TDK Joins Fund Raising $38MM in Rodatherm Geothermal Tech [Yahoo! Finance]
TDK CORP S/ADR (TTDKY)
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Source: Yahoo! Finance
Rodatherm's advanced geothermal system technology is comparable to a heat pump. The system is a fully cased, pressurized, closed-loop geothermal system for sedimentary basins to enable both conductive and convective heat transfer into a working fluid for heat extraction. Rodatherm's working fluid is fully isolated and used directly in a power turbine. It is 50% more efficient than water-based binary-cycle geothermal systems and can extract heat from underground reservoirs with 5X less fluid compared to traditional systems, according to a Sept. 15 press release. The technologies used in the system are all fully mature and commercialized. The way the features are combined makes the system novel and economical, TDK said. The $38 million in proceeds from the funding round will be used to build Rodatherm's first pilot system in Utah. TDK's portion of the investment is part of its $150 million multi-LP Fund EX1, which focuses on both European and North American-based electrification
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