Company: Monumo
Founder: Dominic Vergine
Website: https://monumo.com/
About Monumo
Monumo is coupling deeptech innovation and machine learning (ML) with traditional engineering expertise to reinvent the electric motor. Driven by a desire to move the needle on decarbonisation, it has identified the electric vehicle (EV) market – an industry projected to reach $623bn in 2024 – as a crucial entry point for its technology. The shift to electric vehicles is plagued by issues including high costs and the use of rare earth magnets, which are environmentally damaging and notoriously difficult to recycle. However, Monumo is changing the game.
Founded by CEO Dominic Vergine in 2021, Monumo has bases in Cambridge and Coventry. As the former Head of Sustainability VP at Arm, and Founder of 2030Vision, which promotes technology’s role in the UN’s Sustainable Development Goals, Dominic founded Monumo with sustainability at its core. Monumo harnesses the expertise and knowledge of Cambridge ML talent and traditional engineering from Coventry. It has a skilled team of 28 across a range of disciplines such as automotive engineers, data scientists, physicists, deeptech experts, and entrepreneurs. Half the team have PhDs in physics, electronics, ML and computer science, and engineering. Across the team, there are eight different nationalities and languages spoken.
At present, a large part of EV innovation (as well as government policy) focuses on charging stations and batteries. Although these are important aspects, the EV market can’t be looked at in silos. Achieving net zero targets and increasing EV uptake requires optimising engineering and manufacturing of all parts as well as addressing recyclability. Monumo uses its proprietary technology to optimise motors. This optimisation includes the reduction of weight, cost, or increasing performance and efficiency; improving recyclability; achieving high efficiency across the drive cycle.
Monumo’s technology is its highly scalable, ML-friendly, Anser™ Engine. A scalable system is one that can handle large datasets and perform computations in both a time and cost-effective way. Anser™ can run up to 10 million simulations per day to identify the optimal parameters for specific motor use-cases. The innovations it has produced thus far have surpassed human ability, in electric motor design. As such, Monumo’s technology optimises motor design 200x faster than the industry average and delivers system level improvements. This optimisation includes improving sustainability, reducing cost, and creating efficiencies. Rare earth magnets are currently found in 80% of electric motors. They are environmentally damaging as they are notoriously difficult to recycle and get stuck in recycling machines. Monumo’s technology has the potential to design new motors without the need for permanent or rare earth magnets – making electric motors, and EVs, more environmentally and financially sustainable.
Currently, electric motors consume half of the world’s electricity. By optimising electric motors and forging a more sustainable future with its end-to-end solution, Monumo-designed motors will dramatically reduce this and create a pathway to sustainability and speed up the journey to decarbonisation.
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