e-Power Technology

Siemens to Sell Innomotics Motor & Drive Biz for €3.5 Billion to KPS 

Siemens is planning to sell off its Innomotics motor and drive business unit for €3.5 billion to investment portfolio company KPS Capital Partners. The move follows creation of Innomotics, carved out as a discrete business unit in 2022, and preparations by Siemens in late 2023 to roll it out as a public company, but in a change of plans now has agreed to the sale to KPS. The transaction is expected to close in 2025. […]

e-Power Technology

Ingeteam Generators, Motors & Power Systems Enable Electrification Efforts on a Broad Scale 

Few companies in the industrial sector have embraced the concept of electrification on a worldwide scale as prodigiously as electrical equipment maker Ingeteam of northern Spain. Addressing multiple technologies to support propulsion, wind and solar energy, and hydrogen power, its products are increasingly spanning the globe. […]

Materials/Manufacturing

Solvay Partners with Carester for Magnet Recycling & Manufacturing in Europe 

Global chemicals giant Solvay and French rare earths consultancy Carester are planning to form a strategic partnership aimed at leveraging the expertise of both companies to pursue manufacturing opportunities within the rare earth industry for the permanent magnets value chain in Europe. The collaboration, announced in March as a signing of a memorandum of understanding, will enable both companies to enhance their respective strengths in the rare earths industry, with Solvay contributing its industrial assets and operational experience, and Carester bringing expertise in recycling end-of-life equipment, upstream market knowledge and related activities. […]

Materials/Manufacturing

Niron Magnetics Secures Funding from Samsung Ventures & Auto Heavyweights to Accelerate Production of Rare Earth-Free Magnets 

Niron Magnetics has been raking in new strategic investor funding with a $25 million round led by Samsung Ventures that included automotive top-tier suppliers Allison Transmission and Magna, and a further collaboration with General Motors. […]

Materials/Manufacturing

GKN Powder Metallurgy Gets New CEO & Builds Its Magnet Business Signing Schaeffler as Key Customer in Automotive Electrification 

Dowlais Group Plc, the recently established parent company of GKN Powder Metallurgy, has appointed Jean-Marc Durbuis as the new chief executive officer of GKN Powder Metallurgy.  He joined the company in March from Allnex, a supplier of resins and additives to the coating and inks industry where he was executive vice president of one of its global divisions with revenues of over €1 billion. Already a leading supplier of powder metal materials and sintered metal components, GKN PM lately has been expanding aggressively into magnet manufacturing to broaden its portfolio for the electric vehicle market. […]

e-Power Technology

Candela’s e-Power Hydrofoil Shuttle Takes to the Waterways of Sweden 

Powered by two specially designed permanent-magnet motors and drive that operate underwater, a new commercial e-hydrofoil will soon be taking to the waters offshore Stockholm to ferry 30 people at a time at record-breaking speed and tranquility. A recent maiden voyage, aptly called a flight, saw the craft hitting its airborne take-off speed of 16 knots and quickly reaching its designed top speed of 30 knots within 16 seconds. […]