Artificial Intelligence and Its Impact on Family Office Operations
Discover how artificial intelligence is reshaping family office operations in 2026.
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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