Equinor Ventures invests in Syzygy Plasmonics
Equinor Ventures is pleased to announce an investment in Syzygy, a Texas based company developing technology to power low-emission chemical reactions for production of hydrogen and other chemicals.
Syzygy secures USD 23 million in Series B funding as they develop the photocatalyst and light-powered reactor platform for the industrial gas, chemical and energy industries.
Today, the production of chemicals such as plastics, fuels, fertilizers and hydrogen is primarily reliant on fossil fuels. Powering reactions that produce chemicals is traditionally done through thermal catalysis. Syzygy’s photocatalytic technology aims to replace heat with LED light powered by electricity to trigger these chemical reactions - an industrial process transformation with the potential to drive a material reduction in carbon emissions.
"We have announced our ambition to become a net-zero energy company by 2050 and in order for society at large to meet its climate goals it will require new solutions and technologies. We are pleased to announce the investment in Syzygy as one potential contributor to help the energy industry reduce emissions as part of our effort to shape the future of energy," said Gareth Burns, Head of Equinor Ventures.
“With renewable electricity as an energy source, our technology is cleaner, and because of the stability and activity of our photocatalysts, we can drive dozens of possibilities, tuning reactions that produce different chemicals,” said Trevor Best, Syzygy Plasmonics’ co-founder and CEO. “Our initial product will focus on eliminating emissions from hydrogen production, transforming the industrial process involved in making semiconductors, LEDs and metals. Our system will also enable industries that are consumers of hydrogen fuel cells, like fuel cell vehicles.”