Electrification venture Tau delivers prototype wire to the automotive industry and finalizes its €10.25m series-A round
Thursday 22 July, 2021Turin/Berlin, 22 July 2021 – Coinciding with the milestone of delivering prototype winding wire to the automotive industry, Tau concluded its financing round with additional funding from Finindus, a Belgium-based investment company financed by ArcelorMittal and the Flemish Region, and a top-up by German specialty chemicals company ALTANA.
Tau develops high-performance wire that combines minimized partial discharge, high filling factors, greater temperature resistance, high-voltage and frequency optimization. This enables global producers of electric motors, cars, buses, trucks and aircraft to double the power output of future traction motors while keeping their size.
"Years of research have allowed us to be developing coated metal wires and sustainable manufacturing technologies with a radically reduced environmental footprint. Our fast-growing team of electrical, chemical, quality and mechanical engineers relentlessly optimizes our processes with exciting new polymers and data analytics from production to achieve our goal to set the new global standard for wire coating", says Piero Degasperi, Tau’s CTO and co-founder.
Tau’s DryCycle® solvent-free process eliminates emissions of harmful volatile organic compounds and greenhouse gases, and minimizes the use of resources, energy consumption and waste. LILIT® controls the insulation quality of winding wire and electrical steel.
"Enabling transformational change essential to decarbonize energy requires a sustainable mindset for all our stakeholders: employees and their families, customers, suppliers, investors and nature. For Tau this means creating solutions for the electrification of transport and industry as well as embracing environmental responsibility, ethical leadership, personal growth and continuous learning", explains Daniel Rutz, CDO of Tau.
Finindus joins the existing investor group including ALTANA, the Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth fund), the leading sovereign wealth funds of the Middle East and other individual and financial investors. "Tau’s dry coating technology offers the ability to apply coating systems of diverse chemistries in an environmentally friendly way on metal wires with advanced geometries. This has the potential to unlock significant performance for electric motors especially in e-mobility applications", confirms Hans Maenhout, Investment Director at Finindus.
About Tau
Tau is a technology and sustainable manufacturing company at the core of the electrification of transport and decarbonization of energy. Its research, development, incubation and patented technologies pair environmental responsibility with superior performance and peace-of-mind operating simplicity. Tau focuses on carbon-conscious protective coatings for high-performance and standard copper, aluminium and steel wires. Tau has offices in Turin (Italy), Moscow (Russia) & Berlin (Germany).
Visit www.tau.group or follow Tau on Twitter and LinkedIn.
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