Tau finalises EUR10.25m series-A round
22/07/2021 - 1:49pm
Coinciding with the milestone of delivering prototype winding wire to the automotive industry, Tau has concluded its Aeries A financing round with additional funding from Finindus, a Belgium-based investment company financed by ArcelorMittal and the Flemish Region, and a top-up by German specialty chemicals company ALTANA.
Tau develops high-performance wire that combines minimised partial discharge, high filling factors, greater temperature resistance, high-voltage and frequency optimisation. This enables global producers of electric motors, cars, buses, trucks and aircraft to double the power output of future traction motors while keeping their size.
"Years of research have allowed us to be developing coated metal wires and sustainable manufacturing technologies with a radically reduced environmental footprint. Our fast-growing team of electrical, chemical, quality and mechanical engineers relentlessly optimises our processes with exciting new polymers and data analytics from production to achieve our goal to set the new global standard for wire coating," says Piero Degasperi, Tau’s CTO and co-founder.
Tau’s DryCycle solvent-free process eliminates emissions of harmful volatile organic compounds and greenhouse gases, and minimises the use of resources, energy consumption and waste. LILIT® controls the insulation quality of winding wire and electrical steel.
"Enabling transformational change essential to decarbonise energy requires a sustainable mindset for all our stakeholders: employees and their families, customers, suppliers, investors and nature. For Tau this means creating solutions for the electrification of transport and industry as well as embracing environmental responsibility, ethical leadership, personal growth and continuous learning," says Daniel Rutz, CDO of Tau.
Finindus joins the existing investor group including ALTANA, the Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth fund), the leading sovereign wealth funds of the Middle East and other individual and financial investors. "Tau’s dry coating technology offers the ability to apply coating systems of diverse chemistries in an environmentally friendly way on metal wires with advanced geometries. This has the potential to unlock significant performance for electric motors especially in e-mobility applications," says Hans Maenhout, Investment Director at Finindus.
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