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£6m investment will create 41 jobs at magnetic gears firm

07 August, 2013

Magnomatics, the Sheffield-based developer of magnetic transmissions and ultra-compact and efficient motors and generators, is planning to add at least 41 new jobs, after winning a £1m regional growth fund (RGF) grant.

The grant, along with almost £5m of investment by Magnomatics itself, will create the new jobs by early 2015 and allow the company to further develop its magnetic transmission systems and high-torque electrical products.

Magnomatics’ managing director Chris Kirby, says the investment will help the company to “transition its innovative products into production for use in electric vehicles, trains and ships around the world” as well as creating “a number of new highly skilled jobs”.

The £1m RGF grant has been made by the Sheffield City Region Local Enterprise Partnership.

Magnomatics was formed in 2006 as a spinout from Sheffield University’s electrical machines and drives research group. The company supplies its magnetic transmissions and compact machines to customers in industries including renewable energy, automotive, aerospace, marine and defence.

A cutaway view of a direct-drive system developed by Magnomatics

In 2012, it secured £2.5m of funding to develop magnetically geared motors and generators for the hybrid and electric vehicle market. Of this, £1.06m was provided by IP Group, matched by a similar contribution from Finance Yorkshire. Fusion IP also invested £366,000 in the technology.

Magnomatics recently received a £100,000 Smart award to develop a second generation of its compact Magsplit device that combines a magnetic gear and a motor-generator. The technology, aimed at hybrid electric vehicles, is said to improve efficiency and thus fuel economy compared to conventional gear and motor-generator combinations, as well as freeing up space.

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