Melbourne-based advanced materials company Kite Magnetics has secured a $2 million grant through the Australian Government’s Industry Growth Program to support the commercialisation and manufacturing scale-up of its electric motor materials technology.
In a media release, Kite Magnetics stated the funding will contribute to a $4.1 million commercialisation project aimed at expanding the company’s pilot manufacturing line, producing automotive-grade validation data and delivering customer-ready prototypes of its patented Aeroperm™ motor core technology.
Kite Magnetics said Aeroperm is a nanocrystalline soft magnetic material designed to replace conventional electrical steel in electric motor stator cores.
The company says the material is intended to reduce energy losses and heat generation within electric motors, allowing manufacturers to improve efficiency without requiring a complete redesign of existing motor platforms.
Founder and chief executive officer Dr Richard Parsons said the grant marked an important milestone in the company’s transition from research to commercial manufacturing.
“Most EV range increases are fought for at the battery pack, software or power electronics level. We are attacking a more fundamental source of loss: the magnetic material inside the motor,” Dr Parsons said.
“Electric motors are one of the most important technologies in the electrification economy, with electric motor-driven systems accounting for around half of global electricity consumption, but the materials inside our motors have not fundamentally improved in decades. Aeroperm gives motor manufacturers a practical way to reduce losses and improve efficiency without having to completely redesign existing motor platforms.”
Kite Magnetics said the project will help advance Aeroperm from Technology Readiness Level 4 to Technology Readiness Level 6, while strengthening its pilot manufacturing capability in Victoria. The company said the funding will also support customer qualification programs and the development of quality, cybersecurity and intellectual property systems required by global automotive and industrial customers.
“This support from the Australian Government helps us bridge a critical commercialisation gap,” Dr Parsons said. “It allows us to turn breakthrough material performance into a scalable and repeatable manufacturing process.”
The company says Aeroperm can reduce stator core losses by up to 97 per cent compared with conventional electrical steel under specified operating conditions. Kite Magnetics estimates the technology could help electric vehicle manufacturers lower battery and system costs by up to approximately A$1,140 per vehicle, depending on vehicle platform and motor design.
The funding announcement comes as Kite Magnetics prepares for a planned $22 million Series A capital raise to expand manufacturing, complete customer qualification activities and progress towards volume production.
“We have a novel patented materials platform, active engagement with dozens of global OEMs and Tier 1 and 2 suppliers, government-backed commercialisation support, and a clear pathway to scale the world’s only nanocrystalline stator core production process,” Dr Parsons said.
“We are now working to scale the business so that we can deploy as many Aeroperm stator cores into motors as possible.”
Kite Magnetics was spun out of Monash University in 2021 and says it has progressed from laboratory research to pilot production.
According to the company, it is supplying samples and paid prototypes to more than 20 global organisations, including original equipment manufacturers, Tier 1 and Tier 2 suppliers, and electric mobility partners. The company is backed by investors including SQM Lithium Ventures, Investible and Innovation Victoria.
