REL Makes Lead Investment in Infinitum Electric's $80M in Series D Round
to Scale Production of High-Efficiency Motors
18 May 2022 - Riverstone Energy Limited (REL) is pleased to announce a lead investment in Infinitum Electric, creator of the breakthrough air-core motor. Infinitum Electric will use the investment to vertically integrate and automate production of its motors for the commercial and industrial market segments, and complete development and commercialisation of a traction motor for the rapidly growing electric vehicle market.
Riverstone Holdings led the round with Applied Ventures, the venture capital arm of Applied Materials, Inc. (NASDAQ: AMAT), Alliance Resource Partners and existing investors Cottonwood Technology Fund, Chevron Technology Fund, Aventurine Partners, Energy Innovation Capital and Ajax Strategies participating, bringing the company's total funding to date to $135 million.
"Decarbonisation across commercial, industrial and consumer markets driven by ESG and the energy transition creates wide scale opportunities for Infinitum Electric's motors to power a new generation of machines with greater performance, and at a fraction of the carbon footprint of traditional motors," said John Staudinger, managing director of Riverstone Holdings. "We're excited to welcome Infinitum Electric to our portfolio and partner with Ben Schuler and his extraordinary team as they scale production of motors that are better for the planet and people."
This investment, along with the recent decarbonisation investments in T-REX Group, Anuvia, and Tritium Pty, among others, demonstrates REL's continued efforts to increase its exposure to the global energy transition thematic while also providing the opportunity to create value for its shareholders.
About Infinitum Electric
Founded in 2018, Infinitum Electric has raised the bar for a new generation of motor that is better for the planet and people. The company's patented air-core motors offer superior performance in half the weight and size, at a fraction of the carbon footprint of traditional motors, making them pound for pound the most efficient in the world. Infinitum Electric motors open up sustainable design possibilities for the machines we rely on to be smaller, lighter and quieter, improving our quality of life while also saving energy. Based in Austin, Texas, Infinitum Electric is led by a team of industry experts and pioneers. To learn more, visit www.infinitumelectric.com.
About Riverstone Energy Limited:
REL is a closed-ended investment company that has since 2020 been exclusively focussed on pursuing and has committed $167 million to a global strategy across decarbonisation sectors presented by Riverstone's investment platform. REL's ordinary shares are listed on the London Stock Exchange, trading under the symbol RSE. REL has 18 active investments spanning decarbonisation, oil and gas, renewable energy and power in the Continental U.S., Western Canada, Gulf of Mexico and Europe.