TDK Corporation announced that subsidiary TDK Ventures Inc, its corporate venture-capital arm, is investing in sustainable metal extraction innovator pH7 Technologies and co-leading their Series A financing round. The unique chemical process developed by pH7 has the potential to change the metal extraction from mining and recycling resources through their sustainable and environmentally friendly approach. This closed-loop metal extraction process could potentially empower the metal transition necessary to usher in next generation global electrification. This investment reflects TDK Ventures’ commitment to supporting innovative solutions that can help address the global energy transformation by transforming the metal supply chain.
The demand for key metals and minerals – ranging from copper, platinum, and cobalt, to silicon, lanthanum, and neodymium, among others – are critical and often pervasive across the suite of modern technologies driving ever accelerating clean energy transition. Demands for these key materials are projected to skyrocket in upcoming years. There is an expected increase of as much as 500% in consumption across selected materials. Projected deficits already indicate a shortfall, with respect to market demand, expected to reach as low as -17% (copper),-17% (platinum), and even -47% (neodymium) by 2030. Global industries are seeking ways to address these shortfalls and mitigate risk.
pH7 Technologies developed a proprietary metal-extraction process utilizing non-toxic organic and inorganic chemistry, as well as electrochemistry to drive extraction of metals and key minerals from ores, concentrates and end-of-life materials. This innovative approach reduces the environmental impact of the mining and mineral processes and enables efficient metal extraction from low-grade resources or difficult substrates which are uneconomical or infeasible by current pyrometallurgy or hydrometallurgy approaches.
“TDK Ventures will support pH7 Technologies in their mission to create a more sustainable and efficient metal-extraction process,” said Nicolas Sauvage, President of TDK Ventures. “Environmentally-friendly metal extraction is a huge win for sustainability, as the process has demonstrated a net 95% reduction in CO2 emission, 95% increase in energy efficiency, absolutely no toxic emissions, and near-zero water consumption compared against current industry standards.”
SOURCE: PR Newswire