BMW i Ventures will invest in Software Motor Company (SMC), a Silicon Valley-based company with experience with HVAC retrofit motors. SMC will use the funding to expand its product line and bring to market its full-stack Building Operating System (BOS) platform, designed to optimize energy and maintenance through intelligent automation.
SMC says it has developed the world’s most efficient electric motor system, based on revolutionary switched reluctance technology, managed by advanced cloud software. The Smart Motor system partners a patented high rotor pole switched reluctance motor (HRSRM) with matching motor controller, optional IoT Supervisor, and user-friendly software.
Ryan Morris, Executive Chairman of SMC, said, “HVAC retrofit was the first step to drive adoption of our technology. Businesses and governments are seeking new energy efficiencies to address the urgency of the climate crisis and their own environmental goals, as well as just spend less on energy and improve the bottom line. But the applications for our software-defined motor systems are ubiquitous, and we foresee adoption into electric vehicles as clear future markets for SMC.”
“Electric motors are a massive, $100-billion market, and they move our modern world, while consuming over 45 percent of the world’s electricity,” said Greg Smithies of BMW i Ventures. “So investing in a company that can deliver huge electrical cost savings, while selling motor systems that are lower cost, more reliable, and made from more sustainable materials seems like a no-brainer.”