Mondragón Corporation, Fagor Ederlan and Cima Ventures: our new partners on the path towards electric mobility
The MONDRAGON corporation, through its promotion fund, along with the cooperative Fagor Ederlan and Cima Ventures,, has carried out this new investment operation as it was announced through its publication in TuLankide.
At EEVAM, we are delighted to announce that last December 2022 we closed the first round of investment and onboarded new financial and industrial partners to strengthen our new developments in the electric mobility..
On one hand, the MONDRAGON Corporation is a conglomerate of over 265 companies with international presence and an investment program in which this new corporate strategy operation is framed. This strategy aims to activate entrepreneurial capabilities and promote new businesses among cooperatives, by investing in young companies with growth potential, such as EEVAM.
Mondragon, whose business mission is to promote entrepreneurship, diversification, and the generation of new business activities, and whose vision is to position itself in future business models that foster competitiveness and socially impactful businesses within a framework of strong human dimension, has been investing for three years in both newly established and well-established companies, involving cooperatives in their capital.
On the other hand, Fagor Ederlan, as part of the automotive division of MONDRAGON, is a world-leading industrial cooperative in chassis and powertrain components for the automotive sector. Its involvement is focused on the strategy of generating knowledge and capabilities applicable to electric mobility, as well as seeking reference partners who can accompany the cooperative in the development of future new products demanded by the sector.
Cima Ventures is the venture capital division of Cima Corporate, an interim management consultancy with over 10 years of experience in the sector. Its mission is to drive and accelerate the growth of the most innovative technological startups, leading the digital transformation and technological revolution, providing them with access from day one to all their knowledge and experience in the areas of general management, economic and financial management, human resources and people development, and information systems management.
In 2022 and the following years, EEVAM's main focus has been on the development of Powermaster and R&D activities, with the aim of acquiring new knowledge to enhance the services we offer to our clients.
The financing round has been focused on reinforcing these same concepts and helping us to complete our journey towards the industrialization and commercialization of our first product for electric powertrain based on Powermaster technology..
Powermaster, scheduled to be launched in the first half of 2024, is a Smart Power Distribution System (SPDS) integrable into electric vehicles with modular battery architecture that optimizes the energy flow between systems, allowing for efficient energy distribution..
After conducting various studies evaluating the impact of modular battery architectures compared to a single fixed battery module with equal capacity, the R&D department of EEVAM has identified a market need that has been addressed with this new development.This technology addresses various disadvantages associated with modular battery architectures, such as reduced range, power limitations, or battery degradation due to high discharge currents.
Powermaster represents just one product in the entire EEVAM product portfolio.EEVAM’s team continuously works on this technology with the goal of powering the new generation of electric vehicles and offering new alternatives for sustainable mobility. Their efforts are focused on driving innovation and advancing the development of cutting-edge solutions in the field of electric mobility.
Read more about Powermaster on the following link: Powermaster: Smart Power Distribution System – EEVAM (eevamtechnologies.com).
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