Electric motor company Infinitum announced it raised a further $35 million in its Series E funding, bringing the funding round’s total to $220 million, with proceeds aimed at accelerating the company’s growth and driving decarbonization with sustainable, high-efficiency motor systems.
Motors are the largest single end-user of energy, according to the IEA, consuming 53% of electricity globally, with significant increases in electricity demand expected over the next several years, as the industrial sector shifts to electrification.
Content retrieved from: https://www.esgtoday.com/electric-motor-provider-infinitum-raises-35-million-to-drive-industrial-decarbonization/.
