Turin-based e-mobility and advanced materials venture Tau has secured an investment of a consortium of two leading Middle Eastern sovereign wealth funds, the Russian Direct Investment Fund (RDIF) and a German investment manager to top up its ongoing series A

equity investment round to a total of EUR 6.75m. This round’s initial investment was made by the corporate venturing arm of German specialty chemicals company Altana AG. The funds will be used to speed up new product development, widen the product range of high-performance wires and to scale up industrial production to deliver to global producers of electric cars, buses, trucks, aircraft and ship vessels from early 2022 onwards.

Tau’s DryCycle technology sets a new, sustainable standard of wire coating. The strict use of solvent-free polymers eliminates the emission of harmful VOC and greenhouse gases. A significantly simplified production process minimizes the use of resources, reducing energy consumption and waste. Tau’s LILIT technology provides the essential inline quality control to assure reliability of polymer insulation in magnet wire and electrical steel.

The series A financing corroborates Tau’s rapidly growing momentum with motor developers and product development. As part of the transaction, the new investors take an additional board seat for a minority stake.