UK-based YASA Motors has secured an additional £5 million in funding. The new equity finance has been raised from a combination of existing and new investors, and will be used to increase production capacity and to expand the company’s commercial activities.
YASA manufactures a highly differentiated axial flux electric motor and generator based on its proprietary Yokeless And Segmented Armature technology. Compared to the motor used in the 2010 Toyota Prius, YASA’s motor is up to 60% smaller, four times lighter (about 10 kg), and has a 30% greater power output, according to the company.
In 2012, YASA was named the UK’s Best Enterprise in the Lloyds TSB/Telegraph Enterprise Awards. “We’re looking at installing these high-performance electric motors in the new generation of electric and hybrid vehicles that will come on to the market in 2016/2017,” said Tim Woolmer, YASA’s founder and chief technology officer, who invented the motor for his DPhil project at Oxford University.
YASA’s motors have been used in several prominent electric race cars, including Drayson Racing’s B12/69EV, which features four YASA-750H motors, each delivering up to 160 kW, as well as a racer built by the Latvian company Drive eO, which made a respectable showing at the Pikes Peak Hill Climb.
“Our highly differentiated electric motors…are now being integrated into products by an ever increasing number of customers across a wide range of markets including marine, agriculture, industrial and construction equipment along with automotive and aerospace,” said YASA CEO Chris Harris. “The additional financing will allow us to increase our production capacity to meet the anticipated demand, and to expand our commercial organisation to better support our customers.”
Source: YASA Motors