TDK Backs pH7 for Eco-Friendly Metal Extraction
TDK Ventures, the venture capital arm of TDK Corporation, has announced its investment in pH7 Technologies, a company specialising in sustainable metal extraction. TDK Ventures will co-lead the Series A funding round for pH7 Technologies.
pH7 has devised a distinctive chemical process that has the capability of revolutionising metal extraction from mining and recycling resources. Their approach is both sustainable and eco-friendly. With this closed-loop metal extraction process, they have the potential to bring about a significant change in the metal transition that is required to facilitate next-generation global electrification.
TDK Ventures has invested in this technology as part of their commitment to encouraging inventive solutions that can tackle the worldwide energy transition by bringing about a transformation in the metal supply chain.
The demand for essential metals and minerals, such as copper, platinum, cobalt, silicon, lanthanum, and neodymium, is crucial and widespread in the array of advanced technologies driving the clean energy transition.
The need for these essential materials is anticipated to surge in the coming years, with an estimated consumption increase of up to 500% for selected resources.
Predicted deficits already suggest a shortage with respect to market demand, which could reach as low as -17% for copper, -17% for platinum, and even -47% for neodymium by 2030.
Industries worldwide are exploring ways to address these shortfalls and minimise risk. However, the process of obtaining and extracting these metals and minerals often has adverse environmental effects, limited scalability, and is complicated by dynamic geopolitical issues due to an unequal global distribution.
pH7 Technologies has created a distinctive metal-extraction method that uses non-toxic organic and inorganic chemistry, combined with electrochemistry, to extract metals and vital minerals from ores, concentrates, and end-of-life materials.
This novel technique diminishes the environmental impact of mining and mineral processing and facilitates the efficient extraction of metals from low-grade resources or challenging substrates that are currently uneconomical or impracticable with conventional pyrometallurgy or hydrometallurgy approaches.
Nicolas Sauvage, President of TDK Ventures, expressed support for pH7 Technologies' goal to establish a more sustainable and efficient metal-extraction process. He stated that environmentally-friendly metal extraction is an enormous advantage for sustainability since the process has shown a net 95% reduction in CO2 emissions, a 95% increase in energy efficiency, zero toxic emissions, and almost no water consumption compared to current industry standards. TDK Ventures is committed to partnering with pH7 Technologies to advance their mission and promote sustainable practices in the metal industry.
Sarah Applebaum, a Partner with Pangaea Ventures, expressed her enthusiasm for pH7 Technologies' advancements in key metals extraction and refining. She highlighted that this innovation would facilitate the transition to renewable energy more sustainably. Pangaea Ventures shares pH7's commitment to creating a more habitable and sustainable planet for future generations and is thrilled to be part of this project.
Mohammad Doostmohammadi, CEO of pH7 Technologies, expressed his excitement about the support of their co-lead investors, TDK Ventures and Pangaea Ventures, as well as new investors, including Rhapsody Ventures, Collaborative Fund, FM Capital, and BASF Venture Capital.
He mentioned that these investors would work alongside their team to expand their sustainable metal extraction process. pH7 Technologies is dedicated to creating environmentally responsible solutions that tackle the challenges in the metal supply chain, and they believe their technology can expedite the global transition to a more sustainable energy future.
pH7 Technologies' chemical process is gaining momentum in the industry among OEMs, metal refiners, and suppliers due to its scalability, high yield, and faster-than-acid-based solution. The new metal extraction process provides a practical solution to an industry-wide issue while also offering a low-cost, environmentally conscious, and technically advanced solution.
TDK Ventures' investment in pH7 Technologies supports a more sustainable metal supply chain that can facilitate global energy transformation. This investment also demonstrates TDK Ventures' commitment to investing in technologies that can have a positive impact on the environment and society.