Magnax develops and manufactures next-generation electric motors based on axial flux technology. The motors and related powertrains provide a step change in efficiency, size, reliability, manufacturing resource requirement, and cost-effectiveness. The technology delivers the highest power densities (over 15-kW/kg), up to 20% more efficiency at competitive cost for OEM. Founded by Daan Moreels, Kester Goh, and Peter Leijnen in 2015, Magnax is backed by investors that include Hirschvogel Ventures, Vlerick Group, and Jochen Boeykens and is headquartered in Kortrijk.