Syzygy Plasmonics has received a $76 million Series C funding boost which will accelerate its electric chemical manufacturing and reduce the carbon intensity of hydrogen.
The round was 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 Series C director.
The capital raised will fund further development and delivery of all-electric reactor systems that eliminate fossil-based combustion from chemical manufacturing and reduce the carbon intensity of hydrogen, methanol, and fuel.
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