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- Syzygy Plasmonics
Syzygy Plasmonics Funding, Investors & Competitors
Syzygy Plasmonics has raised $105M across 4 funding rounds, most recently a undisclosed-stage round in June 2026.
Last Syzygy Plasmonics funding round
Undisclosed stage
Amount undisclosed · Jun 2026
Cumulative funding Syzygy Plasmonics raised
$105M
across 4 funding rounds
Key investors in Syzygy Plasmonics
The Engine
Evok Innovations
GOOSE Capital
Horizons Ventures
Equinor Ventures
Toyota Ventures
Chevron Technology Ventures
Creative Destruction Lab (CDL)
About Syzygy Plasmonics
Syzygy Plasmonics is a Houston-based developer of photocatalytic reactors for hydrogen production. Its light-powered technology operates at temperatures over 1,000°F lower than traditional methods, enabling on-site green hydrogen generation for fuel cell vehicles and small industrial sites with rapid start-stop capabilities and reduced maintenance.
Founded
2017
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Syzygy Plasmonics Funding History
Syzygy Plasmonics has raised a total of $105M across 4 funding rounds.
Syzygy Plasmonics' first fundraising round was a $6M Series A in August 2019. The most recent completed round was a undisclosed-stage round in June 2026.
Syzygy Plasmonics funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jun 2026 | Undisclosed stage | Tupras Ventures (lead) | - | - |
| Nov 2022 | Series C | Carbon Direct Capital (lead); Sumitomo Corporation of America; Toyota Ventures; The Engine; Lotte; Evok Innovations; GOOSE Capital; Pan American Energy; Chevron Technology Ventures; Horizons Ventures; Equinor Ventures; Saudi Aramco Energy Ventures | $76M | Syzygy Plasmonics is a Houston-based deep-decarbonization company spun out of Rice University technology, specializing in electrifying chemical manufacturing through photocatalysis. The company develops all-electric reactor systems using low-cost materials like glass, aluminum, and LEDs to drive chemical reactions with light instead of fossil fuel-based thermal energy, targeting production of low-carbon hydrogen, ammonia, methanol, and fuels from feedstocks such as green ammonia, steam methane reforming, carbon dioxide, and methane. This universal reactor platform aims to reduce carbon intensity and eliminate combustion in hard-to-abate sectors, with a mission to achieve 1 gigaton of carbon emissions reductions by 2040. On November 16, 2022, Syzygy closed a $76 million Series C funding round led by Carbon Direct Capital, which joined the board as the Series C director. Participants included new investors Aramco Ventures (Saudi Aramco Energy Ventures), Chevron Technology Ventures, LOTTE CHEMICAL (Lotte Group), and Toyota Ventures, alongside existing backers EVOK Innovations, The Engine, Equinor Ventures, Goose Capital (GOOSE Capital), Horizons Ventures, Pan American Energy, and Sumitomo Corporation of Americas. The round matches the specified investors and approximate date, following prior raises of $23 million Series B and $5.8 million Series A, plus over $35 million in total prior equity and grants from ARPA-E and NSF SBIR. Funding will accelerate development and delivery of commercial reactor systems, with field trials underway and units scheduled to ship in 2023. Select Series C investors have entered commercial agreements to support their decarbonization goals. The company, employing over 80 people, plans to double its workforce to expand offerings. CEO Trevor Best highlighted strong market signal from strategic investors, while Carbon Direct Capital's Jonathan Goldberg noted attraction to the reactor's multiple use cases and lifetime customer value in addressing over 900 million metric tons of annual CO2 from hydrogen production. Syzygy's technology, rooted in decades of nanophotonics research by co-founders and advisers Naomi Halas and Peter Nordlander, positions it uniquely for hydrogen and broader chemical markets. CTO Suman Khatiwada emphasized alignment of energy, technology, and sustainability for zero-emissions outcomes. Investors are active in Rice Alliance Energy Tech forums, underscoring the round's significance as one of the largest for a Rice lab spinout. |
| Apr 2021 | Series B | Horizons Ventures (lead); The Engine; Evok Innovations; GOOSE Capital; Equinor Ventures | $23M | Syzygy Plasmonics, a Houston-based technology company spun out of Rice University research, develops advanced photocatalysts and reactors that use light instead of heat from fossil fuels to drive chemical reactions, targeting cleaner production of hydrogen, fertilizers, plastics, fuels, and other chemicals for the gas, chemical, and energy industries. The company's initial focus is on emissions-free hydrogen production, aiming to halve costs compared to electrolysis while enhancing safety by enabling on-site generation. On April 6, 2021, Syzygy closed an oversubscribed $23 million Series B financing round led by Horizons Ventures, with participation from new investors Equinor Ventures and existing backers The Engine, GOOSE Capital, and Evok Innovations. This brought total funding to approximately $35 million, including prior raises of nearly $12 million across seed and Series A rounds (a $5.8 million Series A co-led by GOOSE Capital and The Engine, closing at $10.7 million). The funds support product development, hiring, scaling of photocatalytic reactors, and commercialization efforts. The technology has garnered global interest from investors across the U.S., Asia, and Europe, with Patrick Poon from Horizons Ventures joining the board. Syzygy's reactors promise broader applications in semiconductors, LEDs, metals, and hydrogen fuel cell industries, leveraging stable, high-activity photocatalysts powered by renewable electricity for zero-emission processes. |
| Aug 2019 | Series A | GOOSE Capital (lead); The Engine (lead); Evok Innovations; Creative Destruction Lab (CDL) | $6M | Syzygy Plasmonics raised $5.8M in a Series A round on August 19, 2019, from investors including Creative Destruction Lab (CDL), Evok Innovations, GOOSE Capital, and The Engine. The company develops a photocatalytic reactor powered by light to electrify chemical manufacturing and decarbonize hard-to-abate industries. Subsequent rounds include a $23M Series B in April 2021 with Equinor Ventures, The Engine, GOOSE Capital, Evok Innovations, and Horizons Ventures, and a $76M Series C in November 2022 led by multiple investors including Aramco Ventures and Chevron Technology Ventures. Total funding raised across rounds exceeds $110M. |
Who has invested in Syzygy Plasmonics?
14 investors have backed Syzygy Plasmonics across its funding rounds, including The Engine, Evok Innovations, GOOSE Capital, Horizons Ventures, Equinor Ventures and Toyota Ventures.
Lead investors include Tupras Ventures, Carbon Direct Capital, Horizons Ventures, GOOSE Capital and The Engine.
Syzygy Plasmonics Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Aug 2019 | ||
| 3 | Participant | Aug 2019 | ||
| 3 | Lead | Aug 2019 | ||
| 2 | Lead | Apr 2021 | ||
| 2 | Participant | Apr 2021 | ||
| 1 | Participant | Nov 2022 | ||
| 1 | Participant | Nov 2022 | ||
| 1 | Participant | Nov 2022 | ||
| 1 | Participant | Nov 2022 | ||
| 1 | Participant | Aug 2019 | ||
| 1 | Participant | Nov 2022 | ||
| 1 | Lead | Nov 2022 | ||
This data is available for Pro users. Sign up to see all 14 Syzygy Plasmonics investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialSyzygy Plasmonics Competitors
Syzygy Plasmonics competitors include listed companies like Vistra and First Solar, and private ones like Clean Planet, Electra, Climeworks and Amogy.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.2B | - | ||
| Private | - | - | $1.2B | - | ||
| Private | - | - | $1.1B | - | ||
| Private | - | - | $700M | - | ||
| Publicly listed | $18B | $5B | $47B | 3.3x | ||
| Publicly listed | $5.2B | $2.1B | $21B | 3.8x |
Syzygy Plasmonics Public Comps
Syzygy Plasmonics is still privately-owned, but its public comps include Aramco, ExxonMobil, Chevron, PetroChina, Shell, TotalEnergies, NextEra Energy, ConocoPhillips, Iberdrola and CNOOC.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $446B | $213B | 3.9x | 3.7x | 8.2x | 7.1x | |||
| $324B | $68B | 2.2x | 1.8x | 10.5x | 8.0x | |||
| $184B | $41B | 2.4x | 2.0x | 10.7x | 7.1x | |||
| $427B | $70B | 0.8x | 0.7x | 4.7x | 4.4x | |||
| $267B | $55B | 1.2x | 1.0x | 5.8x | 4.5x | |||
| $182B | $38B | 1.3x | 1.2x | 6.3x | 4.9x | |||
| $27B | $16B | 10.4x | 9.6x | 17.8x | 16.2x | |||
| $59B | $25B | 3.0x | 2.6x | 6.9x | 5.7x | |||
This data is available for Pro users. Sign up to see all Syzygy Plasmonics competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Syzygy Plasmonics
| When was Syzygy Plasmonics founded? | Syzygy Plasmonics was founded in 2017. |
| Where is Syzygy Plasmonics headquartered? | Syzygy Plasmonics is headquartered in Houston, TX, United States. |
| Is Syzygy Plasmonics publicly listed? | No, Syzygy Plasmonics is a private, VC-backed company. |
| How much funding has Syzygy Plasmonics raised? | Syzygy Plasmonics has raised $105M across 4 funding rounds. |
| What was Syzygy Plasmonics' last funding round? | Syzygy Plasmonics' last funding round was a undisclosed-stage round in June 2026, led by Tupras Ventures. |
| Who are Syzygy Plasmonics' investors? | Syzygy Plasmonics' investors include The Engine, Evok Innovations, GOOSE Capital, Horizons Ventures, Equinor Ventures, Sumitomo Corporation of America, Toyota Ventures, Lotte, Pan American Energy, Creative Destruction Lab (CDL) and 4 others. |
| Which companies are comparable to Syzygy Plasmonics? | Companies comparable to Syzygy Plasmonics include Clean Planet, Electra, Climeworks, Amogy, Vistra and First Solar. |
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