The high and extraordinarily rapid recent rise in the price of rare earth magnets, along with their increasingly uncertain supply, has resulted in understandable reluctance of OEMs to apply conventional permanent magnet technology, which commonly rely on such material.
NovaTorque is NOT susceptible to these high costs and supply vagaries. Its unique and patented, flux-focusing, conical air gap rotor and stator geometry allows NovaTorque to achieve rare-earth magnet-like performance with low-cost, readily available, ceramic ferrite magnets.
The chart below illustrates the dramatic difference in magnet pricing.
Applicability of Rare Earth Magnets
While NovaTorque benefits from its ability to produce efficiency and torque performance with ferrite magnets that is equal or better than that produced by conventional rare earth based permanent magnet motors, the advantages of the NovaTorque design is not limited to ferrite magnets. Further performance improvements are achievable by applying rare earth magnets to the NovaTorque motor geometry.
In today's market, due to the extraordinary high costs and scarce availability of rare earth materials, the incremental improvement in performance cannot be economically justified for all but the most demanding of applications. In the future, however, if rare earth material supply were to increase dramatically and prices decline accordingly, rare earth magnets can be incorporated in NovaTorque's product offering, producing yet another advancement in motor performance.