Flux Drive Raised $1.5M

Source:  Greg Lamm, TechFlashFlux Drive Inc. has raised $1.5 million from local investors, including the Northwest Energy Angels and the Alliance of Angels.  The Sumner company that launched in 2003 focuses on adjustable speed drives, which adjust the speed of electric motor-driven pumps and blowers, reducing energy costs for customers in the marine, aquatic and HVAC industries.  Flux Drive was among six technology startups were chosen as finalists by the MIT Enterprise Forum of the Northwest.  The company says it will use the funds to scale up manufacturing.  “We were impressed with Flux Drive’s innovation and the caliber of the engineering team who will be scaling this technology,” said Bill Oseran, lead investor with Northwest Energy Angels, said in a statement. “We believe Flux Drive has developed a real solution for significantly reducing energy loss in motors that will change how motors are tooled moving forward, ensuring we don’t have today’s levels of efficiency loss.”  Flux Drive’s customers include the Vancouver Aquarium and Columbus Zoo.  The company also recently won a $225,000 development contract with the U.S. Navy.