AI Investments: How Family Offices Are Adapting to New Technologies
Family offices are increasingly investing in AI technology to enhance operations and decision-making. Discover the latest trends.
Advanced Magnet Lab (AML)
Advanced Magnet Lab (AML)
Melbourne Florida based company the Advanced Magnet Lab (AML) had a remarkable 2020. AML is a privately held company that is developing novel electric motor propulsion technologies and a process for producing permanent magnets outside of China.
In 2020, AML closed on three significant funding events, including:
- Licensing Agreement with a large US company and enabled AML to complete the product development of a breakthrough magnet design and manufacturing technology. Called PM-Wire™, it reduces the cost and significantly improves the performance of the end-use products such as motors.
- Project MITUS. Funding (U.S. Source Confidential) the design and build of a PM-Wire™ Pilot Manufacturing Line. The line will be commissioned and ready for high volume manufacturing by December of 2021.
- US Department of Energy – Award funding the development of All-Electric Drivetrains for large commercial aircraft using PM-Wire™ by 2023.
Magnets are a critical component to consumer products like power tools, appliances, cell phones, electric vehicles, drones, wind turbines and defense systems.
The year 2021 begins with a backlog of PM-Wire™ design and prototype contracts transitioning by years end goal for bringing “Manufacturing Back to America”!
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