Kite Magnetics electric vehicle motor stator core components | Image Credit: Kite MagneticsMelbourne-based advanced materials company, Kite Magnetics, has secured $2 million in funding through the Federal Government’s Industry Growth Program to accelerate the commercialisation of its high-efficiency EV (electric vehicle) motor technology. Kite Magnetics has developed Aeroperm, a patented nanocrystalline soft magnetic material designed to replace conventional electrical steel in electric motor stator cores. The company says the material significantly reduces energy losses within the motor, improving efficiency without requiring manufacturers to redesign existing motor platforms. Aeroperm gives motor manufacturers a practical way to reduce losses and improve efficiency without having to completely redesign existing motor platforms.” Kite Magnetics is backed by investors including SQM Lithium Ventures, Investible and Innovation Victoria.