How Kite Magnetics Is Powering the Next Generation of Electric Motors
Electric motors are everywhere, powering EVs, factories, renewable energy systems and the technologies driving the decarbonisation economy. But there’s a catch: the materials inside many of them have remained largely unchanged for decades.
Pictured: Electric Motor Stator Core Components
Kite Magnetics
That's the problem Melbourne advanced materials startup Kite Magnetics is tackling.
The Monash University spinout, founded in 2021 has developed a patented motor core material called Aeroperm™, designed to replace conventional electrical steel in electric motor stators - the stationary components through which energy flows from or to the rotor. The promise is simple but potentially significant: make motors more efficient without forcing manufacturers to redesign entire systems.
“Electric motors are one of the most important technologies in the electrification economy, with electric motor-driven systems accounting for around half of global electricity consumption, but the materials inside our motors have not fundamentally improved in decades. Aeroperm gives motor manufacturers a practical way to reduce losses and improve efficiency without having to completely redesign existing motor platforms.”
–Kite Magnetics Co-Founder & CEO, Richard Parsons.
The right support at the right time
Kite Magnetics is a great example of how the right support at the right time can help a breakthrough idea become a globally competitive business. It’s also a great example of a startup that received early support from both Breakthrough Victoria and LaunchVic – now Innovation Victoria.
Early backing from Breakthrough Victoria in their 2022 seed round helped bridge the gap between promising research and commercial opportunity, with a follow-on investment in 2025 supporting the company's transition from research and development into pilot production and customer validation.
As the business grew, Kite's founders faced a challenge familiar to many innovation-led companies, scaling the organisation behind the technology. Through LaunchVic's Basecamp program, they accessed support designed to strengthen leadership capability, organisational maturity and readiness for growth.
Together, these touchpoints helped Kite navigate the often-cited "valley of death" between research and commercial success. That momentum has since unlocked further investment, including Victorian Government funding for a state-of-the-art advanced manufacturing facility in Melbourne's southeast and, more recently, a $2 million grant through the Australian Government's Industry Growth Program. The funding will help advance Aeroperm™, strengthen pilot manufacturing capability, generate automotive-grade validation data and deliver customer-ready prototypes to global customers.
Today, Kite Magnetics is supplying material samples and paid prototypes to more than 20 organisations worldwide. Aeroperm™ is driving down EV costs and extending the range of electric aircraft. Its journey highlights why Innovation Victoria exists, to help founders move from breakthrough research to commercial success by connecting them with the capital, capability and support they need at each stage of growth.