Advanced Electric Machines secures £16m for rare‑earth‑free motor tech

Advanced Electric Machines (AEM), a Sunderland‑based spin‑out of Newcastle University, has secured a £16 million funding round led by Northstar Ventures, Barclays Climate Ventures, PXN Ventures and the Low Carbon Innovation Fund, with additional loan support from Innovate UK. The investment will be used to develop a new range of electric motors that eliminate permanent magnets and rare‑earth materials, targeting heavy commercial vehicles, trucks, buses and construction machinery. AEM will expand its Washington facilities, increase production capacity and create more than 20 skilled engineering, manufacturing and supply‑chain jobs, adding to its existing workforce of over 60 staff. The technology aims to reduce supply‑chain risk, improve recyclability and support the rapidly growing UK electric‑vehicle market.