SAN FRANCISCO, June 28, 2019 /PRNewswire/ -- Software Motor Company is excited to announce that technology industry leader Prith Banerjee has joined its board of directors.
"Software Motor Company is taking on pollution, the critical issue of our age, by radically reducing energy consumption by electric motors," said Ryan Morris, Executive Chairman of SMC. "Prith brings deep technology, research, engineering, and organizational expertise, from academia to industry. SMC motors are software wrapped in metal, designed in simulation with ANSYS' powerful tools, leveraging the exponential tailwinds from Moore's Law. We're very honored to welcome him to our board."
Dr. Banerjee is CTO of ANSYS, the global leader in engineering simulation. He previously served as executive vice president and CTO of both Schneider Electric and ABB. He has led research efforts at both Accenture Technology Labs and HP Labs. In addition to serving as dean of the College of Engineering at the University of Illinois at Chicago, his academic career has included positions at the University of Illinois at Urbana-Champaign and Northwestern University. He has also founded AccelChip and BINACHIP, both electronic design automation solution companies.
Dr. Banerjee will help SMC scale its business designing and installing the world's most reliable, efficient, and intelligent motor system. Motors power every machine that runs on electricity, and they consume 45% of the world's generated electricity.
Now piloting with dozens of major retailers and restaurants, SMC's motors are driving average energy savings of 55% from their HVAC systems. If we were to apply that performance to the entire HVAC sector, it would reduce global carbon emissions by 3.2 gigatons, which is the equivalent of 10% of all global emissions from fossil fuels.
SMC recently raised a series A-2 of $31,415,926 from a consortium of strategic investors, including JLL Spark and Meson Capital. SMC has now raised $48M total since 2014.
"I am delighted to bring my experience of motors and drives from ABB and Schneider Electric, and simulation-based product innovation from ANSYS to SMC and its revolutionary design of synchronous reluctance motors to solve the energy reduction problem in industrial design," said Dr. Banerjee.
About Software Motor Company
Software Motor Company (SMC) has developed the world's most efficient electric motor system, based on revolutionary switched reluctance technology, managed by advanced cloud software. SMC's vision is to reduce global electricity consumption by 25%, which is the equivalent of retiring every coal power plant in the world. SMC is based in Sunnyvale, Calif., with offices in San Francisco; Arlington, Wash.; and Kennesaw, Ga. SMC is partnering with dozens of pilot customers and reducing their motor electricity consumption by more than half. SMC is also partnering with agriculture technology company VES to revolutionize the efficiency, environmental impact, and health of animal agriculture. For further information, visit softwaremotor.com.
SOURCE Software Motor Company