SAN JOSE, Calif. - TDK (OTC:TTDKY) Corporation (TSE: 6762) has announced its subsidiary TDK Ventures' involvement in INERATEC's Series B financing round, contributing to the $129M raised to enhance the production and commercialization of carbon-neutral e-fuels. This marks TDK Ventures' inaugural investment from its energy-focused Fund EX1.
INERATEC, a German company, specializes in patented microstructured reactor technology that facilitates the production of synthetic fuels, or 'drop-in' e-fuels, by recycling CO2 with renewable energy sources. These e-fuels are designed for use in sectors heavily reliant on fossil fuels, including aviation, maritime, and road transportation, as well as the chemical industry.
The recent funding will support INERATEC in starting mass production of its Power-to-X plants on a global scale. The company aims to significantly boost its output, with a projected 1,500-fold increase in production capacity, potentially recycling over 12 million metric tons of CO2 annually.
TDK Ventures President Nicolas Sauvage expressed confidence in INERATEC's technology, stating its suitability for the vast applications within industries that are challenging to decarbonize. The demand for e-fuels is anticipated to see substantial growth, with projections estimating a market worth of $13.6T by 2050.
INERATEC's CEO, Tim Boeltken, expressed gratitude for the investment, highlighting TDK Ventures' commitment to scaling sustainable and hard-tech projects. The company is already in the process of constructing its largest plant to date in Frankfurt and is expanding its reach with international projects in the Netherlands and Chile.
As part of TDK's broader commitment to innovation and societal transformation, Fund EX1 was launched in 2023 with a focus on early-stage companies leading the energy transition within the U.S. and Europe. TDK Corporation, known for its electronic solutions and material sciences expertise, supports various markets, including automotive, industrial electronics, and ICT.
Information in this article is based on a press release statement.
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