E-mobility venture Tau tops up Series A funding to €6.75m to accelerate wire development and start production
Thursday 4 February, 2021Tau’s wire set to double the power of electric motors
Turin/Berlin, 4 February 2021 – Turin-based e-mobility and advanced materials venture Tau has secured an investment of a consortium of two leading Middle Eastern sovereign wealth funds, the Russian Direct Investment Fund (RDIF) and a German investment manager to top up its ongoing series A equity investment round to a total of EUR 6.75m. This round’s initial investment was made by the corporate venturing arm of German specialty chemicals company Altana AG.
The funds will be used to speed up new product development, widen the product range of high-performance wires and to scale up industrial production to deliver to global producers of electric cars, buses, trucks, aircraft and ship vessels from early 2022 onwards.
“Electrification of transport means for us embracing essential transformational change. It is more than just better materials – it is the reconciliation of our carbon-conscious, sustainable, future-oriented mindset with furious engine power and fun. Tau’s vision is to double the power of electric motors of a given size, and we are excited these investors endorse it and join us”, explains Francesco Taiariol, co-founder and Chief Executive Officer of Tau.
“Our customers are thrilled about the disruptive performance capabilities for motor development that our magnet wire enables: lowest partial discharge, high filling factors, temperature resistance of over 250°C as well as higher voltage and frequency optimisation. We designed our proprietary technologies to deliver flawless wire with the reliability and precision that e-mobility demands for smaller, lighter and more powerful motors”, says Filippo Veglia, co-founder and Chief Sales Officer of Tau.
Tau’s DryCycle® technology sets a new, sustainable standard of wire coating. The strict use of solvent-free polymers eliminates the emission of harmful VOC and greenhouse gases. A significantly simplified production process minimizes the use of resources, reducing energy consumption and waste. Tau’s LILIT® technology provides the essential inline quality control to assure reliability of polymer insulation in magnet wire and electrical steel.
The series A financing corroborates Tau’s rapidly growing momentum with motor developers and product development. As part of the transaction, the new investors take an additional board seat for a minority stake.
About Tau
Tau brings disruptive performance, sustainability & reliability to the copper and steel core of electric motors. Focused on applications for automotive, energy and agriculture, Tau makes protective coatings for copper, aluminium and steel more durable, resistant and light, optimizes underlying production processes for environmental friendliness, pairs artificial intelligence with peace-of-mind operating simplicity, and incubates exciting technologies in smart sensors. Tau has some 40 employees across offices in Turin (Italy), Moscow (Russia) & Berlin (Germany).
For more information, visit www.tau.group or follow Tau on Twitter and LinkedIn.
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