In Motion Technologies (IMT), an important Charles Darwin University spin-off company, and the innovative developer of high efficiency axial flux electric motors, is to be acquired by US-based company, FASCO Motors as part of a new Asia Pacific R&D centre of excellence.
Minister for Business and Economic Development, the Hon Paul Henderson officially announced the acquisition to media and key stakeholders at the In Motion Technologies laboratories today.
’It’s great to see applied research from the Territory’s university not only making it to market but being recognised by one of the world’s larger go-ahead companies,’ said CDU Vice Chancellor, Professor Helen Garnett.
IMT was formed in 2002 to commercialise research undertaken by a team headed by CDU’s Professor Dean Patterson. IMT was responsible for designing ‘brushless’ motor technology. This technology was originally developed for CDU’s Desert Rose solar car and is now used in almost all of the world’s solar cars.
IMT has since adapted the technology for other applications such as air conditioners and fans, dramatically reducing the operating power requirements for these devices.
FASCO, a division of Tecumseh Products Company, a multi-billion dollar company listed on the NASDAQ, was attracted to the cutting edge technology developed by IMT.
The acquisition means the environmentally friendly motor technology will be manufactured and made available to the general public in a wide variety of new products.
To date the technology has been used by John Deere and produced for the Avanti Electra electric bicycle in conjunction with partner Avanti Bicycles.
The University appreciates and acknowledges the assistance received in the development of the acquisition as well as the role of Raoul Mortley, Chairman of IMT. FASCO and IMT were introduced by TFG International, who also assisted in the sale process.