Magment and the EIC Accelerator: Wireless Forklift Charging
Magment's pitch was that electric forklifts could charge while they drive, and so need smaller batteries and fewer spare vehicles. The company, founded in 2015 in Oberhaching near Munich, developed electromagnetic materials and charging pads built into the floor so that vehicles charge wirelessly by induction as they pass over them.
The European Innovation Council granted €2,482,484 towards a €3.55 million project, MagCharge, which built a demonstrator for forklifts reaching "up to 95% charging efficiency". No customer deployments were reported. On 11 February 2026 the Munich local court issued a decision on its assets in an insolvency case, proceedings were opened on 1 April 2026, and the company is now in liquidation, according to German register data compiled by North Data. Its website no longer loads.
Company file
- Legal entity
- Magment GmbH i. L., HRB 221925, Amtsgericht München
- Founded
- November 2015 as a UG; GmbH since 2019
- Business
- Electromagnetic materials, components and systems
- Technology
- Magnetisable concrete and inductive charging pads
- Target market
- Forklifts and other material handling vehicles
- Status
- Insolvency case 1508 IN 4113/25; opened 1 April 2026; in liquidation
- EIC project
- MagCharge, 1 Mar 2022 to 29 Feb 2024, closed
- EIC funding
- Grant first
What Happened to Magment
According to the register entries summarised by North Data, the Munich local court issued a decision concerning Magment's assets on 11 February 2026 in case 1508 IN 4113/25, published on 16 February. According to the investor-protection site Investmentcheck, the proceedings were formally opened on 1 April 2026, and in April 2026 the company was listed as in liquidation. We found no public statement from the company. Its website, magment.de, did not respond in September 2026.
The Technology: Charging Through the Floor
Inductive charging transfers power through a magnetic field between a coil in the ground and one in the vehicle. According to the CORDIS report, MagCharge built a demonstrator with two dynamic primary charging pads, high-frequency inverters with software, system controls and receiver coils for electric forklifts with 24-volt lithium-ion batteries. Magment argued that charging on the move would let operators use batteries a half to two-thirds smaller and about 25% fewer vehicles.
The claims
What Magment said wireless charging could achieve
Company-reported figures from the EIC project: peak charging efficiency, and the reduction in forklift fleet size and battery size it expected from charging on the move (battery reduction shown at the lower end of the one-half to two-thirds range).
CORDIS project 190173479 results.
"Development of an efficient and robust wireless inductive charging system for material handling electric vehicles."
MagCharge project title, CORDISWhat the EIC Project Promised, and What CORDIS Shows
The EIC project
The EU paid 70% of a €3.55M project
MagCharge ran from March 2022 to February 2024. The award was grant first.
CORDIS project 190173479. Values in € millions.
The project delivered a working demonstrator and efficiency data. The CORDIS report does not give the charging power, and names no pilot sites, forklift manufacturers or customers.
- A working charging systemDeliveredDemonstrator; up to 95% efficiency.
- Forklift manufacturer partnersNot shownNone named.
- Customer deploymentsMissedNone reported.
- A company that continuesMissedInsolvent, 2026.
What Has Happened Since the Award
The record
From magnetic concrete to insolvency
Magment built a wireless charging demonstrator for forklifts under the EIC project; two years after it ended, insolvency proceedings were opened.
- Nov 2015FoundedMagment UG, near Munich
- Aug 2019Becomes a GmbHCapital raised to €25,000
- Oct 2021EIC Accelerator cut-offMagCharge: wireless charging for material handling vehicles
- Mar 2022EIC project startsDynamic charging pads, inverters, receivers for forklifts€2.48M grant
- Feb 2024EIC project endsDemonstrator with up to 95% charging efficiency
- Feb 2026InsolvencyDecision on its assets by the Munich local courtInsolvent
- Apr 2026LiquidationProceedings opened 1 April; company listed as in liquidation
CORDIS and German register data via North Data.
The Money
The award was "grant first"; we found no EIC Fund investment. The register shows share capital raised to €34,938 by January 2024. A crowd investment offered from October to December 2023 raised €0.28 million from 255 investors against a €2 million target, according to Investmentcheck. Magment's investors and accounts were not accessible for this article.
What cannot be checked
Why Magment became insolvent, what creditors are owed, whether the technology or patents will be sold and whether any installation was ever sold are not public.
Why Europe Should Care
Warehouses and factories run forklift fleets, and charging them on the move would save batteries and vehicles if Magment's figures hold. The EIC paid for the demonstration. The step to a product that logistics operators buy did not happen before the company ran out of money.
What the project promised
An efficient, robust wireless charging system for material handling electric vehicles.
What the record shows
A demonstrator with good efficiency, no reported customers, insolvency and liquidation.
The Verdict
Demonstrated, no deployments reported
MagCharge showed the technology works in a demonstrator. It did not show that anyone would buy it, and two years after the project ended Magment was insolvent.
Magment is in liquidation and could not be asked for comment. This article is based on EU project data and German register information, linked throughout.
Industry
Mobility and transportElectric vehicle charging
- Focus
- Charging hardware
- Technologies
- Wireless power transfer
- Keywords
- Wireless charging
- Forklifts
- Intralogistics
- Dynamic charging
- Magnetisable concrete