Kite Magnetics, a spinout from Monash University, has raised $3.6 million to take its breakthrough magnetic material, Aeroperm®, to pilot production. The funding round, led by SQM Lithium Ventures, signals growing confidence in Australian clean tech and could mark a turning point for electric vehicle efficiency worldwide.
Aeroperm® is a nanocrystalline material designed to dramatically improve the performance of electric motors and generators. Developed from years of research at Monash University, it reduces energy losses in stator cores by as much as 97 per cent and allows manufacturers to replace traditional materials without compromising performance. The upshot? Lighter motors, longer vehicle range, and lower production costs.
Dr Richard Parsons, Founder and CEO of Kite Magnetics, said the funding would help the company move from prototype to pilot-scale manufacturing.
“We’re excited to have SQM Lithium Ventures onboard,” he said. “This investment helps us accelerate commercial rollout. Increasing vehicle range while cutting weight and cost isn’t just a performance upgrade—it’s key to making EVs more accessible.”
The capital raise will be used to establish a pilot production facility in the Monash Technology Precinct, hire specialist staff, and grow the company’s international footprint. Already partnered with major equipment manufacturers in the automotive and mining sectors, Kite Magnetics is looking to expand into global markets where energy efficiency translates directly into competitive advantage.
Dr Ingmar Wahlqvist, Senior Director of New Ventures and Investments at Monash University, said the deal illustrated the university’s commitment to bridging research and real-world application.
“Support from international venture capital firms like SQM Lithium Ventures highlights the global relevance of Australian innovation. Kite Magnetics is a great example of research translation—transforming foundational science into industrial impact,” he said.
Aeroperm® was born out of research by Professor Kiyonori Suzuki in the Faculty of Engineering. Unlike traditional magnetic materials, which typically involve trade-offs in weight or performance, Aeroperm® allows for direct integration into existing designs while delivering unprecedented efficiency gains. Its potential spans beyond electric vehicles, with applications in stationary generators and machinery used in mining and other heavy industries.
Dr Alastair Hick, Monash University’s Chief Commercialisation Officer, said the investment marked a strong endorsement of both the technology and the team behind it.
“This deal reflects SQM’s broader commitment to sustainable innovation and recognises Kite Magnetics as a leader in this space,” he said.
The funding round was oversubscribed, with SQM Lithium Ventures joined by Monash Investment Holdings and other early backers. The global lithium producer’s investment arm has been stepping up its activity in clean tech, seeing materials science as a key enabler of the energy transition.
For Kite Magnetics, founded in 2021, the new investment marks a shift from scientific promise to industrial scale-up. By focusing on components that enhance both performance and sustainability, the company is positioning itself as a quiet enabler in the push to decarbonise transport and industry.
From the lab benches of Clayton to partnerships with global manufacturers, the journey of Aeroperm® is a reminder that technical breakthroughs don’t always come with fanfare. Sometimes they come wrapped in nanometres of innovation—and can take an electric vehicle further than expected.
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