TDK Ventures invests in Singapore-based startup Amperesand to empower global electrification through solid state transformers

• Amperesand's grid infrastructure solutions are powered by innovative solid-state transformer (SST) technology to enable efficient, intelligent, and resilient electrification
• TDK Ventures invested in Amperesand because of their groundbreaking and market-ready SST technology -  solving key challenges in the EV DC fast-charging sector, providing a critically needed solution for accelerating EV adoption and future-proofing of electric grid infrastructure

SAN JOSE, Calif., Feb. 7, 2024 /PRNewswire/ -- TDK Corporation (TSE: 6762) announced today that subsidiary TDK Ventures Inc. is investing in Amperesand and their grid infrastructure solutions powered by innovative solid-state transformer (SST) technology to deliver megawatt-scale DC charging solutions for the EV revolution. Spun out of the Nanyang Technological University of Singapore (NTU) and backed by a world-class team with decades of industry experience in power systems, Amperesand delivers critical improvements to EV charging infrastructure hardware that will support rapidly expanding electrification across fleets, consumer vehicles, ports, and beyond.

Transformers are pivotal in the power distribution infrastructure, essential for global electrification, and particularly critical in the EV sector to ensure the correct form of power is delivered at the right location. With growing demands for electrification, the predominantly alternative current (AC) grid faces challenges such as greatly increased direct current (DC) loads, aging infrastructure, transformer shortages, and increased project costs (due to labor, materials, permitting, etc.). Such issues represent an urgent technical challenge to continued progress as grid infrastructure must keep pace with rapid growth in electricity demand from EV fast charging in the near term, and industry and homes in the long term. Amperesand's technology is a game-changer, addressing critical pain points in the electrification landscape. Their containerized SSTs directly connect to the distribution grid with a customizable mixed AC/DC output, bidirectional power flow, very small footprint, enhanced flexibility, and improved reliability, revolutionizing how high-capacity DC loads, such as EV charging stations, connect to the grid. This technology not only meets the current demands but is also adaptable to the future needs of a highly variable and distributed grid, setting a new standard in the field of power distribution.

"We are thrilled to partner with Amperesand, a company tackling a critical issue that threatens the entirety of global electrification," said Nicolas Sauvage, President of TDK Ventures. "Their solid-state transformer technology has the potential to shore up power infrastructure to handle the already present EV future and do so in an efficient, reliable, sustainable way. Amperesand's combination of product versatility, market focus, and potential for long-term revenue growth through grid services and bidirectional charging makes them an ideal investment choice."

TDK Ventures is investing in Amperesand with an aligned vision of ushering in a positive and sustainable energy transformation worldwide, and in doing so, supporting the best and brightest innovations in electrification tech. Their initial focus on EV DC fast charging is a key backbone enabler for multi-sector EV technology adoption and addresses key logistic and economic challenges that would otherwise plague development.

"We are excited about the investment and support from TDK Ventures," said Anshuman Tripathi, PhD, Co-Founder of Amperesand. "Their belief in our solution and vision for electrification is a significant validation of our efforts. With TDK Ventures alongside us, we are confident in bringing our infrastructure solutions to the forefront of the electrification revolution, starting with the megawatt-scale EV DC fast-charging market."

TDK Ventures invests globally in early-stage startups that leverage fundamental materials science to unlock an attractive and sustainable future for the planet. Their goal is to impact the scale of every startup it invests in to achieve its full potential and accelerate a positive future for the world. As an active investor in materials science startups since 2020, TDK Ventures has already seen its portfolio make major contributions at scale; three companies backed by the firm have already gone public or been acquired.

To learn more about TDK Ventures, interested startups or investment partners should visit www.tdk-ventures.com or reach out at contact@tdk-ventures.com.

About TDK Corporation
TDK Corporation is a world leader in electronic solutions for the smart society based in Tokyo, Japan. Built on a foundation of material sciences mastery, TDK welcomes societal transformation by resolutely remaining at the forefront of technological evolution and deliberately "Attracting Tomorrow." It was established in 1935 to commercialize ferrite, a key material in electronic and magnetic products. TDK's comprehensive, innovation-driven portfolio features passive components such as ceramic, aluminum electrolytic and film capacitors, as well as magnetics, high-frequency, and piezo and protection devices. The product spectrum also includes sensors and sensor systems such as temperature and pressure, magnetic, and MEMS sensors. In addition, TDK provides power supplies and energy devices, magnetic heads and more. These products are marketed under the product brands TDK, EPCOS, InvenSense, Micronas, Tronics and TDK-Lambda. TDK focuses on demanding markets in automotive, industrial and consumer electronics, and information and communication technology. The company has a network of design and manufacturing locations and sales offices in Asia, Europe, and in North and South America. In fiscal 2023, TDK posted total sales of USD 16.1 billion and employed about 103,000 people worldwide.

About TDK Ventures
TDK Ventures Inc. invests in startups to bolster innovation in materials science, energy/power and related areas typically underrepresented in venture capital portfolios. Established in 2019 as a wholly-owned subsidiary of TDK Corporation, the corporate venture company's vision is to propel the digital and energy transformations of segments such as next-generation transportation, robotics and industrial, mixed reality and the wider IoT/IIoT markets. TDK Ventures will co-invest and support promising portfolio companies by providing technical expertise and access to global markets where TDK operates. Interested startups or investment partners may contact TDK Ventures: www.tdk-ventures.com or contact@tdk-ventures.com.

About Amperesand
Amperesand's infrastructure solutions, powered by novel solid-state transformer (SST) technology, enable efficient, intelligent, and resilient electrification on a global scale. Amperesand infrastructure systems are built with solid-state transformer (SST) modules. Each module contains silicon carbide (SiC) devices and proprietary high-frequency transformers that are significantly more efficient, flexible, and resilient than traditional transformers. This modularity allows for simple application-specific scaling. Amperesand's first SST systems will be available in 2, 4, and 6MW units, which can easily be combined for applications with larger power requirements. Its SST technology was pioneered by the Energy Research Institute at Singapore's Nanyang Technological University (NTU) and spun out by Xora Innovation. For more information, visit www.amperesand.io.

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