TDK Company's subsidiary, TDK Ventures, has recently announced the launch of a substantial $150 million fund aimed at investing in energy and climate technology startups. This new fund, aptly named Fund EX1, signifies TDK's commitment to driving energy transformation. Initially focusing on companies in the United States, Fund EX1 also marks TDK Ventures' first venture into the European market.
Amperex Technology Limited, a Hong Kong-based specialist in lithium-ion rechargeable batteries, will serve as a limited partner for Fund EX1, further bolstering the fund's resources and expertise.
TDK Ventures has previously demonstrated its interest in the climate technology sector through investments in various companies. These include Ascend Elements, a battery-upcycling firm, Span.io, a smart electrical-panel company, GenCell, an off-grid backup power-solutions provider, and Verdagy, a green hydrogen company, among others.
Noboru Saito, the president and CEO of TDK Corporation, expressed his enthusiasm for the new funding initiative, emphasizing the company's unwavering dedication to driving innovations in electrification and decarbonization. Recognizing the significance of these areas in tackling society's most pressing challenges, TDK Corporation aims to make a meaningful contribution through its investments and support for groundbreaking advancements in these fields.
