Turntide Technologies

History

2021: Raising $80 million, including from Gates and Bezos funds

In mid-March 2021, American cloud-driven engine developer Turntide Technologies raised $80 million in a round of funding that was led by Breakthrough Energy Ventures, co-founded by Microsoft Bill Gates. Other investors include Amazon Climate Pledge Fund (established by Amazon founder Jeff Bezos), Footprint Coalition Ventures actor Robert Downey Jr., Keyframe Capital, Fifth Wall and Captain Planet LP. The total funding of Turntide, taking into account the last round, amounted to $180 million.

The Turntide-patented Smart Motor system uses a type of motor known as an adjustable magnetic resistance or SRM motor. Unlike the asynchronous approach of AC motors, which is used in 98% of cases, this engine has only one moving part: a strong steel rotor that rotates in an adjustable magnetic field.

Gates and Bezos invested in a cloud-controlled electric motor developer

SRM is preferably used in conditions where engine failure is fraught with disaster, for example, in nuclear power plants or mining plants. But the inability to fully control previously did not allow the widespread use of these engines in the commercial market. The Turntide cloud software platform makes SRM more manageable and allows you to achieve much more efficiency than using the usual asynchronous motors.

Turntide's Smart Motor system is designed for a huge market and provides not only higher efficiency, but also lower cost, "said Carmichael Roberts, member of Breakthrough Energy Ventures.

Amazon, BMW, Five Guys, Sprouts and JLL have already upgraded their heating, ventilation and air conditioning systems with the Smart Motor System, reducing energy consumption by an average of 64%. Turntide also supplies ventilation and air conditioning systems for Pacific Energy Concepts.^[1]

Notes