Turntide Technologies
Turntide Technologies is a US-based business that makes intelligent, sustainable motor systems. Turntide applies its Technology for Sustainable Operations across buildings, agriculture, and transportation segments. It maintains operations in the USA, Canada, the United Kingdom, and India. History. Turntide was founded in 2013 as Software Motor Corporation (shortened to "SMC"), then changed its name to Software Motor Company in 2018. In July 2020, SMC rebranded to Turntide Technologies to better represent the company's solutions and ambitions. In 2016, SMC received a seed investment from National Science Foundation Small Business Innovation Research program, and a second investment  in 2017. Also in 2017, Turntide received investment from Wells Fargo's Innovation Incubator. Turntide entered the agriculture space in 2018 by partnering with VES, a dairy technology supplier, to launch DairyBOS, the Dairy Barn Operating System. Turntide acquired VES fully in October 2020. Turntide then acquired and merged VES with Canadian agricultural tech company Artex Barn Solutions to expand its offering into intelligent barn systems. Turntide won a 2020 Gold Edison Award and 2020 Product of the Year from "Environmental and Energy Leader". In September 2020, Amazon awarded Turntide an investment as part of its first round of five  Climate Pledge Fund investments. At that time, Turntide also announced investment from Future Shape, the fund led by Nest founder Tony Fadell. Then in March 2021, Turntide announced it had raised funds from Bill Gates' Breakthrough Energy Ventures, Robert Downey Jr.'s climate fund FootPrint Coalition, Fifth Wall Capital, and Keyframe Capital. It also announced that it had acquired building automation company Riptide. Fast Company also named Turntide one the World's Most Innovative Companies for 2021 in the Energy category. CEO Ryan Morris told CNN in April 2021 that the company would "soon announce a push into electric vehicles ." In June 2021, Turntide announced it had entered the EV space, with the acquisition of the Gateshead drivetrain division of BorgWarner and the battery company Hyperdrive, as well as the EV controls company AVID Technology. In June 2021, Turntide announced it had raised another $225 million, including from Canada Pension Plan Investment Board Technology. Turntide's core product is its Technology for Sustainable Operations, a cloud-based open platform that monitors and automates building and vehicle systems. The platform is powered by its Smart Motor System, a connected hardware-software machine built around a high rotor pole switched reluctance  motor. Southern California Edison utility certified in 2018 that the V01 Smart Motor System reduced energy consumption by 23%-57% compared with a standard AC induction motor, and 11% compared with an induction motor controlled by a variable frequency drive. In 2019, National Renewable Energy Laboratory certified that Turntide's motor reduced energy consumption in refrigerator condenser fans by 29%-71%. Turntide promotes its solution as a key ingredient for an eventual fossil fuel phase-out, since motors use about half the world's energy. CleanTechnica wrote: "Conventional analog motors are the energy efficient equivalent of the incandescent light bulb, only instead  of shedding loads of energy has heat they are constantly drawing electricity whether they need it or not. Turntide’s approach is based around the principles that govern switched reluctance motor technology, where the simplicity of the architecture translates into durability, efficiency, and power density advantages."