Kite Magnetics develops Aeroperm®, an ultra-low-loss nanocrystalline stator core material for electric motors and generators that directly replaces conventional silicon steel. The company supplies stator cores to automotive powertrain teams and for advanced electric propulsion systems including UAVs. It is a 2021 spinout from Monash University founded by Dr. Richard Parsons and headquartered in Clayton, Victoria, Australia.