PITTSBURGH, Pennsylvania PA – August 23, 2021 – CorePower Magnetics Inc. recently kicked off a phase one SBIR funded by the Department of Energy’s Vehicle Technology Office. The program represents $200,000 of undiluted funding and accelerates the company’s motor technology roadmap.
The program seeks to establish a foundation for technology transfer and commercialization of Carnegie Mellon University-developed axial motor technology with Niron Magnetics iron nitride rare earth-free permanent magnet technology for electric vehicles.
“CorePower Magnetics is excited to work with the Vehicle Technology Office, Carnegie Mellon University and Niron Magnetics to pursue an integrated solution for the rapidly growing EV market,” said Dr. Samuel Kernion, CorePower Magnetics’ Chief Executive Officer.
The program represents the third successful SBIR/STTR non-dilutive funded program for CorePower Magnetics. In May, the team successfully wrapped up a phase one Air Force SBIR focused on high temperature inductors for hybrid electric aviation. In April, the team also launched a phase one DARPA STTR program in collaboration with Carnegie Mellon University and University of Pittsburgh. This six-month effort focuses on applying CorePower Magnetics technology across an array of Department of Defense applications for inductors, transformers and high-speed motors.
“These non-dilutive funding sources continue to advance CorePower Magnetics’ technology portfolio and adoption while accelerating the company’s business development,” said Kernion.
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About CorePower Magnetics, Inc
Established in Pittsburgh, PA, in 2020, CorePower Magnetics is bringing high performance power electronics components to market, building upon soft magnetics technologies invented at Carnegie Mellon University and the National Energy Technology Laboratory. Finished power electronics components including inductors and transformers operate with increased temperature stability in smaller, lighter packages.
The CorePower Magnetics founding team includes the inventors of the underlying technology, combined with the necessary business expertise to bring this technology to market. With deep experience across soft magnetics, manufacturing and commercializing technologies, CorePower Magnetics is ready to power the future.
CONTACT
Sam Kernion
Chief Executive Officer
412.443.3922
www.corepowermagnetics.com