Belgium. January 02, 2018. Magnax announces that it has won European funding in the ultra-competitive Horizon 2020 SME instrument programme.
Magnax has been selected by the European Commission among 2596 applications submitted in November 2017: only 7% were selected by the European Commission for funding. The funding will be used for market research and strategic customer development for its patented axial flux machine technology.
Magnax focuses current product development on direct-drive wind turbine generators and electric motor technology for electric vehicles, two markets that significantly benefit from the high efficiency and power densities that Magnax axial flux technology can deliver. The technology has also applications in hydropower, ocean energy and electric aircraft propulsion.
Magnax is a Belgian SME combining unique practical engineering and commercial start-up experience with world-class electric machine research. Magnax works closely with Ghent University, who has been researching axial flux technology since 2008. Over the past 3 years, Magnax has successfully developed full-scale prototypes and prepared the design for large series production.
The winning proposal was developed by Zaz Ventures, a specialized consultancy firm focusing on Horizon 2020 grant proposal writing. Xavier Aubry, managing partner of Zaz Ventures, commented: “We are thrilled for Magnax as they join the Champion League of European SMEs. Their technology announces a new generation of electric motors and generators to build lighter and more energy-efficient products, which will drive down the cost of renewable energy even further“
Daan Moreels, Magnax cofounder adds: “Over the last months, the market response to our new technology has been massive. We feel that we can significantly contribute to a fully decarbonized world with the development of electric machines that provide a step change in efficiency, size, reliability, manufacturability, and cost-effectiveness. Zaz Ventures saw the potential immediately, offering a collaboration on a no win - no pay base. They took a deep dive in our technology and developed an outstanding application, which was reflected in the very high evaluation score“.
Up to this point, Magnax has developed a number of strategic partnerships with companies such as ThyssenKrupp. Magnax collaborates with strong industry partners to make sure that the promising technology reaches its full potential.
More information: www.magnax.com