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SUNNYVALE, Calif., March 3, 2021 /PRNewswire/ — Turntide Technologies («Turntide»), the company responsible for the Smart Motor System™ and the Optimal Efficiency Motor™ with digital DNA, today announced the completion of an $80 million funding round, bringing the company’s total funding to date to $180 million. The round was led by Breakthrough Energy Ventures and includes investments from Robert Downey Jr.’s FootPrint Coalition Ventures, the Amazon Climate Pledge Fund, Keyframe Capital, Fifth Wall’s Climate Technology Fund and Captain Planet LP.

The electric motors powering our world today account for half of global electricity consumption – more than lighting, heating, and electronics combined. As our climate changes and economy grows, the global demand for electric motors will continue to rise. With this new funding, Turntide plans to expand development and production of its Smart Motor System to meet growing demand and extend it into new applications.

«Our investors recognize the critical role that technology will play in our fight against climate change. To curb the carbon emissions driving this crisis, we all need to change the way that we use energy. That starts with modernizing the technology that is currently powering our world,» said Turntide’s CEO and Chairman, Ryan Morris. «With the support from our investors, Turntide will increase production of our Smart Motor System and ramp up motor retrofitting to provide cost-effective and energy-efficient motors to businesses around the world.»

Turntide’s Smart Motor System is designed around its revolutionary switched reluctance motor (SRM) technology. SRMs have been used for decades in environments that demand 100% dependability. But recent advances in supporting technologies have permitted Turntide to develop a patented, cloud-connected SRM that can power anything, using a fraction of the energy of the legacy AC induction motors in 98% of the world’s machines.

Funding will also be used to accelerate deployment and advance development of Riptide, a cloud-based building automation software platform that Turntide recently agreed to acquire. Turntide plans to expand further into building automation by improving and extending the company’s Building Operation System («BOS») platform to office buildings, retail locations, schools, and more.

Last month at the World Economic Forum (Davos), Robert Downey Jr. announced the launch of FootPrint Coalition Ventures as a rolling fund on the AngelList platform, with a mission to accelerate groundbreaking sustainable technologies through both investment and a unique content strategy that aims to turn complex subjects into culture-defining content. «Turntide’s technology and approach to restoring our planet will directly reduce energy consumption,» said Steve Levin, co-founder of FootPrint Coalition Ventures. «We are interested in supporting companies with innovative and sustainability-focused ideas like Turntide’s Smart Motor System. This technology has the potential to improve the planet in a meaningful way, and we look forward to supporting their efforts.»

«Turntide’s Smart Motor System addresses a huge market with innovation that not only is higher efficiency, but also lower cost,» said Carmichael Roberts, Breakthrough Energy Ventures. «The applications for this type of solution are incredibly broad and impactful, and we’re proud to be working with the team at Turntide as they revolutionize the motor industry.»

«Amazon created The Climate Pledge Fund to support the development of technologies and services that will enable Amazon and other companies to reach the goals of the Paris Agreement 10 years early—achieving net-zero carbon by 2040,» said Kara Hurst, Vice President of Worldwide Sustainability at Amazon. «We are excited to be both an investor in and a customer of Turntide as they help us on the journey to decarbonize our operations.»

«There is no question that a high efficiency electric motor that does not use environmentally destructive rare earth minerals is needed,» said Sergey Polikarpov, Managing Partner of Captain Planet LP. «The prophecy of switched reluctance must be fulfilled to preserve the planet.»

Companies including Amazon, BMW, Five Guys, Sprouts, and JLL have retrofitted old motors with the Smart Motor System, reducing their HVAC motor energy consumption by 64% on average. Turntide also works with Pacific Energy Concepts, providing their Smart Motor System for HVAC solutions. 

«We partner with some of the best and brightest businesses in North America to help them reduce their environmental impact. Our partners trust that we’ll only bring them the very best energy-efficiency solutions to match their sustainability goals with their greater business objectives,» said Keith Scott, Founder and CEO of Pacific Energy Concepts. «When evaluating the Turntide Smart Motor System it was clear to us that it provides the most compelling HVAC optimization solution on the market, especially when compared to many legacy solutions currently available. We believe in the revolutionary capabilities of this solution that’s why we offer it to our partners.»

Previously announced investors in Turntide include Meson Capital, BMW i Ventures, JLL Spark, WIND Ventures, and Tony Fadell’s Future Shape.

Learn more about Turntide Technologies and the Smart Motor System at turntide.com.

About Turntide
Headquartered in Sunnyvale, California, Turntide makes the world’s most reliable, efficient, and intelligent motor system. Unlike most clean tech products, our switched reluctance motor technology is actually less expensive to own and operate than its conventional alternative. When this revolutionary motor is combined with IoT building automation technology, the result is optimal efficiency. Turntide sells motors in form factors for a number of applications, up to 15 HP. The Smart Motor System advances sustainability goals, saves money, and minimizes maintenance calls. For more information, visit https://turntide.com/ or follow the company on YouTube, Twitter, and LinkedIn.

MEDIA CONTACT
Simone Jackenthal – Trident DMG
202-923-5296 
sjackenthal@tridentdmg.com 

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SOURCE Turntide Technologies

ATLANTA, March 3, 2021 /PRNewswire/ — For patients battling deadly blood cancers like leukemia or lymphoma or life-threatening blood diseases like sickle cell disease or aplastic anemia, there is a cure. A blood stem cell transplant from a matching living donor can offer hope for patients battling these and 70 other deadly blood diseases.  Yet, only 30 percent of patients will find a matching donor in their family. The remaining 70 percent turn to the Be The Match Registry and its database of 22 million members who are willing to step up and save the life of a complete stranger.

Despite the large number of individuals on the registry, more than 10,000 patients each year will not find a matching donor. That’s the case for a 27-year-old mother from Macon, Georgia. Briana Stephens continues her decade-long search for a matching donor to help her beat aplastic anemia, a dangerous blood disorder.

Briana was diagnosed with aplastic anemia at age 10 and experiences extreme fatigue; receives frequent blood transfusions and platelet checks; attends weekly doctor’s visits; and receives weekly plasma donations. A blood stem cell transplant from a matching donor is the only cure for Briana’s condition. But after more than a decade of searching, she still has not found a match. She is among 400 other Georgians who are hoping Be The Match will find them a matching blood stem cell donor to cure them.

For patients like Briana, Be The Match has partnered with the Georgia General Assembly to designate Thursday, March 4, 2021, «Be The Match Day» to help raise awareness of the need for more donors on the Be The Match Registry. The campaign seeks to add 430 new donors to the Be The Match Registry – enough to save one life! That’s because approximately 1 in 430 members on the registry will go on to be a life-saving donor for a patient in need.

«So many people do not realize that their blood stem cells could hold the cure for a patient battling leukemia, sickle cell disease or many other deadly blood disorders,» said State Representative Gloria Frazier, who sponsored the Be The Match Day resolution. «There is no easier way to save a life – and it is so simple, just requiring a simple cheek swab to be added to the Be The Match Registry. You’re only called to donate if you are identified as a match for a patient. We are specifically asking diverse communities to join the registry, because ancestry matters in finding a match, and too many patients of color do not find matching donors to save their lives.»

A blood stem cell or bone marrow transplant can cure more than 70 different blood cancers or deadly blood disorders, including leukemia, lymphoma and sickle cell disease. Unfortunately, not all patients have the same likelihood of finding a matching donor. Black patients like Briana are least likely to find a match compared to patients of other races and ethnicities. Black or African American patients only have a 23 percent chance of finding a perfectly matched donor on the registry compared to a 46 percent chance for Hispanic patients and a 77 percent chance for white patients. Of the more than 22 million potential donors, only 4 percent are Black or African American and 7 percent are Hispanic.

«Race and ethnicity play an important factor in finding a matching donor because the DNA markers that we look to match are inherited, and you’re more likely to match someone who has a similar ancestry,» explained Erica Jensen, Senior Vice President of Member Enrollment, Engagement and Experience for Be The Match. «Be The Match is dedicated to providing all patients an equal chance at finding a match regardless of racial or ethnic background. We are grateful to the Georgia Assembly for supporting our efforts to increase the number of donors on the registry, which will help us save more patient lives in the future.»

«This past year, we have recognized the importance of health in our communities, and the impact that racial disparities have on outcomes for patients,» said State Senator Tonya Anderson, who is also the Georgia Legislative Black Caucus Chairwoman and sponsor of the resolution. «When it comes to the Be The Match Registry, each one of us can play an active role in being a part of the solution. With every person who swabs their cheek, we help the hundreds of Georgians searching for a donor, get one step closer to finding their cure.»

In 1987, the United State Congress authorized the establishment of a national registry of volunteer bone marrow donors, the National Marrow Donor Program, currently named Be The Match, which has facilitated more than 100,000 transplants to date, including 6,660 last year, of which 118 patients were from Georgia.

For 80 percent of donors, the process of donating blood stem cells is non-surgical and resembles a plasma donation; the remaining 20 percent have liquid marrow withdrawn while under anesthesia in an outpatient procedure. Unfortunately, the process of donating blood stem cells or bone marrow has been wrongly depicted in Hollywood movies, leading to fear of pain for would-be donors.

To learn more about the myths and facts of blood stem cell donation or to join the Be The Match Registry visit http://www.BeTheMatchATL.org or text GeorgiaSaves to 61474. There is no cost for donors between the ages of 18-44 years old to join the Be The Match Registry. A cheek swab kit will be mailed to the registrant’s home to complete the registration process and find out if they are a match for a searching patient.

About Be The Match^®
For people with life-threatening blood cancers—like leukemia and lymphoma—or other diseases, a cure exists. Be The Match connects patients with their donor match for a life-saving marrow or umbilical cord blood transplant. People can contribute to the cure as a member of the Be The Match Registry^®, financial contributor or volunteer. Be The Match provides patients and their families one-on-one support, education, and guidance before, during and after transplant.

Be The Match is operated by the National Marrow Donor Program^® (NMDP), a nonprofit organization that matches patients with donors, educates health care professionals and conducts research through its research program, CIBMTR^® (Center for International Blood and Marrow Transplant Research^®), so more lives can be saved. To learn more about the cure, visit BeTheMatch.org or call 1 (800) MARROW-2.

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SOURCE Be The Match