Syzygy Plasmonics

Syzygy Plasmonics (Syzygy) develops photocatalytic chemical reactors for fuel cell vehicles and small-scale industrial applications. The company’s technology replaces heat with light to trigger the necessary chemical reactions. This eliminates the need to burn fuel, and its ability to operate at low temperatures reduces costs and emissions.

Syzygy’s first commercial product would be a hydrogen production system for small-scale users, such as manufacturers of semiconductors, LEDs, float glass, food oil, metals, and users of hydrogen fuel cell electric vehicles. The company claims its technology has the potential to cut the cost of clean hydrogen in half, compared to other methods such as electrolysis. The company introduced a new reactor with light-activated catalysts in December 2022, and in January 2024, the company announced that its Rigel cell is available for order. The Rigel cell is reportedly the world's first light-powered reactor cell for industrial chemical reactions, and can be ordered in stacks designed to produce up to 5 tons of hydrogen per day from ammonia. The company also plans to expand into other reactors such as carbon dioxide to value, fertilizer, and commodity chemicals.

In October 2022, the company launched CarbonModel.com, an online tool for calculating the carbon footprint and levelized cost of hydrogen production.

Key customers and partnerships

In August 2022, Syzygy entered into a joint development agreement with LOTTE Chemical, LOTTE Fine Chemical (a South Korean chemical company), and Sumitomo Corporation of Americas (SCOA), an oil and energy company, to test an all-electric chemical reactor to produce clean hydrogen.

In January 2023, the company announced a partnership with the nonprofit research institute RTI International to conduct a pilot project for sustainable fuel production (by converting carbon dioxide and methane into low-carbon fuels) at its facility in North Carolina.

Funding and financials

Syzygy received a strategic investment from Mitsubishi Heavy Industries (MHI) in October 2023. The investment gives MHI greater insight into Syzygy's strategic priorities and the ability to support its business execution plans. Prior to this, the company last raised funding in November 2022, when it raised USD 73 million in a Series C funding round led by Carbon Direct Capital. In April 2021, Syzygy raised USD 23 million in a Series B funding round led by Horizons Ventures. Proceeds are expected to be used for team expansion, product development, and commercialization.