Motor firm 'to power on' with £16 million supportAn electric motor and powertrain system maker says it is poised to press the accelerator pedal after securing £16 million support. Advanced Electric Machines has been backed to expand its product portfolio. The support comes after the Newcastle University spin-out unveiled a car maker deal with an Asian operator and a previous £23 million investment round. Greg Debicki, Barclays Climate Ventures’ director – principal investments, said: “We are delighted to support Advanced Electric Machines. Turquoise International, assisted by Magma International AG, acted as corporate finance adviser on the deal, with Newcastle-headquartered law firm Sintons providing legal counsel to Advanced Electric Machines.