A homegrown startup driving next-gen magnetic technology

Thanks to patented technology created at Carnegie Mellon and the National Energy Technology Laboratory (NETL), the next breakthrough in cleantech could happen in Pittsburgh, courtesy of CorePower Magnetics. The startup is driving the development of next-gen magnetic components and electric motor technologies that can help EVs go farther, charge faster, and reduce energy needs for growing sectors like data centers.  

In 2021, an intellectual property agreement was signed between all three entities. Kernion, a materials science and engineering Ph.D. alumnus, was named company CEO. It was a fitting choice since Kernion was one of the creators of the strain annealing technology that laid the foundation for CorePower’s mission to support electric vehicles (EVs) and the power grid. 

“Working at a startup is a very refreshing process — you’re surrounded by people who are at the company because they feel passionate about its mission, and they’re excited about what it can mean for the region,” said CEO Sam Kernion. 

Though Kernion worked in industry for several years immediately following graduate school, his entrepreneurial roots began in Mike McHenry’s nanocrystalline alloys research group at CMU. During his studies, Kernion met Paul Ohodnicki, a recent CMU graduate from McHenry’s group who was now collaborating with CMU while working at NETL. Ohodnicki is CorePower’s co-founder and chief technology officer. Before his retirement, McHenry was also a company co-founder alongside Leah Ohodnicki and Kevin Byerly.

Kernion describes developing the initial strain annealing technology as putting a novel metal tape into a furnace and pulling on it with a specific amount of force, which at first was accomplished with a simple pulley and weights.The combination of the material chemistry and process changed how the crystalline grains grew and the way the material magnetized, which made it better at filtering out unwanted electrical signals when incorporated into an inductor. From that point, Ohodnicki and Byerly figured out how to take it from the lab bench to a viable manufacturing process while at NETL and in collaboration with McHenry at CMU.

During a visit to CMU’s Scott Institute for Energy Innovation last month, one of the guiding questions that Kernion presented to a group of entrepreneurial-minded students was: “A company needs to provide value — what problem are you solving?” 

The answer wasn’t immediately clear when Kernion completed graduate school in 2012. Kernion and Ohodnicki knew the strain annealing technology had produced promising results, but its applications largely didn’t exist yet. By the time the technology was patented in 2019, EVs and their charging needs formed a bigger part of the decarbonization conversation. The timing was right for CorePower to officially launch the following year. 

“By 2019, Paul recognized there was value in the patent because EV charging and renewables were at a point where there was a stronger commercial need for the products,” said Kernion. 

This plays into one of the other principles that Kernion emphasized: “The greatest breakthroughs happen at the intersection of what you know and what the world needs.” 

To grow its capabilities, CorePower is currently raising Series A funding — the first round of external financing for startups after seed funding. The company has already received considerable support from the Department of Energy (DOE), including $20 million to develop a manufacturing facility in Pittsburgh for magnetic components and advanced metals that are currently produced by foreign supply chains. Another $1 million from the DOE is earmarked for rare earth-free electric motor development — rare earth elements are mostly sourced from China. Both DOE projects serve the goal of increasing domestic manufacturing of transformers, inductors, and electric motors. 

CorePower Magnetics was one of the companies who participated in the Startup Pitch Showcase at the Scott Institute’s Energy Week 2024 (watch the video of that presentation here). Kernion noted that spinning a startup out of an academic setting has been a difference maker in how the company has expanded its network. 

“I think a unique aspect about startups in general is that you think you’re going to be isolated, but there’s a tremendous network — and CMU has been a tremendous partner for us,” Kernion said during his visit to campus.