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Enedym Inc., a technology company developing next-generation switched reluctance motors (SRMs) and electric powertrains, announced an investment from Honda Motor Co., Ltd. Honda invests in innovative startups through its Honda Xcelerator Ventures global open innovation program. This new investment is intended to accelerate Enedym’s patented motor technology development and expand its operations.
Key Highlights
- Honda Motor Co., Ltd. has invested in Enedym Inc. via its Honda Xcelerator Ventures program.
- Enedym develops switched reluctance motors (SRMs) that require no permanent magnets or rare earth metals.
- The funding will be used to accelerate Enedym’s technology development and scale operations.
- Enedym’s technology is based on over 70 patents developed at McMaster University.
Enedym’s Patented Motor Technology
Enedym, headquartered at the McMaster Innovation Park in Hamilton, Ontario, Canada, focuses on developing electric motors completely free from rare earth metals. The company’s technology is built on a portfolio of over 70 patents and pending applications developed by Dr. Ali Emadi and his research group at the McMaster Automotive Resource Centre (MARC), McMaster University.
Dr. Ali Emadi, Founder, President, and CEO of Enedym, stated that the company has redefined what switched reluctance motors can do. Through proprietary motor configurations, advanced control strategies, and design optimization, Enedym reports it has overcome the traditional limitations of SRMs. The resulting high-performance motors are described as quiet, efficient, powerful, and scalable.
The Enedym team has also developed a disruptive digitization platform designed to create electric motors at a fraction of the time and cost associated with existing methods.
Strategic Investment Rationale
Dr. Emadi expressed that Enedym is pleased Honda recognizes the potential of its motor technology and welcomes them as a strategic investor.
Manabu Ozawa, Managing Executive Officer of Honda Motor Co., Ltd., highlighted Enedym’s innovative SRM technology. Ozawa noted that most electric propulsion motors today use permanent magnets made from rare earth metals, which are expensive and environmentally challenging. “Enedym motors do not use any permanent magnets, and Honda has high hopes for its potential,” Ozawa stated.
About Enedym Inc.
Enedym is a technology start-up originating from McMaster University. The company’s vision is to significantly reduce the cost of electric motors and electrified powertrains, aiming to power a new paradigm in electrification. Enedym utilizes novel electric motor drive technologies, controls, and digitization techniques.
To learn more about Enedym, please visit https://www.enedym.com.
About Honda Motor Co., Ltd.
Honda, established in 1948, is a global mobility company headquartered in Tokyo. The company is pursuing goals of zero environmental impact and zero traffic collision fatalities involving its products by 2050. Honda Xcelerator Ventures, its global open innovation program led by Honda Innovations Co., Ltd., facilitates collaboration with and investment in innovative startups.
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