- pH7 Technologies announced it raised $16 million.
pH7 Technologies – a pioneer in clean and sustainable critical metal extraction solutions – announced the successful closing of its series A financing round. This funding round was oversubscribed and the company raised $16 million from notable investors such as TDK Ventures, Pangea Ventures, BASF venture Capital, FM Capital, Collaborative Fund, and Rhapsody ventures.
As a new Canadian sustainable startup, pH7 Technologies has developed a game-changing metal extraction process that will reduce the environmental impact of the mining and convectional recycling process. This funding round will be used to accelerate the development and commercialization of PH7’s innovative cleantech recycling solutions and scale the company.
PH7’s proprietary closed-loop process offers near the net-zero environmental impact in the extraction of key minerals and will serve as an enabler allowing metal supply to support the massive electrification movement.
TDK Ventures, a subsidiary of TDK Corporation, is known as a leading corporate venture capital firm focused on investing in innovative technology startups. And they co-lead the A series round with Pangea Ventures, a venture capital firm focused on investing in sustainability startups with a focus on materials and energy solutions.
pH7 Technologies’ chemical processes are gaining traction within industry OEMs, metal refiners, and suppliers due to its inherently scalable, high-yield, and faster-than-acid-based solution. And the new metal extraction process represents a practical solution to an industry-pervasive problem while simultaneously creating a low-cost solution with high environmental consideration, and a demonstrated technical maturity. And the successful closing of the A Series financing round is a significant milestone for pH7 Technologies, and the company is poised for growth and expansion in the coming years.
KEY QUOTES:
“Our team is thrilled to have the support of our co-lead investors, TDK Ventures and Pangaea Ventures, as well as other new investors like Rhapsody Ventures, Collaborative Fund, FM Capital, and BASF Venture Capital, who will work with us to scale our sustainable metal-extraction process. We are committed to developing environmentally responsible solutions that address the challenges in the metal supply chain, and we believe that our technology can help accelerate the global transition to a more sustainable energy future.”
— Mohammad Doostmohammadi, CEO of pH7 Technologies
“TDK Ventures will support pH7 Technologies in their mission to create a more sustainable and efficient metal-extraction process. 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.”
— Nicolas Sauvage, President of TDK Ventures
“pH7 Technologies has created a path forward for key metals extraction and refining that will enable the transition to renewable energy in a much more clean and sustainable way. We share pH7’s passion to create a more habitable and sustainable planet for future generations and are excited to be a part of this project.”
— Sarah Applebaum, Partner with Pangaea Ventures
