Infinitum Electric Secures $30M in Additional Growth Capital to Expand and Fully Automate Production Facility in Mexico and Rebrands as 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.
About Infinitum
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 Riverstone Holdings LLC
Riverstone is a global energy and power-focused private investment firm founded in 2000 by David M. Leuschen and Pierre F. Lapeyre, Jr. with over $43 billion of equity and debt capital raised to date. Riverstone conducts buyout and growth capital investments in the energy industry, with a leading franchise in low-carbon investing. The firm’s pioneering investment vehicles in low-carbon platforms – which include mobility, battery materials, solar, wind and renewable fuels – span over 15 years, with over $6 billion committed to the category since 2009 and over $1.6 billion raised across its low-carbon strategies in 2020 alone. With offices in New York, Menlo Park, London, Houston and Mexico City, the firm has executed over 200 transactions across North America, South America, Europe, Africa, Asia, and Australia.
About Alliance Resource Partners, L.P. (NASDAQ: ARLP)
ARLP is a diversified energy company that is currently the largest coal producer in the eastern United States. ARLP also generates operating and royalty income from mineral interests it owns in strategic coal and oil & gas producing regions in the United States. In addition, ARLP is positioning itself as an energy provider for the future by leveraging its core technology and operating competencies to make strategic investments in the fast-growing energy and infrastructure transition.
About Caterpillar Venture Capital Inc.
Caterpillar Venture Capital Inc. assists entrepreneurs around the world to grow and scale their businesses to build today for a better tomorrow by leveraging Caterpillar’s industry expertise, supply base and independent dealer network. Caterpillar Venture Capital’s focus areas of investment include robotics, energy, advanced materials, and digital solutions that help its customers be successful. Caterpillar Venture Capital is a wholly owned subsidiary of Caterpillar Inc., the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. For more information, visit Caterpillar Ventures.
About Cottonwood Technology Fund
CTF is a seed and early-stage technology commercialization fund with offices in Santa Fe, New Mexico; and Enschede, the Netherlands. It invests in founding stage technology-related (particularly telecom, chemistry/material sciences, photonics, biosciences, robotics and new energy) businesses originating throughout the Southwest region of the US and also in Northern Europe. Visit www.cottonwoodtechnologyfund.com for more information.
