Is There a New, More Efficient Electric Motor?

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Fisherman199
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TL;DR
Robert Downey Jr., Bill Gates, et al have backed a startup to produce more efficient electric motor
Electric Motor Start-Up

I have done little research into this so far but my "Law of Thermodynamics" alarm is blaring loud-and-clear. Has anyone here heard of this "new motor?" Has anyone tested one in the field?