Meanwhile, Footprint Coalition – a company owned by Downey Jr. and Bill Gates’ Breakthrough Energy Ventures both joined Amazon Climate Fund and BMW’s iVentures fund in the fundraising.
As of this writing, Turntide Technologies has raised roughly $180 million in financing including today’s disclosure of an $80 million investment round, which closed last October.
“Two years from now we will definitely be in electric vehicles. Our technology has huge advantages for the electric vehicle industry. There are no rare earth minerals. Every EV uses rare earth minerals to get better performance of their electric motors. They’re expensive, destructive to mine and China controls 95% of the global supply chain for them. We do not use any exotic materials, rare earth minerals, or magnets… We’re replacing that with very advanced software and computation. It’s the first time Moore’s law applies to the motor.” Morris added.
