SUNNYVALE, Calif., Jan. 22, 2018 /PRNewswire/ -- Software Motor Company (SMC) is making its debut and unveiling its 'LED of Motors' at this year's AHR Expo. The company also announced that it closed a Series A round of $13,141,592 in early fall 2017 led by Meson Capital Partners, LLC and several strategic investors, and appointed Ryan J. Morris as its Executive Chairman.
SMC has developed, patented and commercialized intelligent, ultra-high-efficiency motors that dramatically improve the performance of HVAC, refrigeration, and pumping systems. SMC motors make systems more economical to operate and cut energy use and costs, helping companies reduce their utility bills and carbon footprint with more sustainable and maintainable buildings.
"Software Motor Company aims to disrupt an industry that has seen little innovation over the last 40 years. We are poised for rapid growth as we take the wraps off our 'LED of Motors' and introduce our multiple award winning IoT devices to the market," said Ryan J. Morris, SMC's Executive Chairman. "Our headcount has doubled in the last several months and we are only accelerating. We are building a culture of smart, empowered people who are disrupting the $100 billion-plus market of electric motors that consume over 45 percent of global electricity – more than double the footprint of lighting."
Customer field data collected over the last year have found SMC's motor system delivers energy savings representing a 20 to 50-plus percent improvement compared to NEMA Premium Efficiency motors in the 1-5 HP range. These unprecedented energy savings are from a combination of superior motor efficiency at all speeds and a smart control system that operates the motor at the optimum speed required to achieve its operational goal. Companies can typically recoup their costs within 6 months to 3 years even before receiving utility rebates.
"After refining this innovative design and technology for years, today marks an important day for us," said Mark Johnston, SMC's President and CEO. "We are thrilled to now be scaling the business across a range of industries and providing intelligent motor systems that are networked, fully programmable, and capable of maintaining optimal efficiency across a wide range of operating speeds and torque loads."
The company was founded in 2013 by acquiring a modified Switch Reluctance Machine (SRM) technology from a group of academic leaders in the field from Illinois Institute of Technology (IIT). SRM motors have been proven for decades in harsh environments where high reliability is essential such as mines, nuclear reactors, and hybrid diesel engines but have historically not been high efficiency. Based on advances in mobile computing and power electronics, SMC has invented novel control techniques that enable unprecedented reliability and efficiency.
SMC currently offers motors from ½ to 5HP; it plans to introduce models up to 20HP this spring and 100HP later this year.
The company has received awards from the Cleantech Open, National Science Foundation (NSF Small Business Innovation Research Phase I and Phase II awards), National Research Energy Lab (NREL Innovation Incubator awards), General Service Administration (GSA Proving Ground Program award), Department of Energy (DOE High Impact Technology Innovation Catalyst Program award) and a Californian Energy Commission energy efficiency technology award.
SMC will be at AHR Expo Booth 8818 briefing companies on ways to take advantage of its revolutionary motors and IoT building automation technology to create and operate highly intelligent and efficient energy systems. Financing options include flexible pricing plans and models with zero upfront costs.
About Software Motor Company Software Motor Company (SMC) is the world-leading provider of ultra-high-efficiency motors that feature a patented, software commutated, high rotor pole switched reluctance motor system. The company was founded in Silicon Valley to bring the benefits of the Internet of Things secure wireless networking and big data to electric motors, which collectively consume over 45 percent of global electricity. SMC motors are easy-to-install and integrate with new and legacy HVAC, refrigeration, and pumping systems, and deliver energy savings that are 20 to 50 percent higher than existing NEMA Premium Efficiency solutions. Please visit our website at www.softwaremotor.com for more information.