their motors that are better for the planet.”
Electric motors consume more than half of the world’s electricity, with the general industry segment consuming 38 percent. Infinitum’s motor is 50 percent smaller and lighter, uses 66 percent less copper and no iron, and consumes 10 percent less energy. Infinitum motor components can be reused, allowing them to stay in service for decades.
“Partnering with our network of existing investors allows us to automate assembly in our dedicated facility so that we can scale production this year and next, to meet escalating customer demand for our highly efficient motors,” said Ben Schuler, founder and CEO of Infinitum. “Rebranding the company as Infinitum underscores our commitment to future generations by going beyond to produce motors that can power the world with less energy and waste because they are designed with circularity in mind.”
As part of its rebranding, Infinitum’s IEs Series motor for general purpose, commercial and industrial applications will be renamed to the Aircore EC. The IEm Series motor for mobility applications will be renamed to Aircore Mobility and the IEalt product line of alternators in development will become Aircore Power Gen.
To learn more about Infinitum, visit www.goinfinitum.com.
Infinitum has raised the bar for a new generation of motor that is better for the planet and people. The company’s patented air core motors offer superior performance in half the weight and size, at a fraction of the carbon footprint of traditional motors, making them pound for pound the most efficient in the world. Infinitum motors open up sustainable design possibilities for the machines we rely on to be smaller, lighter and quieter, improving our quality of life while also saving energy and reducing waste. Based in Austin, Texas, Infinitum is led by a team of industry experts and pioneers. To learn more, visit goinfinitum.com.
About Cottonwood Technology Fund
Cottonwood Technology Fund is a top-decile performing early-stage venture capital fund. Its investment focus is on hard science and deep tech, providing (pre-)seed and early-stage funding to IP-driven companies. Cottonwood makes impact investments in Key Enabling Technologies such as Photonics, Micro- & Nanoelectronics, Advanced Materials, Nanotechnology, Medical Technology, Climate Tech, Advanced Manufacturing and Robotics. Cottonwood recently launched its third fund focused on startups from Northwest Europe and Southwest USA, regions with numerous national laboratories, major research universities and research centers.
Current and prior investments include Skorpios Technologies, Sarcos Robotics (NASDAQ: STRC), Exagen (NASDAQ: XGN), BayoTech, Sencure, Infinitum Electric, Flexiramics, FibeRio (acquired by Clarcor), xF Technologies, TriLumina (acquired by Lumentum), SoundEnergy, OPNT, BioFlyte, Circular Genomics and SmartNanotubes Technologies.
Visit https://www.cottonwood.vc for more information.
Press Release: https://goinfinitum.com/infinitum-electric-rebrands-as-infinitum-and-secures-30m-in-additional-growth-capital-to-expand-and-fully-automate-production-facility-in-mexico/