Aeroperm® significantly increases the efficiency of electric motors, enabling electric vehicles to travel farther on a single charge. This breakthrough technology is set to substantially reduce production costs, translating into billions in savings for manufacturers and lowering operating costs in stationary applications such as mining.

This investment from SQMi is aligned with our goal to enable the global energy transition by providing the sustainable lithium products to power clean energy technologies. It will provide us access to breakthrough technologies that will keep us at the forefront of lithium innovation.

This funding will enable Kite Magnetics to scale globally, reduce environmental impact, and enhance consumer adoption of electric vehicles, a key driver of lithium demand.