November 26, 2012
QM Power Raises $6 Million to Commercialize Motor and Generator Technologies
QM Power Inc., a company redefining energy efficiency and power density in electric motors, generators and actuators announced a $6 million Series B financing led by Bright Capital.
QM power’s Q-Sync™ and Parallel Path Magnetic Technologies (PPMT™) are being heralded as next-generation electric motor and generator solutions due to the significant energy-saving, size, weight, reliability and cost benefits for businesses and consumers. QM Power is the first company to commercialize Q-Sync and PPMT technologies backed by ongoing contracts with the Department of Energy, US Army, US Navy, NASA, National Science Foundation and commercial development partners. QM Power’s vertically integrated development capability, world-class team and intellectual property position the company well to deliver game changing products to the commercial refrigeration, HVAC, industrial, traction vehicle, power generation, consumer and military markets.
"The investment from Bright Capital substantiates Q-Sync and PPMT as the next generation electric motor and generator technologies," said PJ Piper, CEO of QM Power. "The need for greater energy efficiency and power density remain the key drivers for improving electromechnical performance. Todays strategic financing, coupled with earlier investments, enables the commercialization of these disruptive technologies and helps reduce costs for end users."
QM Power is a private high growth clean technology company developing and commercializing advanced electric motors, generators and actuators. To learn more about QM Power, visit www.qmpower.com.
Bright Capital is a multi-stage venture capital and growth equity firm. Bright invests globally in a wide range of promising companies solving problems in a variety of clean technology, industrial bio, telecom/electronics and IT markets and was recently named investor of the year in the 2012 Global Cleantech 100. To learn more about Bright Capital, visit www.bright-capital.com.