Magnax has closed a €20-million ($19.97 million) funding round. The company says it plans to use the funds “to accelerate product development, grow the engineering team and expand support for customers and partners.”
Magnax has patented a single-stator, dual-rotor axial-flux motor that directly cools the windings. According to the company, the motor “delivers the most effective and efficient motor topology known today.”
“With up to a 4x increase in volumetric torque density versus traditional radial flux electric motors, automotive and airframe developers can use the compact and thin ‘pancake’ shape of Magnax’s axial flux motors to their competitive advantage,” says the company.
Magnax has spun off the company Traxial to commercialize its axial flux motor for the ground EV market and the company Axyal for the electric aerospace market.