Syzygy Plasmonics Signs Strategic Investment Agreement with Mitsubishi Heavy Industries

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Oct 10, 2023, 10:03 ET

Goals include further innovation to better enable the hydrogen and CO₂ ecosystems

HOUSTON, Oct. 10, 2023 /PRNewswire/ -- Syzygy Plasmonics announced today that it has reached a strategic investment agreement with Mitsubishi Heavy Industries, Ltd. (MHI), executed through Mitsubishi Heavy Industries America, Inc. (MHIA). The agreement formalizes ties between Syzygy and MHIA, giving the global multinational engineering and manufacturing technology company greater insight into Syzygy's strategic priorities and an opportunity to support Syzygy's business execution plans.

Commercial-scale Rigel™ photoreactor undergoing testing at Syzygy’s manufacturing facility in Pearland, Texas.

"MHIA has been making moves to establish themselves as one of the leaders in the energy transition," said Syzygy Chief Executive Officer Trevor Best. "Formalizing our relationship with them shows their commitment to helping scale cutting edge technology and opens up new avenues for Syzygy and MHIA to work together as we commercialize our industrial decarbonization platform."

Syzygy Plasmonics is a deep-decarbonization company. It builds reactors that use light instead of heat to electrify chemical manufacturing and power a cleaner, safer world. Utilizing technology licensed from Rice University and advanced engineering, Syzygy is commercializing a universal photocatalytic reactor platform. When powered with renewable electricity, this tunable technology is designed to reduce both cost and emissions from many different chemical reactions. Starting with solutions designed to consume greenhouse gases and produce low- and zero-emissions hydrogen, the company's mission is to create a world where chemicals, fuels, and fertilizer are low cost, carbon neutral, and accessible to everyone. For more information visit plasmonics.tech.

Mitsubishi Heavy Industries Group is committed to building a business that contributes to realizing a decarbonized society while investing in and collaborating with various partners with innovative technologies. This investment will help Syzygy Plasmonics to accelerate commercialization and continue its development of innovative alternative technologies, particularly those that contribute to the hydrogen ecosystem and CO₂ ecosystem. Going forward, MHI will continue to enhance and diversify its solutions portfolio, providing its customers with alternative decarbonization technologies to reach their net zero goals.

SOURCE Syzygy Plasmonics