Infinitum and Alliance Resource Partners, L.P. Announce Agreement to Bring Highly Efficient, Reliable Motor Technology to the Mining Industry
16 Enero 2024 - 7:15AM
Business Wire
This new innovative motor system will create
lighter-weight, high performance mining equipment and help
electrify heavy industry.
Infinitum, creator of the sustainable air-core motor, and Matrix
Design Group, LLC (“Matrix”), a wholly owned subsidiary of Alliance
Resource Partners, L.P. (“ARLP”) and leading safety and
productivity technology provider for mining and industrial
applications, today announced an agreement to jointly develop and
distribute high-efficiency, reliable motors and advanced motor
controllers designed specifically for the mining industry.
Under the agreement, Matrix will integrate Infinitum’s smaller,
lighter motor technology into mining equipment of ARLP's operating
subsidiaries to provide performance validation in production
environments for the jointly developed products. In addition to
supporting installations at ARLP operations, Matrix plans to offer
the products to third-party mining customers around the globe.
Infinitum’s patented motor technology will replace traditional,
heavy iron-core motors with a motor system that is 50% smaller and
lighter, uses 66% less copper, and consumes 10% less energy, and is
expected to offer mining companies and equipment manufacturers a
more efficient, reliable alternative.
“Working with ARLP and Matrix expands Infinitum’s ability to
sustainably power heavy machinery with our lightweight, power-dense
motors that use less energy, material and waste,” said Ben Schuler,
founder and Chief Executive Officer, Infinitum. “We’re excited to
join forces with a mining leader like ARLP to make a greater impact
towards electrifying and decarbonizing heavy industry.”
Over the past 15 years, Matrix has become a leader in collision
avoidance and proximity detection technologies, providing safety
and productivity solutions for ARLP and many other mining
companies, while extending its reach beyond the U.S. and to other
industrial applications. This agreement builds upon that success
and enables the development of proven products that provide
technological advancements in support of rapidly expanding customer
needs.
Joseph W. Craft III, ARLP Chairman, President and Chief
Executive Officer commented, “This collaboration with Infinitum
represents a natural progression and extension of our strategic
investment in the company. We believe their groundbreaking motor
technology will bring much needed innovation to the mining industry
by delivering more efficient and higher performing production
equipment, which will enable companies such as ours to improve
mining processes, reduce operating costs, and boost
productivity.”
Infinitum, ARLP, and Matrix have collaborated since 2022, when
ARLP made an initial investment in Infinitum as part of the
company’s Series D funding.
About Infinitum
Infinitum has raised the bar for a new generation of motors that
is better for the planet and people. The company’s patented air
core motors offer superior performance in half the weight and size,
at a fraction of the carbon footprint of traditional motors, making
them pound for pound the most efficient in the world. Infinitum’s
electric motors open up sustainable design possibilities for the
machines we rely on to be smaller, lighter and quieter, improving
our quality of life while also saving energy and reducing waste.
Based in Austin, Texas, Infinitum is led by a team of industry
experts and pioneers. To learn more, visit goinfinitum.com.
About Alliance Resource Partners, L.P.
ARLP is a diversified energy company that is currently the
largest coal producer in the eastern United States, supplying
reliable, affordable energy domestically and internationally to
major utilities, metallurgical and industrial users. ARLP also
generates operating and royalty income from mineral interests it
owns in strategic coal and oil & gas producing regions in the
United States. In addition, ARLP is evolving and positioning itself
as a reliable energy partner for the future by pursuing
opportunities that support the advancement of energy and related
infrastructure. News, unit prices and additional information about
ARLP, including filings with the Securities and Exchange Commission
("SEC"), are available at www.arlp.com. For more information,
contact the investor relations department of ARLP at (918) 295-7673
or via e-mail at investorrelations@arlp.com.
About Matrix Design Group, LLC
A leading technology provider in the mining and industrial
sectors, Matrix is a wholly owned subsidiary of Alliance Resource
Partners, L.P. Since 2006, its core business has been mining safety
and providing operations-friendly applications that meet evolving
industry regulations. Today, it is developing customer-driven
suites of innovative, leading-edge products that balance product
advancement in its existing markets with expansion into new,
sustainable growth markets.
Headquartered in Newburgh, Indiana, the Matrix Team embraces the
concept of hard work, working smart, and collaborating on product
development with its customers and strategic partners. As
technology evolves, Matrix incorporates the latest innovations,
such as artificial intelligence, cloud management, and real-world
analytics into its next-generation products. The Matrix Quality
Management System (QMS) is certified as being in conformity with
ISO 9001:2015 by Intertek. For more information, please visit
MatrixTeam.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240116028889/en/
Infinitum Media Contact: Erin Gilmore Activate PR on
behalf of Infinitum egilmore@activateprmktg.com 512-466-4559
ARLP Investor Relations Contact: Cary P. Marshall Senior
Vice President and Chief Financial Officer 918-295-7673
investorrelations@arlp.com
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