TDK Corporation subsidiary TDK Ventures Inc. will launch its third fund, totaling $150 million in new capital.
The new fund will target early-stage investments in energy transition, electrification, and decarbonization within the U.S. and Europe.
Amperex Technology Limited (ATL), TDK’s Hong Kong-based lithium-ion rechargeable batteries specialist, will be a limited partner to Fund EX1, according to a news release.
TDK Ventures’ total assets under management is now $350m.
“As the world strives to build a sustainable future for all, we must recognize the pivotal role that energy transformation needs play in our collective efforts,” stated Noboru Saito, president and CEO of TDK Corporation. “With this new funding, we are doubling down on our efforts to contribute toward innovations in electrification and decarbonization, as these two areas are helping to solve society’s toughest problems. By nurturing the innovative spirit of startups around the world and by providing TDK Goodness to the ecosystem, we hope to contribute to a world where energy transformation drives humanity toward a brighter, more sustainable tomorrow in harmony with our environment.”
“Fund EX1 bolsters our conviction in supporting entrepreneurs who are creating pioneering technologies in the energy transformation and decarbonization sectors,” said Nicolas Sauvage, president, TDK Ventures. “Foundational improvements in materials science, advanced manufacturing, and scale-up are the key to translate innovations developed in academic laboratories towards commercial reality. Our commitment to early-stage innovative startups in climate tech is poised to help accelerate our world toward carbon neutrality.”
“We strive to be a premier global innovative technology company, making exceptional contributions to the green energy resolution for mankind,” said Joe Kit Chu Lam, executive vice president, Amperex Technology Limited. “ATL is pleased to join Fund EX1 in its mission to support a greener energy transformation and contribute our part to decarbonization by supporting innovative ecosystems and startups around energy generation and energy storage.”
Since its inception, the company has made ten investments in the sector, backing companies such as Wheels, acquired by Helbiz, Inc.; electric vertical take-off and landing vehicle (eVTOL) company Autoflight; battery-upcycling company Ascend Elements; smart electrical-panel company Span.io; off-grid back-up power-solutions company GenCell, which IPO’d on the Tel Aviv Stock Exchange; water-sensing analytics company Divirod; green-hydrogen company Verdagy; lithium-ion dry-electrode company AM Batteries; designer and implementer of methodologies for sustainable extraction and refining of strategic metals company pH7 Technologies Inc.; and developer of an optimized stellarator fusion-energy system, Type One Energy.
“The expertise of our anchor LPs in electrochemical technologies, advanced manufacturing, and scale-up will allow us to bring to these startups strong technical expertise and access to global markets where TDK operates,” added Sauvage.
