Central Texas electric motor company looks to grow in Austin, Mexico after $185M funding
Summary
In total, Infinitum has raised $350 million in funding to date.Infinitum said the latest funding will be used to grow the companys production to help meet customer demand and help aid decarbonization in the industrial sector.Electric motors consume over half of global electricity every year. "The company, which was founded in Austin in 2016, moved to Round Rock in 2019, where Infinitum has already since expanded once to its current 35,000 square-foot-space. Now, with part of its funding, Infinitum is moving its headquarters back to Austin into an even larger 90,000 square-foot building where the company plans to build out more advanced lab space.There is not enough room in our Round Rock facility to house all the people that we will have and all the testing or resources that we will need, Schuler said. "The new space enables all those things.The new Austin facility will house a range of the companys teams including those focused on engineering, research and development, testing, certification and operation, design for manufacturing infrastructure, and supply chain.The company is also expanding its manufacturing footprint in Mexico, adding a facility in Saltillo, about a half hour outside of Monterrey, which will be able to make 200,000 motors a year. "Its a massive opportunity for decarbonization and for us to deploy our high efficiency product and really drive down energy consumption," Schuler said.