Local startup a magnet for innovation and jobs

Kite Magnetics is expanding its advanced manufacturing capabilities right here in Victoria, thanks to support from the Victorian Government.

The innovative startup will establish a state-of-the-art research and development (R&D) and advanced manufacturing facility in Melbourne’s southeast. This will create more than 140 highly skilled direct jobs and up to 550 indirect and induced jobs.

The facility will speed up production of the company’s cutting-edge magnetic materials. These support the development of ultra-efficient generators, transformers, and electric motors for aviation and other industries.

Building on Breakthrough Victoria’s support for Kite Magnetics back in 2022, The expansion will generate jobs across disciplines such as material science and automation engineering. This will deliver a significant economic impact of over $26 million in innovation expenditure over the coming years.

Kite Magnetics is the sole producer of Aeroperm® technology—an ultra-energy-efficient magnetic material that enables the creation of lighter, smaller and more efficient electric motors.

The new facility will allow Kite Magnetics to scale up sovereign manufacturing production of Aeroperm® to 50,000 tons per year by 2029.

Aeroperm® represents a transformative leap in global energy efficiency. It is capable of improving performance across the entire energy ecosystem—from power generation and transmission to end-use in motor-driven systems. These currently account for over 40 per cent of global energy consumption.

Victoria has set world-leading targets to achieve net zero emissions by 2045.  Backed by our Advanced Air Mobility Industry Vision Statement and Action Plan, we are developing industries (such as aviation and advanced manufacturing) to drive sustainable economic growth.