Electric mobility and advanced materials venture to accelerate product development and strengthen team
Turin/Berlin/Wesel, March 4, 2020 – Turin-based e-mobility and advanced materials venture Tau has secured a €4.5m series A equity investment by the corporate venture arm of ALTANA Group, the German specialty chemicals company.
The visit of Tau R&D site in Turin in July, 2019 “We are excited about welcoming ALTANA Group as an additional investor who shares our vision for the core of e-mobility by achieving the transition of wire coating towards a sustainable process and by delivering disruptive change in form of next generation technologies and high-performance materials”, says Dr Daniel Rutz, Chief Development Officer of Tau. Tau’s proprietary DryCycle® and LILIT® technologies meet the demands of electrical automotive engineering for ever smaller, lighter and yet more powerful and reliable electric motors. DryCycle technology offers higher performance, greater sustainability and stronger reliability in wire enamelling. By using only solvent-free polymers, DryCycle reduces the production of harmful VOC during the coating process and lowers carbon dioxide emissions. “We at Tau believe in bringing peace-of-mind to different stakeholders in electric mobility”, explains Francesco Taiariol, Tau’s CEO and co-founder. “To the rapidly changing electric vehicles producers, we bring the electrical, mechanical, thermal and chemical resistance that they demand. Think of high voltage, SiC powered, partial discharge and high filling factor for electric drive trains. To production process operators, we bring simplicity, flexibility in terms of rectangular, square or round geometries, state-of-the-art controls, the elimination of harmful substances and the reduction of scrap that they crave for. And to our children, we bring a minimized carbon footprint, a generally sustainable use of resources and an overall contribution to the change that we all think is necessary.” ALTANA’s division ELANTAS, a global market leader in the field of enamels, will help accelerate Tau’s product development and contribute their knowledge and experience in the synthesis and analysis of polymers used as electrical insulation materials. “Tau’s technological solutions are spot-on with the increasing demand by electric mobility for higher performance wire, and we are excited to work with them. The investment reflects our continuous desire to be at the forefront of innovation and to embrace change towards sustainability. Our collaboration with Tau will contribute to our ability to assist our customers’ transition to greener and more efficient processes”, says Volker Mansfeld, Head of Business Development of ALTANA AG. The series A financing builds upon Tau’s rapidly growing momentum with product development and with automotive and energy OEM & tier 1 suppliers. As part of the transaction, ALTANA AG invests up to €4.5 million for a minority stake and a board seat, and its division ELANTAS enters a joint development agreement with the venture.
Tau brings unparalleled performance, sustainability & reliability to the core of electric motors. Focused on applications for automotive, energy and agriculture, Tau makes protective coatings for copper, aluminium and steel wire more durable, resistant and light, optimizes underlying production processes for environmental friendliness, pairs artificial intelligence with peace-of-mind operating simplicity, and incubates exciting technologies such as in smart sensors. Tau has some 35 employees across offices in Turin (Italy) & Berlin (Germany).
ALTANA is a global leader in true specialty chemicals. The Group offers innovative, environmentally compatible solutions for coating manufacturers, paint & plastics processors, the printing & packaging industries, the cosmetics sector and the electrical & electronics industry. The product range includes additives, special coatings and adhesives, effect pigments, sealants and compounds, impregnating resins & varnishes, and testing and measuring instruments. ALTANA's four divisions, BYK, ECKART, ELANTAS, and ACTEGA, all occupy leading market positions with respect to quality, product solution expertise, innovation and service. Headquartered in Wesel, Germany, the ALTANA Group has about 6,400 people, 47 production facilities and 60 service and research laboratories worldwide. In 2018, ALTANA achieved sales of €2.3 billion, about 7 percent of which are invested in research and development every year. Its high earning power and high growth rate make ALTANA one of the most innovative, fastest growing, and profitable chemical companies in the world. www.altana.com