Flux Drive raises USD1.5m for efficient motors

Tue Jul 26 2011, 11:22 AM

Flux Drive has raised USD1.5m in equity funding from Northwest Energy Angels and the Alliance of Angels, according to Xconomy. Founded in 2003, the Washington-based firm develops and manufactures permanent magnet adjustable speed drives for motors. Flux Drive claims its technology reduces energy consumption and extends the life of motor driven systems.

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