PRESS RELEASE
from Fund2seed GmbH
Cast Coil GmbH: Winner of the Econic Start-Up Award 2023
Issuer: fund2seed GmbH / Key word(s): Product Launch/Patent
Cast Coil GmbH: Winner of the Econic Start-Up Award 2023
04.10.2023 / 08:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
Producing electric drives in a resource-saving way - the concept of Cast Coil GmbH convinces at the Sustainability Congress 2023
Muenster, 04 October 2023 – Electric motors are an essential component for a climate-neutral future. They can be used to substitute traditional combustion engines, which are almost exclusively powered by fossil fuels.
A research team at Fraunhofer IFAM has developed an innovative technology which enables the use of aluminium instead of copper in the production of electric motors. This is achieved through the use of a new type of casted coil (CAST COIL), which offers an increase in performance, weight reduction and many other advantages for electric motors. This innovative approach not only significantly reduces production costs, but also has a positive impact on the environmental balance: aluminium is lighter than copper, which leads to a significant reduction of weight of the motors and thus reduces energy consumption in electro mobility and industrial applications. The founding partners of Cast Coil GmbH are three employees of Fraunhofer IFAM. Beginning of September, the start-up was registered in the commercial register and the team is proud to have already won the first award.
Franz-Josef Woestmann, inventor and managing director of Cast Coil GmbH: "CAST COIL is a groundbreaking development. The casted coils can be manufactured by classic foundries, provide a significant increase in performance and thus allow significantly higher energy efficiency."
Arguments that were convincing at the Sustainability Congress in Frankfurt. The Sustainability Congress 2023 of the media company Otto Schmidt KG is a top event for decision-makers, experts and those interested in the topic of sustainability in corporations. The Econic Start-Up Award honours young companies that drive the transformation of the economy with innovative products and creative business models.
"When we started developing the CAST COIL 's more than 10 years ago, we were already convinced that electric drives would play a significant role in the transformation. The aim of our development was to offer the industry a significant leap in performance as a competitive advantage and at the same time enable resource-saving production. The award shows that we have chosen the right path. At the same time, it’s our responsibility to follow up the title with results." Franz-Josef Woestmann further states.
ABOUT CASTCOIL
Cast Coil GmbH, headquartered in Muenster, Germany, has the exclusive rights of use and marketing of the Fraunhofer's CAST COIL technology. With a team of scientists and practitioners, the company enables licensees to produce CAST COIL's in high quantities and quality and at the same time imparts the know-how about the use and possibilities of new geometries and materials to the manufacturers of electric motors and generators.
Contact: Franz Josef Wöstmann
franjo.woestmann@castcoil.de
Tel: +49 (176) 87897007
www.castcoil.de
Muenster, 04 October 2023 – Electric motors are an essential component for a climate-neutral future. They can be used to substitute traditional combustion engines, which are almost exclusively powered by fossil fuels.
A research team at Fraunhofer IFAM has developed an innovative technology which enables the use of aluminium instead of copper in the production of electric motors. This is achieved through the use of a new type of casted coil (CAST COIL), which offers an increase in performance, weight reduction and many other advantages for electric motors. This innovative approach not only significantly reduces production costs, but also has a positive impact on the environmental balance: aluminium is lighter than copper, which leads to a significant reduction of weight of the motors and thus reduces energy consumption in electro mobility and industrial applications. The founding partners of Cast Coil GmbH are three employees of Fraunhofer IFAM. Beginning of September, the start-up was registered in the commercial register and the team is proud to have already won the first award.
Franz-Josef Woestmann, inventor and managing director of Cast Coil GmbH: "CAST COIL is a groundbreaking development. The casted coils can be manufactured by classic foundries, provide a significant increase in performance and thus allow significantly higher energy efficiency."
Arguments that were convincing at the Sustainability Congress in Frankfurt. The Sustainability Congress 2023 of the media company Otto Schmidt KG is a top event for decision-makers, experts and those interested in the topic of sustainability in corporations. The Econic Start-Up Award honours young companies that drive the transformation of the economy with innovative products and creative business models.
"When we started developing the CAST COIL 's more than 10 years ago, we were already convinced that electric drives would play a significant role in the transformation. The aim of our development was to offer the industry a significant leap in performance as a competitive advantage and at the same time enable resource-saving production. The award shows that we have chosen the right path. At the same time, it’s our responsibility to follow up the title with results." Franz-Josef Woestmann further states.
ABOUT CASTCOIL
Cast Coil GmbH, headquartered in Muenster, Germany, has the exclusive rights of use and marketing of the Fraunhofer's CAST COIL technology. With a team of scientists and practitioners, the company enables licensees to produce CAST COIL's in high quantities and quality and at the same time imparts the know-how about the use and possibilities of new geometries and materials to the manufacturers of electric motors and generators.
Contact: Franz Josef Wöstmann
franjo.woestmann@castcoil.de
Tel: +49 (176) 87897007
www.castcoil.de
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