Turin, 30 January 2024 - Tau Group, a leading technology company in energy transition and decarbonisation, is setting a new global standard for insulated wire for electric motors. Tau successfully closed an 11 million euro extension of its Series B financing round. CDP Venture Capital and Santander Alternative Investments (through the Santander InnoEnergy Climate Fund) led this round, with continued support from existing investors. This strategic financing aligns with the expansion of Tau's production capacity into a new facility, aimed at fulfilling recently concluded long-term supply agreements with automotive industry partners.

The Technology

Tau Group is taking a leadership position in the energy transition, focusing its efforts on the decarbonisation of energy and the electrification of transport. The company's patented technologies optimally balance sustainable, resource-efficient production with the performance required for effective electrification. The focus on low-carbon protective coatings for high-performance copper, aluminium and steel wires has made Tau Group a key player in promoting smaller, greener, longer-lasting and more powerful motors, transformers and generators.

"This 11 million euro investment represents a pivotal moment for Tau Group and reinforces our commitment to driving sustainable technology", said Francesco Taiariol, CEO and co-founder of Tau Group. "With the support of CDP Venture Capital and the Santander InnoEnergy Climate Fund, we are poised to accelerate the adoption of electric mobility, making a positive change in the global transport landscape."

 

CDP Venture Capital is participating in the operation through its corporate venture capital fund, Corporate Partner I, together with the IndustryTech and EnergyTech sub-funds. The investment by CDP Venture Capital was made in cooperation with the Piemonte Next regional co-investment fund, created and managed by CDP Venture Capital and supported by the Financial Institute of the Piedmont Region, Finpiemonte, with the goal of maximising investments in innovation for the region.

"The revolutionary technology patented by Tau Group promises to significantly improve conductor performance, giving it a competitive advantage in the industry and paving the way for more sustainable solutions in the field of electrical conductivity", commented Enrico Filì, Head of the IndustryTech sub-fund of CDP Venture Capital's Corporate Partners I fund. "The new financing will support Tau's production capacity through a new facility and new production lines aimed at meeting the growing demand of the international automotive industry. Tau is an ideal target for CDP's corporate venture capital fund, helping to build bridges between large industrial groups and new disruptive solutions."

 

The mission

The mission of Santander InnoEnergy Climate Fund is to accelerate the energy transition in various sectors, including mobility. This commitment, combined with the experience and network of the companies supporting the fund (Santander and InnoEnergy), makes it an ideal ally for Tau Group at this time.

As Tau Group continues to make progress in the sustainable production of magnet wire, the additional funding paves the way for an exciting chapter of growth and impact on a global scale. The funds raised in this extension will support Tau Group's growth trajectory, boosting its ability to achieve ambitious goals. This investment will play a crucial role in the expansion of production capacity, a key step in meeting the needs arising from Tau Group's long-term supply agreements in the automotive sector. The company remains committed to advancing sustainability, promoting innovation and contributing to the broader goals of the energy transition.