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Monash University spin-out Kite Magnetics is set to take its efficiency enhancing technology for electric motors to new heights, establishing a state-of-the-art advanced manufacturing facility in Melbourne’s southeast with investment support from the Victorian state government.
Kite Magnetics' unique Aeroperm technology involves nanocrystalline stator cores that can reduce losses by up to 97 per cent, allowing for smaller, lighter and more efficient electric generators and engines.
Aeroperm applications in motors have the potential to help electric vehicles to travel further on a single charge, cutting down vehicle mass and overall cost. By generating less heat, Aeroperm also minimises cooling requirements, improving reliability and extending motor lifespan.
Victorian Minister for Economic Growth and Jobs, Danny Pearson, says the new facility will create more than 140 highly skilled jobs and up to 550 indirect jobs.
The new facility will generate jobs in material science and automation engineering, increasing production of Aeroperm to 50,000 tonnes per year by 2029 - boosting local and global export markets and benefiting industries like automotive, transport and mining.
"Kite Magnetics is innovation at its best – they are producing a brand new technology that will shape the automotive, transport and mining industries into the future, while backing quality jobs right here in Victoria," says Pearson.
"This new advanced manufacturing facility will create hundreds of highly skill jobs and is yet another innovative powerhouse powering Melbourne’s southeast," adds inister for Advanced Manufacturing and Innovation, Colin Brooks.
The investment will also mean the company can speed up its development of highly efficient electric aircraft engines to help grow the zero-emissions aviation sector.
"Aeroperm is accelerating electrification with smaller, lighter, and more efficient motors - driving down EV costs and extending the range of electric aircraft. Developed in Victoria, this breakthrough is set to transform industries worldwide," says Kite Magnetics founder and CEO Richard Parsons.
Parsons co-developed the core technology of Aeroperm at Monash University in 2016, with a breakthrough leading to a provisional patent in 2019.
Backed by leading venture capital firms, including the Victorian State Government 2B sovereign wealth fund, Kite Magnetics was officially founded in 2021.
Investors in the company include Breakthrough Victoria, Galileo Ventures, Possible Ventures, Investible, Boson Ventures and NOAB Ventures.
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