ATExpo 2006: Assembly automation firm announces new funding
MagneMotion's QuickStick LSM modular, linear synchronous motor system for assembly automation and material handling combines pallet and vehicle propulsion, positioning, and feedback in a single module.
Acton, MA— More funding for a magnetic levitation technology provider could eventually translate into 80% savings in lifecycle costs for your next conveyor system, according to some estimates. MagneMotion , a developer and manufacturer of assembly automation, material, and transportation systems that use electro-magnetic technology, has secured a $3 million mezzanine round of funding for growth and marketing of its linear synchronous motor (LSM) and core development of its magnetic levitation (MagLev) technologies. The announcement coincided with the firm's participation at the Assembly Technology Expo held last week in Rosemont, IL (near Chicago).
The funding is led by Massachusetts Capital Resource Co. MagneMotion received $2 million in equity and $1 million in subordinated debt financing. The money will be used enhance MagneMotion's products. Recent initiatives include the development of an urban MagLev demonstration system in cooperation with the Federal Transit Administration and an LSM-based weapons transport elevator for the U. S. Navy. MagneMotion's QuickStick LSM propulsion and control system is said to provide a faster, cleaner, and more advanced alternative to conventional methods of assembly automation and material handling.
MagneMotion's electromagnetic transportation, assembly, and logistics systems use linear synchronous motors and MagLev technology to automate manufacturing and transportation systems. The technology is scalable and adaptable to many applications from small material handling systems and large people movers. Key elements include linear motor propulsion, position sensing, guidance, and control. Less maintenance resulting from fewer moving parts is among the technologies greatest advantages, said Joseph Meagher, MagneMotion's product manager, demonstrating the system on the show floor. Meagher noted one customer in Asia cut costs some 80% replacing a traditional conveyor system with an electromagnetic-based one.
—Control Engineering Daily News Desk
Jeanine Katzel , senior editor