One of the lasting inventions that has not only survived the test of time but is also still a vital part of modern life is the electric motor.
We take it for granted, but we use it every single day, whether it’s in common household appliances like the washer and dryer or in the heaters and A/C units that are found in our automobiles.
In fact, the electric motor is so ubiquitous that you probably don’t realize how often you benefit from it. It’s like the air you breathe — it’s just always there.
Here’s just a sampling of the industries that rely on the electric motor for their very existence:
In fact, I just finished building a 20 x 16 greenhouse on my farm in Upstate New York.
The power tools I used to build it and the heaters and fans in it that maintain the proper temperature for the vegetables to grow all use electric motors.
Simply put, no electric motors equals no modern society. It would throw us back centuries to the time when fire, horses, and hard human labor were the power sources to get things done.
That’s why, when my colleague Alex Koyfman told me about a new motor being developed that not only puts out more power with less energy but is also a darling of the renewable energy industry, I had to learn more about it.
You see, since British scientist Michael Faraday invented the first electric motor back in the 19th century, electric motors have had a weakness built into them.
Incredibly, that weakness has never been addressed. Amazing, considering how huge the electric motor market is.
Did you know that a full half of all the energy produced globally is consumed by electric motors?
That’s over $3 trillion worth of electricity, or 5% of the total global economy, spent on a simple process where current running through a magnetic field is transformed into rotational force.
Electric motors come in all shapes and sizes. They range from some of the smallest machines ever built to giant engines capable of propelling a ship 10 times as massive as the Titanic.
That’s an incredible amount of energy, worth more than the entire gross domestic product (GDP) of the UK, all committed to the same exact process.
Shocking, right? Well, that’s how important electric motors are to us. They’re everywhere. They make everything work. And they’ve been doing it for almost 200 years.
Now, you’d think that after two centuries of nonstop development, there would have been a number of major technical innovations.
But here’s the surprising truth: Electric motors haven’t seen a single fundamental evolution since their very advent.
The electric motor has been made bigger. It’s been made of different materials. It’s been standardized and perfected with modern manufacturing processes.
But in all those 200 years, nobody’s made any real changes to the basic motor.
The electric motor today is what it was when horses were mankind’s main mode of transportation: a single copper wire wound around a spool within a cylinder that contains magnets.
And that means even the high-tech motors Elon Musk puts into every Tesla vehicle to hit the road are nothing more than antiques dressed up with modern finishes.
Well, all that is about to change.
If the size of the electric motor market or the fact that it hasn’t been changed since long before the gas engine was even invented shocks you, get ready to be shocked again…
Because the company that’s already marketing a new, more efficient electric motor design isn’t some industrial giant like General Electric (NYSE: GE), a carmaker like Ford (NYSE: F), or even some tech-crazed dot-com empire like Google (NASDAQ: GOOG)…
This innovator, which now controls patents to the first true evolution of the electric motor, is a true-to-life technology startup with a total market capitalization of less than $20 million.