- Investments from Sabien Technology, Vela Technologies and SAIC Venture Capital
- Funding will supercharge Aeristech’s development of its market-leading e-boost technologies for hydrogen fuel-cell, hybrid-electric and internal combustion engine powertrains
- Aeristech announces a series of strategic hires to further expand its skilled engineering talent base, including in power electronics and aerospace engineering
Leamington Spa, UK– Aeristech, a UK-based leader in high-speed electric motor and controller technology, has announced the close of a £5.15m private funding round led by investors Sabien Technology, Vela Technologies and SAIC Venture Capital.
The funding round will supercharge the company’s investment in its development of market-leading e-boost technologies for hydrogen fuel-cell, hybrid-electric and internal combustion engine powertrains utilising its unique 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 to build on its market leading advantages.
Aeristech’s unique and patented technologies mean it can 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.
Richard Wall, Executive Chairman of Aeristech, said:
“As the world takes action to reduce emissions from transport and deliver new forms of mobility, such as hydrogen powered vehicles, it will need new and better electric motor technologies. This is where Aeristech is focused on making a difference through our innovative solutions. We are pleased to welcome Sabien Technology, Vela Technologies and SAIC Venture Capital as partners as we invest to make it possible.”
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. 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.
Richard Parris, Chairman and CEO of Sabien Technology, said:
“Sabien believes that environmental and shareholder benefits are not mutually exclusive. We are focused on building a portfolio of solutions which reduce carbon dioxide production at the point of consumption. Aeristech fits this template completely – its work within hydrogen fuel cell optimisation is class-leading and the resulting technology will be, I am sure, capable of significant growth.”
John Shi, Director of SAIC Venture Capital, said:
“SAIC Venture Capital is a champion of forward-thinking technology companies. We actively seek to invest in companies with the potential to deliver growth and change the world around us for the better. We look forward to joining Aeristech as it delivers innovation with the potential to help transform the transportation sector.”
James Normand, Executive Director of Vela Technologies, said:
“Vela is pleased to be investing in Aeristech whose leading technology is increasing the viability of hydrogen fuel cell power, particularly in the automotive and aviation sectors. Together with the government grant funding, this funding round will enable Aeristech to develop its products for application to hydrogen fuel cell solutions for commercial jets, light aircraft and heavy goods vehicles and to broaden its customer base.”