Magnevane wins prize for world's best start-up
Magnevane wins prize for world's best start-up Magnevane has won the prestigious Unicorn Cup for the most investible start-up in the world. Dozens of companies globally compete for this coveted investor-judged award. (Unicorn Cup The World's largest start-up pitch contest https://unicorn.events/ and https://unicorn.events/007/) We are chuffed that our hard work and perseverance are now paying off. There is a clear need for energy efficient products to be prioritised as power sources become increasingly depleted and environmental pressures mount - said Gareth Rees, Magnevane Head of Business Development. Magnevane technology's unique selling proposition is an increase of more than 40% power per unit of compressed air, higher start-up torque, longer maintenance cycles and more consistent performance than any pneumatic motor on sale today. - industrial users account for approximately half of the annual US$3 trillion global electricity market. Pneumatic (compressed air) systems are used across many different industrial sectors and account for 15% of global industrial energy. - Magnevane has commercialised intellectual property that is disrupting the pneumatics sector. - pneumatic motors drive a huge range of industrial equipment and Magnevane has already identified 180 existing applications for its technology, from pumps to power tools. - Magnevane technology is delivering significant energy efficiency savings. Magnevane is redefining pneumatic performance benchmarks and driving a paradigm shift in pneumatic operating parameters. Gareth Rees added that The results from our first prototypes far exceeded our expectations, and we had created a pneumatic motor that was, already at that early stage of development, more efficient than the best motors in the world.