Investment by Moog in Verdane portfolio company SmartMotor

25 Oct, 2011

Press release detailing the partnership between Moog and Verdane Capital V portfolio company SmartMotor

MOOG INVESTS AND ENTERS PARTNERSHIP WITH NORWEGIAN PERMANENT MAGNET MOTOR SPECIALIST, SMARTMOTOR

Moog Inc. (NY, USA) and SmartMotor (Trondheim, Norway) have entered a partnership that will strengthen their combined motion control offering for high torque electric machines. The combination of Moog’s market reach and expertise in motion control solutions involving electric actuation with SmartMotor’s patented Permanent Magnet rotating machine technology makes it possible to address high-torque motion control challenges, which would otherwise be addressed with more complicated hydraulic solutions or energy inefficient induction motor technology. Applications where this technology can readily be deployed include sub-sea pumping and drilling, renewable power generation, marine propulsion and deck machinery and heavy industrial machinery applications where extreme forces are at play in harsh environments. The value proposition of permanent magnet machines is very attractive as it offers lowered cost and weight, improved dynamic performance and more environmentally-friendly operations both in terms of energy efficiency and elimination of hazardous materials when compared to traditional machines.
 
 “The partnership with SmartMotor enables Moog to offer, for even high tonnage machines, an alternative for a smooth transition from hydraulic to electric control without worrying about the typical problems like space, incompatibility or limited technical performance”, says David Fijas, Group VP and GM Americas from Moog. Further, Moog, with the support of SmartMotor, intends to design, integrate and build compact electromagnetic solutions with leading OEMs in dynamic markets, where high torque, reliability and efficient performance is critical.
 
“This puts Moog in a leading position to cooperate with customers in a technology-independent manner; focusing on solving machine challenges while offering advanced compact solutions”, adds Fijas.
 
SmartMotor, a leading player in the field of electrical machines based on Permanent Magnet technology, will further strengthen its presence and support to global customers and markets through the partnership. “The partnership with Moog will strengthen our offering, providing diversity and global reach to our customers”, says Ståle Svenning, CEO of SmartMotor. “Moog’s presence will also enable SmartMotor to expand and enter new industries and customer segments”, adds Svenning.
 
 
For further information contact Ståle Svenning at +47 95 24 42 40 or stale@smartmotor.no or Dave Fijas at +1 (716) 583-7899 or dfijas@moog.com
 
 
About Moog
Moog Inc. is a worldwide designer, manufacturer, and integrator of precision control components and systems. Moog’s Industrial Group, designs and manufactures high performance motion control solutions combining electric, hydraulic, and hybrid technologies with expert consultative support in a range of applications including energy production and generation machinery, industrial production machinery and simulation and test equipment. We help performance-driven companies design and develop their next-generation machines. Moog’s Industrial Group, with fiscal year 2010 sales of USD 546 million and over 40 locations worldwide, is part of Moog Inc. (NYSE:MOG.A and MOG.B) which has sales of USD  2.11 billion. For more information please visit www.moog.com/industrial.
 
About SmartMotor
SmartMotor offers customized, compact, highly efficient, high-torque electrical machines with drives and controls based on patented Permanent Magnetic (PM) technology. Most machine designs are customized to specific, high torque applications often operating in very harsh and demanding environments, e.g. renewable power generation systems, marine propulsion, winches, pumping and drilling applications. SmartMotor originates from the Norwegian Technical University in Trondheim, Verdane Capital V, a Nordic private equity fund and Trondheim Næringsinvest, a regional investment fund are SmartMotor’s largest shareholders. Example customers and partners are Rolls Royce Marine, Kongsberg Maritime, Badger Explorer, Siemens Power Electronics and Wärtsila. For more information please visit www.smartmotor.no