North East based Advanced Electric Machines secures £23m in funding to build metal-free sustainable EV motors
Par Equity is delighted to have played a part in this incredible funding milestone alongside Legal & General Capital and Barclays Sustainable Impact Capital!
Advanced Electric Machines is a leader in sustainable motor manufacturing and we look forward to seeing the business scale up its operations from its headquarters in the North East, establish a global sales footprint and bolster its R&D capabilities as a result of its £23m Series A investment.
As Andrew Noble, Partner, summarises: “AEM has designed and built an electric powertrain motor which is greener, faster and more efficient than the incumbent solutions, resulting in significant market pull and potential for growth. It has all the ingredients of the type of business Par Equity likes to back, and we’re excited to partner with AEM at this critical stage as the company scales its team and capabilities to service a large and rapidly growing EV market.”
Read more here: https://techfundingnews.com/uk-based-advanced-electric-machines-ramps-2…