Kite Magnetics expects to create “more than 140 highly skilled jobs” at upcoming factory

Electric motor startup Kite Magnetics will open a new factory in Melbourne’s southeast, the state government has said.

According to a statement from the Victorian government on Friday, the upcoming factory is expected to create “more than 140 highly skilled jobs and up to 550 indirect jobs” and increase production of Kite Magnetics’ Aeroperm to 50,000 tons per year by 2029.

Aeroperm is the company’s novel nanocrystalline magnetic core material for its motors and generators, and was developed at Monash University by Kite Magnetics co-founder Dr Richard Parsons (pictured) and Professor Kiyonori Suzuki. It has a claimed “ten times lower energy loss” compared to existing core alloys.

The initial focus for the material was electric aviation. It opened a Green Aviation Test Facility in September 2023.

“Aeroperm is accelerating electrification with smaller, lighter, and more efficient motors-driving down EV costs and extending the range of electric aircraft,” said Parsons. 

“Developed in Victoria, this breakthrough is set to transform industries worldwide.”

The statement mentioned that the government “is backing” Kite, but the nature and level of the support was not specified. It did not disclose an expected opening date for the factory.

Breakthrough Victoria, a venture fund allocated approximately $2 billion by the state government, was a backer in Kite’s seed round in October 2022.

“Kite Magnetics is innovation at its best – they are producing a brand new technology that will shape the automotive, transport and mining industries into the future, while backing quality jobs right here in Victoria,” said state economic growth minister Danny Pearson.

Picture: credit Kite Magnetics

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