MagnaDrive Corporation was founded in 1999 in Bellevue, Washington. MagnaDrive's patented technology uses high power Neodymium-Iron-Boron permanent magnets to create an induced electromotive force used for torque transfer. The system physically separates the two elements of the motor system, placing magnet discs on the load shaft and a conductor assembly on the motor shaft. Motor torque is transferred to the load across an air gap. Varying the air gap between the magnets and conductor changes the strength of the magnetic field and hence controls output speed. A portfolio of 20 domestic and more than 200 foreign patents protects MagnaDrive's technology. Some of the features and benefits of this technology include: MagnaDrive's revolutionary disconnected torque-transfer technology reduces your total cost of ownership by lowering maintenance and operating costs, increasing process availability, and improving system reliability. This technology is demonstrating substantially reduced energy requirements associated with the operation of a vast base of motors that drive pumps, fans, blowers and other processing and manufacturing equipment used in industry. MagnaDrive developed two product lines that offer industry the benefits associated with a "disconnected connection."​ The MagnaDrive Adjustable Speed Drive (ASD) is designed for variable speed applications while the MagnaDrive Coupling line is designed for constant torque applications. The benefits of MagnaDrive's technology are evidenced by the company's close relationship with the US government. Early funding for MagnaDrive was supplied by a grant from the US Department of Energy (DOE). Also, DOE testing demonstrated that MagnaDrive's products reduce energy usage by up to 70%. The DOE operates several MagnaDrive units in mission critical applications at nuclear facilities. The US Navy and US Air Force also utilize MagnaDrive technology.