money moves

Houston alternative energy startup raises $23M series B with global support

Syzygy Plasmonics has raised $23 million thanks to international support. Photos via plasmonics.tech

A Houston startup founded based off research coming out of Rice University has closed its series B funding, the company announced this week.

Founded in 2017, Syzygy Plasmonics is a chemical company developing a photocatalyst-powered hydrogen fuel cell technology that produces a cheaper source of energy that releases fewer carbon emissions. As of this week, the company has $23 million more to fund its scaling and grow its team thanks to the closing of its series B financing led by Hong Kong-based Horizons Venture. Equinor Ventures, a new investor, also joined in on the round, along with previous seed and series A investors including The Engine, GOOSE Capital, and Evok Innovations.

"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," says Trevor Best, Syzygy Plasmonics' co-founder and CEO, in a news release. "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."

The hydrogen-fueled technology originated out of research done over two decades by two Rice University professors, Naomi Halas and Peter Nordlander and further developed by the company's co-founder and CTO, Suman Khatiwada. The technology has the ability to both lower costs and emissions at industrial plants. According to the release, Syzygy's first product focused on hydrogen and the technology has the potential to cut the cost of zero emission hydrogen in half, when compared to other alternatives such as electrolysis.

"There are rules in chemical engineering, and you can't break them, but we follow them in a different way," CEO Trevor Best previously told InnovationMap. "What we're doing is fundamentally different. We're using light instead of heat to drive chemical reactions."

Currently, Syzygy employs 26 people and plans to double its workforce in the next year in order to launch its first full-size, commercial-ready chemical reactors in 2022.

In August of 2019, Syzygy raised its $5.8 million series A and secured Department of Energy ARPA-E and National Science Foundation SBIR Program grants.

"The keys to unlock the potential of hydrogen energy lie within production cost reduction and safety enhancements. Syzygy uses a photocatalysis process to produce H2 on premises, therefore mitigating risks of explosion imposed by the transportation of liquid hydrogen while lowering production costs to increase overall energy efficiency. This technology will be applicable to a wide-range of use-cases, enabling a faster path toward zero-emissions," says Patrick Poon of Horizons Ventures, who is also a new board member at Syzygy.

The international fundraise also attracted interest from Norway-based Equinor's venture arm, which has operations in more than 30 countries.

"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," says Gareth Burns, head of Equinor Ventures, in the release.

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Building Houston

 
 

From advanced computation to robots, Rice University, the University of Houston, and Houston Methodist are all working on using technology for medical innovation. Graphic via Getty Images

Research, perhaps now more than ever, is crucial to expanding and growing innovation in Houston — and it's happening across the city right under our noses.

In InnovationMap's latest roundup of research news, three Houston institutions are working on brain-related health care solutions thanks to technologies.

University of Houston research team focused on brain injury treatment through computation

Badri Roysam and his team at the University of Houston are working with the National Institute of Health to develop tools to treat concussions and brain injuries. Photo via uh.edu

A University of Houston researcher is tapping into technology to better treat brain injuries and conditions that scientists have not yet figured out treatment for. Badri Roysam, the current chair of electrical and computer engineering at UH and a Hugh Roy and Lillie Cranz Cullen University Professor, and his team have created a new computational image analysis methods based on deep neural networks.

"We are interested in mapping and profiling unhealthy and drug-treated brain tissue in unprecedented detail to reveal multiple biological processes at once - in context," Roysam says in a UH press release about his latest paper published in Nature Communications. "This requires the ability to record high-resolution images of brain tissue covering a comprehensive panel of molecular biomarkers, over a large spatial extent, e.g., whole-brain slices, and automated ability to generate quantitative readouts of biomarker expression for all cells."

Roysam's system, which was developed at the the National Institute of Neurological Disorders and Stroke, analyzes the images on UH's supercomputer automatically and can reveal multiple processes at once – the brain injury, effects of the drug being tested and the potential side effects of the drug, per the release.

"Compared to existing screening techniques, using iterative immunostaining and computational analysis, our methods are more flexible, scalable and efficient, enabling multiplex imaging and computational analysis of up to 10 – 100 different biomarkers of interest at the same time using direct or indirect IHC immunostaining protocols," says Roysam in the release.

The open-source toolkit, which was developed thanks to a $3.19 million grant from the National Institute of Health, is also adaptable to other tissues.

"We are efficiently overcoming the fluorescence signal limitations and achieving highly enriched and high-quality source imagery for reliable automated scoring at scale," says Roysam. "Our goal is to accelerate system-level studies of normal and pathological brains, and pre-clinical drug studies by enabling targeted and off-target drug effects to be profiled simultaneously, in context, at the cellular scale."

Houston Methodist and Rice University launch new collaboration to use robotics for clinical solutions

Rice University's Behnaam Aazhang and Marcia O'Malley are two of the people at the helm of the new center along with Houston Methodist's Dr. Gavin Britz. Photos via Rice.edu

Rice University and Houston Methodist have teamed up to create a new partnership and to launch the Center for Translational Neural Prosthetics and Interfaces in order to bring together scientists, clinicians, engineers, and surgeons to solve clinical problems with neurorobotics.

"This will be an accelerator for discovery," says the new center's co-director, Dr. Gavin Britz, chair of the Houston Methodist Department of Neurosurgery, in a news release. "This center will be a human laboratory where all of us — neurosurgeons, neuroengineers, neurobiologists — can work together to solve biomedical problems in the brain and spinal cord. And it's a collaboration that can finally offer some hope and options for the millions of people worldwide who suffer from brain diseases and injuries."

The center will have representatives from both Rice and Houston Methodist and also plans to hire three additional engineers who will have joint appointments at Houston Methodist and Rice.

"The Rice Neuroengineering Initiative was formed with this type of partnership in mind," says center co-director Behnaam Aazhang, Rice's J.S. Abercrombie Professor of Electrical and Computer Engineering, who also directs the neuroengineering initiative. "Several core members, myself included, have existing collaborations with our colleagues at Houston Methodist in the area of neural prosthetics. The creation of the Center for Translational Neural Prosthetics and Interfaces is an exciting development toward achieving our common goals."

The team will have a presence on the Rice campus with 25,000 square feet of space in the Rice Neuroengineering Initiative laboratories and experimental spaces in the university's BioScience Research Collaborative. The space at Houston Methodist is still being developed.

"This partnership is a perfect blend of talent," says Rice's Marcia O'Malley, a core member of both the new center and university initiative. "We will be able to design studies to test the efficacy of inventions and therapies and rely on patients and volunteers who want to help us test our ideas. The possibilities are limitless."

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