If you’ve ever worked with generators, then you know that those machines can be quite large and heavy. An Israeli startup called Aquarius Engines develops a smart miniature sustainable combustion engine that can help scale the big machines down to size. Aquarius recently announced a $10 million funding round, led by TPR, a Japanese automotive parts manufacturer. To date, the Israeli startup has raised $37 million from Paz Oil, Marius Nacht, Honda Group’s Musashi Seimitsu, and others.
Standard engines weigh ten times more than Aquarius
In a conversation with Geektime, Chairman, CMO and co-founder Gal Fridman explains that the generator we’re all familiar with, sold pretty much as is today as it was 150 years ago, converts linear motion into energy by using dozens of moving pieces. “The Aquarius generator has only one moving part, as it converts fuel and linear motion into electricity. The Aquarius engine can burn gasoline, natural gas, and other types of fuel.”
Fridman adds that the company’s product can replace the standard motor. The engine weighs only 22 lbs, and due to its size and performance is far less of a polluter compared to standard engines today.
The engine is useful for a multitude of different industries such as antennas and communications, solar panels and connected grids, trucks, refrigerated trucks, electric and hybrid vehicles, yachts, drones, and more.
“TPR is proud of working with Aquarius Engines, which has advanced technology and has developed such a revolutionary engine. Through this agreement, TPR will develop engine parts for Aquarius and will work jointly on performance improvement of their free piston linear engine by sharing our experienced technology. TPR will also strive for developing engines with Aquarius' environmentally friendly power generators, and utilizing technologies for the development of next-generation fuel engine parts by collaborating with Aquarius,” said Masanobu Kishi, President & COO, TPR.
The company will use this latest investment to accelerate development and marketing activities, as part of the investment, the company also partners with Musashi Seimitsu - the Japanese multinational auto parts manufacturer, Canada’s Rig Master to supply power units for refrigerated trucks and also with Nokia Global to supply populated and rural areas that have power supply problems in Southeast Asia.
Furthermore, the investment announcement comes at an interesting time, just as the company has filed its prospectus to the Tel Aviv Stock Exchange, with the intent of going public in the upcoming weeks.
Why are you fundraising before the IPO?
Fridman explains that the “fundraising was more of a vote of confidence coming from a Japanese market giant that shares our technological development vision, leading eventually to a partnership with Aquarius.”
AQUARIUS ENGINES was founded in 2014 by Gal Fridman, CEO Ariel Gorfung, CTO and inventor Shaul Yaakobi. The company’s headquarter is based in Israel, with R&D centers in Germany and Poland.