LEE'S SUMMIT, Missouri, February 26, 2013 /PRNewswire/ --
QM Power Inc., a company redefining energy efficiency and power density in electric motors, generators and actuators, announced the successful completion of its Q-Sync™ fan motor development for commercial refrigeration applications. This marks the first steps in QM Power's planned multi-product commercialization efforts, targeting a $10 billion global addressable market for Q-Sync™.
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, ARPA-E, 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.
In November 2012 QM Power Raised $6 million Series B financing led by Bright Capital. This investment substantiated Q-Sync and PPMT as the next generation electric motor and generator technologies and, coupled with earlier investments, enables the commercialization of these disruptive technologies to help reduce costs for end users.
"According to the International Energy Agency, motors consume 46% of all electricity produced globally, far exceeding any other category of electrical consumption," said Mark Austin, Bright Capital Partner. "Given our long-standing commitment to energy and energy efficiency, we are excited to partner with QM Power and to help be a catalyst for their growth."
QM Power is a private high growth clean technology company developing and commercializing advanced electric motors, generators and actuators. http://www.qmpower.com.
Bright Capital is an independent venture capital firm that invests globally in a wide range of promising companies. Its investments are made across multiple technologies in energy and resource efficiency, green technology, industrial biotech. Bright Capital was named "Cleantech Investor of the Year 2012" by the Cleantech Venture Group. The firm works as a merchant venturing entity in a multi-corporate model, building bridges especially between the US, Russia & CIS, Europe, Middle East and South Eastern Asia. http://www.bright-capital.com.
SOURCE Bright Capital