Venture Profile: QM Power
QM Power, Inc. (â€śQuantum Magnetic Powerâ€ť) was formed in 2006 to capitalize on proprietary and patented advances in a low cost, high performance electric motor, generator and actuator technology called Parallel Path Magnetic Technology (PPMTâ„˘).President & CEO: PJ Piper
Venture: A Round
QM Power, Inc. ("Quantum Magnetic Power") was formed in 2006 to capitalize on proprietary and patented advances in a low cost, high performance electric motor, generator and actuator technology called Parallel Path Magnetic Technology (PPMTâ„˘). PPMT is a breakthrough technology that uses permanent magnets in a novel yet simple and efficient magnetic circuit design that can substantially reduce cost and improve performance for almost any electro-mechanical application. PPMT products operate far more efficiently over a wider power range than conventional/existing AC or DC electric motors, generators and actuators. They have higher power density and reliability, run cooler and are much lighter, smaller and lower cost.
There are various market applications for the companyâ€™s technology, including electric vehicles, power generation, government & defense, and commercial products. When asked about the latest updates since their conference presentation in June 2008, Mr. Piper, President & CEO of QM Power, tells NWN, â€śWe cannot disclose exactly who we are working with, but they are some of the largest power tool, aerospace, automotive and industrial companies in the world. We also anticipate we will be shipping product (limited quantities) before the end of this year.â€ť He also noted they closed Series A financing for an undisclosed amount.