This blog features Minnealloy Magnetics, a Student Division semifinalist! Watch a short introduction on them here and read more about them and our other 2016 semifinalists by browsing our blog and site.
Who are you and what do you do?
Minnealloy Magnetics, an advanced material company, will be a University of Minnesota spinoff. We will be manufacturing and selling a novel material for the application of transformers and inductors used in power converters. Power converters are essential parts of electronic devices and machines, such as electric vehicles, cellphone and laptop chargers, LED and LCD TVs, solar cells, wind turbines, motors and generators, and more.
What was the inspiration for your idea?
Due to the performance constraints imposed by the magnetic materials used in electronic devices and machines , we are bound to use large size heavy machines and devices with lower energy efficiency. The magnetic materials became a bottleneck for over 30 years and thus, this sector is looking for a new material to reduce the machine size without compromising efficiency and cost. And that’s what we want to provide. Our material will help to fabricate super efficient, smaller and lighter transformers and inductors for electronic devices and machines.
What opportunities or benefits have developed due to your involvement in MN Cup so far?
MN Cup is a wonderful opportunity for us to get advice from world’s best experts. We are very fortunate to have entrepreneurs like Riley Harlan of Symtec Inc., Bob French of 75F, Aaron Crumm of Adaptive Materials Inc. and Mark Theobald of General Motors as our mentors. Additionally, it is a great opportunity for us to rectify our business plan, and prepare ourselves for the bigger platform.