SOUTH African Start Up business Magnevane scooped the Global Unicorn top honours recently for the business with the highest investment potential.
Magnevane has commercialised intellectual property that has the potential to disrupt the pneumatics sector , which is a R1.3 Trillian global market using over 10% of all industrial electricity. Johannesburg is Magnevane’s African hub and the Magnevane team there, led by Magnevane Africa CEO Rees, is exploring opportunities to license Magnevane technology to local partners covering manufacturing, distribution and equipment servicing with a particular focus on BEEE partners as they develop and grow their businesses and look for competitive advantage in the industrial sector.
“Karim Premji, a Canadian investor, was inspired by the impact that the Magnevane technology could have on the world and provided the seed funding to register provisional patents, develop working prototypes and to secure Deloitte as a global commercialisation partner.
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