March 3, 2021:
Turntide Technologies, and their revolutionary Smart Motor System™ and the Optimal Efficiency Motor™ with digital DNA, announced the completion of an $80 million funding round as their funding total increases to $180 million. The latest funding included Robert Downey Jr.’s FootPrint Coalition Ventures. The buzz is around their switched reluctance motor(SRM) technology which is less expensive to own and operate than conventional electric motors. Other investors include the Amazon Climate Pledge Fund, Keyframe Capital, Fifth Wall, Breakthrough Energy Ventures and Capital Planet LP.
Turntide will expand R&D and production of their Smart Motor System with the funds. CEO and Chairman, Ryan Morris stated, “Our investors recognize the critical role that technology will play in our fight against climate change. To curb the carbon emissions driving this crisis, we all need to change the way that we use energy. That starts with modernizing the technology that is currently powering our world,” said Turntide’s. “With the support from our investors, Turntide will increase production of our Smart Motor System and ramp up motor retrofitting to provide cost-effective and energy-efficient motors to businesses around the world.”
Turntide’s Smart Motor System is a game changer in improving the efficiency of the electric motor. It is extremely reliable, lowers costs and energy efficient. Carmichael Roberts of Breakthrough Energy Ventures said, “Turntide’s Smart Motor System addresses a huge market with innovation that not only is higher efficiency but also lower cost. The applications for this type of solution are incredibly broad and impactful, and we’re proud to be working with the team at Turntide as they revolutionize the motor industry.”
Amazon is also a big investor in Turntide. Their Climate Pledge Fund supports the development of technology that will try to achieve net-zero carbon by 2040. Amazon, BMW, Five Guys, Sprouts, and JLL have all retrofitted old electric motors with the Smart Motor System. This has reduced their HVAC motor energy consumption by an average of 64%.
To learn more about Turntide Technologies and the Smart Motor System please go to turntide.com.
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