Sectors
Foley & Lardner LLP represented TDK Ventures as a lead investor in the $15 million Series A round for R3 Lithium, the company operating North America’s first commercial-scale lithium carbonate recovery facility. Additional investors included Integral GlobalTech Partners and Axial Partners.
R3 Lithium operates North America’s first commercial-scale lithium carbonate recovery facility, located in Covington, Georgia. Using a lithium-first extraction process, the company recovers, refines, and returns lithium carbonate from recycled black mass into the battery supply chain for energy storage systems, defense applications, and electric vehicles. The new funding will be used to upgrade the existing lithium carbonate production line.
TDK Ventures 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.
The Foley team was led by partners Louis Lehot and Lyman Thai and included partner Rishi Sodhi, of counsel Shane Moses and Alan Pate, and associates Alexandre Turqueto and Isabella Tappin.
