TDK Ventures invests in 15-minute EV charging startup Exponent Energy

Rhea-AI Summary

TDK Corporation (TSE: 6762) announced a partnership with India-based Exponent Energy, a battery and charging system innovator, to revolutionize EV battery technology for the Indian last-mile logistics market. Exponent's proprietary energy stack enables a 0%-100% rapid charge in 15 minutes for EVs, with a 3000-cycle lifetime warranty, and has achieved product market fit with over 500 Exponent-powered EVs covering over 3 million kilometers and completing 60,000+ rapid charging sessions.

• India-based Exponent Energy is re-engineering the complete energy stack – the battery pack, charging station, and connector – to unlock affordable and scalable rapid charging technology
• TDK Ventures partners with Exponent to bring to market this game-changing approach to EV batteries and infrastructure, contributing to the shared vision of continued energy transformation around the globe

SAN JOSE, Calif., Dec. 18, 2023 /PRNewswire/ -- TDK Corporation (TSE: 6762) announced today that subsidiary TDK Ventures has invested in battery and charging system innovator Exponent Energy and its reimagining of EV battery technology, tailor-made for the Indian last-mile logistics market. Coming fresh off helping build the 2W EV OEM Ather, now a highly valued EV startup in India, Exponent Energy founders Arun Vinayak and Sanjay Byalal Jagannath have led a top-notch team of technical experts to bring a much-needed solution to the Indian battery market, where cost efficiency and last-mile logistics are crucial.

Exponent's proprietary energy stack – comprised of the battery pack (e^pack), charging station (e^pump), and charging connector (e^plug) together unlock a 0%-100% rapid charge, in 15 minutes for EVs and a 3000-cycle lifetime warranty using regular LFP cells. Exponent partners with OEMs to integrate its e^pack to create a rapid charging variant and sets up a network of e^pumps for users operating in logistics to seamlessly charge their Exponent-powered EVs.
In the last 9 months, its technology has achieved product market fit with customers in India, with over 500 Exponent-powered EVs covering over 3 million kilometers and completing 60,000+ rapid charging sessions.

Energy transformation shouldn't be restricted to a subset of society; decarbonization is important for everyone, and through its technology, Exponent Energy provides greater access to energy-transformative technologies. That is exactly why TDK Ventures partnered with Exponent Energy: to support both organizations' mutual vision for improving tomorrow through technology. The TDK Ventures team hopes to scale Exponent's solution and help accelerate their development.

Exponent Energy CEO, Arun Vinayak stated, "Mobility is about freedom and accessibility. To unlock EV adoption at scale, we need EVs to charge faster, last longer, and cost a whole lot less. Our mission to simplify the broken energy ecosystem and provide greater access to energy-transformative technologies struck a chord with TDK – making this a perfect partnership. We're excited to work closely together to transform the EV industry."

Nicolas Sauvage, TDK Ventures President commented, "I was impressed by Arun and his talented team when I met them in their office in Bengaluru earlier this year. Exponent's groundbreaking achievement in crafting an economical and scalable 15-minute rapid charging solution utilizing standard LFP cells is revolutionary, allowing electric vehicles to adopt a more compact battery pack that can swiftly charge within a concentrated public charging infrastructure, effectively removing range anxiety. We share the vision of expanding rapid charging accessibility at a reasonable cost, making electric mobility an option for everyone. This collaboration represents an exciting stride toward a more sustainable and electrified future."

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 Exponent Energy

Led by Arun Vinayak & Sanjay Byalal, Exponent Energy aims to simplify energy for EVs. The company has built a battery pack named e^pack; charging station called e^pump; and charging connector e^plug that together unlock a 0 to 100% charge in 15 minutes for EVs with any number of wheels & provide a 3000-cycle life warranty – all while using regular Li-ion cells to make rapid charging truly affordable and scalable.

To know more, visit the official Exponent Energy website: www.exponent.energy

You can download this text and associated images from http://www.tdk-ventures.com/tdk-ventures-invests-in-15-minute-ev-charging-startup-exponent-energy

Contacts for regional media

Brand	Contact		Phone	Mail
TDK	Ms. S MACKENZIE	Publitek Portland, OR, USA	+1 503 720 3743	sarah.mackenzie@publitek.com
TDK Ventures	Mr. R. FINELLI	TDK Ventures San Jose, CA, USA	+1 408 667 5970	raphel.finelli@tdk-ventures.com

 

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SOURCE TDK Ventures

FAQ

What is the partnership announced by TDK Corporation (TSE: 6762)?

TDK Corporation (TSE: 6762) announced a partnership with India-based Exponent Energy to revolutionize EV battery technology for the Indian last-mile logistics market.

What is Exponent Energy's proprietary energy stack?

Exponent's proprietary energy stack enables a 0%-100% rapid charge in 15 minutes for EVs, with a 3000-cycle lifetime warranty.

How many Exponent-powered EVs have achieved product market fit?

Over 500 Exponent-powered EVs have achieved product market fit, covering over 3 million kilometers and completing 60,000+ rapid charging sessions.

What is the vision of TDK Ventures in partnering with Exponent Energy?

TDK Ventures partnered with Exponent Energy to support both organizations' mutual vision for improving tomorrow through technology and hopes to scale Exponent's solution and help accelerate their development.