H3X, a Denver, CO-based manufacturer of high power density electric motors, raised $20M in Series A funding.
The round was led by Infinite Capital, with participation from Hanwha Asset Management, Cubit Capital, Origin Ventures, Industrious Ventures, Venn10 Capital, Lockheed Martin Ventures, Metaplanet, Liquid 2 Ventures, and TechNexus.
Led by CEO Jason Sylvestre, H3X is a technology and electric motor manufacturing company designing, manufacturing, and testing integrated motor drives at their 17,000 sq-ft headquarters facility. The company aims to become a global supplier of advanced electric motors by 2030 to drive deep decarbonization in aviation, marine, and heavy industrial applications and unlock next-generation electrified defense technology to strengthen national security.
In the past 24 months, H3X has validated its high-performance core technology, launched the HPDM-30, HPDM-250, and HPDM-140 integrated motor drives, and delivered these units to leading aerospace and defense customers. They also completed multiple contracts with both NASA and the Air Force.
With the funding, the company plans to expand production and bring its next-generation, multi-sector class of integrated motor drives to the market (HPDM-350, HPDM-1500, and HPDM-2300). The HPDM-1500 and HPDM-2300 are megawatt-class machines that will enhance the performance of electric aircraft through their high power density and fault tolerance. In some cases, aircraft range can be doubled by using H3X motors versus conventional solutions by freeing up weight for additional energy storage onboard. These megawatt-class machines will also unlock new market segments for H3X in both marine and heavy industry.
FinSMEs
06/08/2024