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Syzygy Plasmonics Raises $76 Million Series C Led By Carbon Direct Capital To Accelerate Delivery Of Low-Carbon Hydrogen Technology

Nov 16, 2022•over 2 years ago

Amount Raised

$76 Million

Round Type

series c

HoustonOther

Investors

Horizons VenturesGoose CapitalEquinor VenturesToyota VenturesChevron Technology VenturesAramco VenturesCarbon Direct Capital

Description

Syzygy Plasmonics, a deep-decarbonization company that is electrifying chemical manufacturing, today announced $76 million Series C financing led by Carbon Direct Capital with participation from Aramco Ventures, Chevron Technology Ventures, LOTTE CHEMICAL, and Toyota Ventures. Existing investors including EVOK Innovations, The Engine, Equinor Ventures, Goose Capital, Horizons Ventures, Pan American Energy, and Sumitomo Corporation of Americas also joined the round. Carbon Direct Capital will join the Syzygy board and serve as the Series C director.

Company Information

Company

Syzygy Plasmonics

Location

9000 KIRBY DR.

Houston, Texas, United States

About

Syzygy Plasmonics is commercializing a radical new technology developed at Rice University. Our technology enables us to turn traditional catalysts into high efficiency photocatalysts. This conversion allows us to produce chemical reactors that are powered by light instead of burning fuel and operate at up to 1,000 degrees Fahrenheit lower temperature than conventional chemical reactors. Through this we can dramatically reduce the cost of chemicals produced while simultaneously reducing emissions associated with their production. Currently we are capable of performing multiple different chemical reactions and plan to enter the market with photocatalytic steam methane reforming to generate hydrogen gas. Hydrogen gas made through our process will reduce costs for industry and also help enable the expansion of the hydrogen fuel cell vehicle market.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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