• Rodatherm Energy Corporation is a privately held geothermal power-generation company with a primary focus on the Great Basin region in the Western United States
• Geothermal energy is a low-emission energy source that contributes to a greener and more sustainable future; it may be the first baseload, low-carbon, affordable generation technology available
• Rodatherm’s patented advanced geothermal system (AGS) is a fully pressurized and cased closed-loop system, analogous to a heat pump, that uses a novel working fluid and targets sedimentary basins with high natural convection. The system has a targeted operating life span of multiple decades, does not use fresh water, and has a small energy dense surface footprint

TDK Corporation (TSE: 6762) announced today that its corporate venture-capital subsidiary, TDK Ventures, Inc., is investing in geothermal power-generation company Rodatherm’s $38M Series A funding round. The strategic investment will help advance Rodatherm's innovative closed-loop advanced geothermal system (AGS) technology, which promises to deliver affordable, long term, sustainable, and baseload energy.

Operating in stealth since 2022, and with operations in both Calgary, Alberta, Canada and Salt Lake City, Utah, Rodatherm has developed a fully cased, pressurized, closed-loop geothermal system optimized for sedimentary basins to enable both conductive and convective heat transfer into the working fluid. Rodatherm’s working fluid is fully isolated and used directly in a power-generating turbine, achieving 50% higher efficiency than water-based binary-cycle geothermal systems with exceptionally low operating and maintenance costs. Rodatherm’s advanced geothermal system is expected to achieve competitive levelized costs of energy with firm power, including fossil fuels, at early project scale and is designed to have an operating life lasting decades.

“We are thrilled to partner with Rodatherm as they redefine what’s possible in geothermal energy,” said Nicolas Sauvage, President of TDK Ventures. “This investment reflects TDK Ventures’ commitment to supporting transformative technologies that address critical global challenges, including the urgent need for clean and affordable energy. We believe geothermal can play a significant role in near-term energy generation, and Rodatherm's innovative closed-loop system, combined with its strong leadership team, has the potential to unlock reliable, clean power for millions—an ambitious mission we are proud to help accelerate.”

Led by CEO Curtis Cook, the Rodatherm team brings a fresh yet deeply informed perspective to geothermal, combining cutting-edge innovation with a clear understanding of the energy industry’s operational realities. Mr. Cook founded, led and built several successful energy corporations, including Vesta Energy Corp which commercialized a single well discovery into a successful company with an asset value well over $1B. The team has broad energy industry experience and a history of working together effectively in high impact environments, like geothermal.

Key advantages of Rodatherm’s AGS include:

• A well understood process cycle design, the system is analogous to a heat pump “at depth”
• A thermodynamically closed system can be placed in any reservoir environment with no concern for working fluid loss or contamination from the reservoir, significantly lowering operating and maintenance costs compared to competing systems which expose the working fluid directly to the rock
• Uses a novel working fluid, which can extract the required heat from the underground reservoir with 5X less fluid compared to traditional water based geothermal systems
• The system has a targeted operating life spanning multiple decades, does not use fresh water, and has a small, energy dense surface footprint
• All of the individual technologies used in Rodatherm’s system are fully mature and commercialized. The novelty of Rodatherm’s technology lies in the way design features are combined into a patented modular system that achieves the most economical performance overall

“We are thrilled to have TDK Ventures join our valued group of investors,” said Curtis Cook, CEO of Rodatherm. “Their investment will accelerate the deployment of our geothermal technology, enabling us to bring reliable and cost-effective clean energy to market faster. We believe geothermal energy is poised to be a major contributor to the global energy transition. And with TDK Ventures assistance both financially, and in providing access to TDK Goodness, as well as the many synergy opportunities within TDK Corporation, our road to success is now shorter and smoother.”

Rodatherm will use the $38M Series A proceeds to build its first pilot system in Utah. The company intends for the site to demonstrate the ability to build and deploy its system within CapEx and OpEx projections and energy conversion efficiency projections. That in turn will enable the company to expand to a full power project development within Utah, leveraging non-dilutive project financing.

TDK Ventures��� Rodatherm investment is part of its $150 million (USD) multi-LP Fund EX1, which focuses on both European and North American-based electrification and decarbonization startups in Seed through Series B stages. It is part of the corporate venture capital firm’s commitment to advance cleantech and sustainable energy solutions worldwide.

TDK Ventures is committed to finding and impacting scaling technologies on the frontiers of innovation, whose contributions have the potential to build a better, brighter future for all of humanity. 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 (TSE:6762) is a global technology company and innovation leader in the electronics industry, based in Tokyo, Japan. With the tagline “In Everything, Better” TDK aims to realize a better future across all aspects of life, industry, and society. For over 90 years, TDK has shaped the world from within; from the pioneering ferrite cores to cassette tapes that defined an era, to powering the digital age with advanced components, sensors, and batteries, leading the way towards a more sustainable future. United by TDK Venture Spirit, a start-up mentality built on visions, courage and mutual trust, TDK’s passionate team members around the globe pursue better—for ourselves, customers, partners, and the world. Today, the state-of-the-art technologies of TDK are in everything, from industrial applications, energy systems, electric vehicles, to smartphones and gaming, at the core of modern life. TDK’s comprehensive, innovative-driven portfolio includes cutting-edge passive components, sensors and sensor systems, power supplies, lithium-ion and solid-state batteries, magnetic heads, AI and enterprise software solutions, and more—featuring numerous market-leading products. These are marketed under the product brands TDK, EPCOS, InvenSense, Micronas, Tronics, TDK-Lambda, TDK SensEI, and ATL. Positioning the AI ecosystem as a key strategic area, TDK leverages its global network across the automotive, information and communication technology, and industrial equipment sectors to expand its business in a wide range of fields. In fiscal 2025, TDK posted total sales of USD 14.4 billion and employed about 105,000 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 robotics and industrial, next-generation transportation, 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 Rodatherm

With locations in Calgary, Alberta, Canada and Salt Lake City, Utah, Rodatherm Energy Corporation is a privately held geothermal power-generation company with a current focus on the Great Basin region in the Western United States. It consists of a team of seasoned energy professionals dedicated to clean, cost-effective, and reliable electricity generation. Distinguished by its pioneering Advanced Geothermal System (AGS), which utilize a novel closed-loop design and working fluid to deliver highly efficient, low-cost, and firm geothermal power, the company possess a land base capable of sustaining hundreds of MW of versatile long term sustainable baseload and dispatchable power generation. For more information, visit: Home - Rodatherm Energy Corporation.

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