Magnomatics expanding following £1m boost

Magnomatics, the Sheffield based developer of magnetic transmissions and ultra compact motors , is expanding following £1m of support from the government’s Regional Growth Fund (RGF).

The funding, along with almost £5m of investment from Magnomatics, will create 41 highly skilled jobs at the company and allow it to bring to market its innovative products for vehicles, trains and ships around the world.

Magnomatics is a spin out company from Sheffield University that since its incorporation in 2006 has specialised in the development of energy efficient technologies, which enable fuel savings and carbon reduction across a range of applications and market sectors.