SpinDrive receives 3.8 million euros to reduce industrial energy waste

SpinDrive focuses on sustainable solutions: With €3.8 million in Series A funding, their technology could help improve energy efficiency. How magnetic bearings could improve industrial efficiency.

LAPPEENRANTA - SpinDrive, a Finnish company providing active magnetic bearings for OEMs, has successfully closed a €3.8 million Series A funding round. The round was led by Rhapsody Venture Partners, a US investor specializing in hardware, with participation from existing investors such as Innovestor from Finland and Born2Grow from Germany. This funding will help SpinDrive drive commercial growth and improve the efficiency of industrial processes worldwide.

We are experiencing a growing international demand for more energy efficient and environmentally friendly solutions in industry. Our active magnetic storage systems are designed to meet this demand.

Nikita Uzhegov, COO and co-founder of SpinDrive

The company plans to use the funds for global expansion and to offer manufacturers of industrial machinery a cost-effective way to increase their energy efficiency. SpinDrive offers a frictionless alternative to high-maintenance, oil-dependent bearing technologies. In addition, new types of active magnetic bearings will be developed for various applications.

SpinDrive's frictionless bearings, which are based on magnetic levitation, are smaller, more energy efficient and more cost-effective compared to competitors. They enable maintenance-free operation for up to 20 years, even in high-speed applications, by eliminating friction. Conventional ball bearings in high-speed industrial applications, on the other hand, require maintenance and replacement every 12-18 months.

A 1 MW unit offers an unbeatable small footprint and material efficiency combined with low energy consumption over the lifetime of the product.

Ville Lahdensuo, Director at Runtech Systems

A key advantage of SpinDrive bearings is that they operate without oil, avoiding the use of polluting lubricants. This not only contributes to the ecological improvement of production, but also opens up access to new markets such as food, beverage, pharmaceutical and semiconductor production, where hygienic, contamination-free processing is required.

The energy savings from SpinDrive's frictionless bearings could be significant, especially in large machines with power consumption of 100 kW to several MW. By eliminating friction, these bearings can increase energy efficiency by up to 15%, which could mean a significant reduction in the global power consumption of industrial electric motors. SpinDrive sees improving energy efficiency as a crucial step in reducing industrial emissions. The company aims to save 500 Mt of CO2 emissions annually by 2050 by increasing the efficiency of industrial machinery.

SpinDrive bearings are typically used in turbocompressors, compressors, expanders and various process machines. Due to their smooth operation, they contribute to energy savings and show a promising future for more efficient industrial processes.

SpinDrive's funding to date totals 8 million euros, coming from a variety of investors and public funds. The company already serves customers in several countries and has offices in Finland and Germany.