The Engine invests in Syzygy

by https://www.businesswire.com/news/home/20190819005516/en/Syzygy-Raises-5.8-Million-Develop-Transformative-Platform
08.19.2019

Syzygy Raises $5.8 Million to Develop Transformative Platform for Clean Chemical Manufacturing

HOUSTON–Syzygy Plasmonics, a technology company developing the world’s highest performance photocatalyst, today announced it has raised $5.8 million in Series A funding. The financing was co-led by The Engine and by The GOOSE Society of Texas. Previous investor Evok Innovations was also a major participant in the round. Other participants include angel investors from the Creative Destruction Lab program and the Houston area.

Syzygy is advancing a new photocatalytic chemical reactor powered by light from renewable electricity instead of heat from burning fuel. Syzygy’s photocatalytic reactor holds promise to revolutionize the industrial gas, chemical, and energy industries by significantly reducing the cost and carbon emissions in the production process for a wide range of major chemicals such as fuel, fertilizer, and plastic. Based upon two decades of breakthrough research from world-renowned professors Naomi Halas and Peter Nordlander at Rice University, the photocatalysts are orders of magnitude more active, stable, and efficient than previous photocatalysts.

“With pioneering research combined with product development focus, we see a future where fuels, chemicals, and fertilizers are produced more sustainably and at a lower cost than the status quo today,” said Trevor Best, CEO and co-founder of Syzygy. “We have the potential for positive global impact in working with chemical and energy industry players and the people they serve by enhancing sustainability, improving accessibility, lowering cost, and enabling new business models.”

“Based on breakthroughs in plasmonic science by professors Halas and Nordlander, we now have an opportunity to dramatically reduce the carbon footprint of the chemical and energy industries,” said Suman Khatiwada, CTO and co-founder of Syzygy.

“Syzygy’s photocatalysis technology platform can transform how we approach chemical manufacturing — using light instead of burning fossil fuels,” said Katie Rae, CEO and managing partner of The Engine. “We are thrilled to support the mission of this passionate founding team to enable a future of zero-emission chemical manufacturing.”

Today’s investment comes on the heels of other significant developments for Syzygy. Earlier this year, Syzygy received grants from the Department of Energy for the development of a reactor to create hydrogen from ammonia and from the National Science Foundation SBIR Program for the development of a reactor that processes carbon dioxide.

About Syzygy Plasmonics, Inc.

Founded in 2017 based on technology licensed from Rice University, Syzygy is developing a new chemical reactor technology that utilizes the world’s highest performance photocatalyst. This photocatalytic reactor is powered by light which can be generated using renewable electricity instead of heat from burning fuel. Syzygy aims to revolutionize the industrial gas, chemical, and energy industries by drastically reducing the cost and carbon emissions in the production process for a wide range of major chemicals such as fuel, fertilizer, and plastic. Syzygy’s first go-to market is focused on hydrogen production for transportation. http://plasmonics.tech