Kite Magnetics develops ground-breaking electric motor technology

Breakthrough Victoria is investing in new light-weight motor technology that could transform the transport and consumer sectors and support the global shift towards decarbonisation and electrification.

Developed at Monash University and spun out into Victorian company Kite Magnetics, it is developing the next generation of electric aircraft motors that have the potential to lead the charge in the electrification of the transportation sector with motors that will be the smallest and lightest on the market.

Ground-breaking materials science was used to develop the prototype for low weight, high efficiency electric motors composed of nanocrystalline magnetic material, potentially paving the way for a new generation of more powerful and efficient electric motors that could accelerate the adoption of electric aircraft.

Kite Magnetics will use Breakthrough Victoria’s investment to develop their electric motors for aircraft in the near term, with plans to become a global leader in aviation electrification.

Lead investor Investible is the first VC to co-invest in a tech startup with Breakthrough Victoria, contributing to the $1.85 million Kite raised in its seed funding round.

Breakthrough Victoria CEO Grant Dooley said the electric motor technology was an example of Victoria’s world class capabilities and contribution to carbon emission reduction.

“Kite Magnetics is a shining example of how Victoria’s world class research can be spun out into an exciting early stage startup, with the potential to grow Victoria’s advanced manufacturing sector and create jobs within the state.”

He said the investment in Kite reinforced Breakthrough Victoria’s strategy of investing for impact given the technology’s potential to reduce emissions and capture the opportunities from decarbonisation and electrification.

“Victoria’s track record for innovation positions the state to become a major contributor to the world’s move towards a low carbon future and secure the state’s future competitiveness and prosperity in the near and the long term.”

Dr Richard Parsons said: “Our electric motors will enable electric aircraft of all sizes to fly further and carry more, reducing the costs to operate them and enabling sustainably powered aircraft to fly more routes sooner.

“Today the global aviation industry contributes about 3 times more to climate change than all of Australia’s emissions combined and so helping to accelerate the adoption of electric aircraft is our top priority. Outside of aviation, we also see our electric motor and generator technology supporting a wide range of other industries as it matures, such as cars, busses, boats and trains.”

Watch an interview with Dr Parsons about how Breakthrough Victoria’s investment will help Kite Magnetic’s expansion and the journey from researcher to company founder.

Read the press release here.