Invizyne Awarded Additional $3.77 Million Grant from U.S. Department of Energy
11 Oktober 2023 - 5:10PM
Invizyne Technologies, Inc., a leading designer of
enzyme-based biomanufacturing systems – and a “Big Idea”
company from
MDB Capital Holdings, LLC,
(NASDAQ:MDBH) ("MDB") – today announced it received an
additional $3.77 million grant from the Bioenergy Technologies
Office (BETO) within the U.S. Department of Energy's (DOE's) Office
of Energy Efficiency and Renewable Energy (EERE).
“With our patented SimplePath™
technology platform, we developed a new way to make valuable
chemicals from plant-based energy sources, thereby reducing the
pollution associated with traditional production methods. This
includes isobutanol, which is an industrial chemical with potential
to significantly reduce greenhouse gas emissions, especially when
used as aviation fuel,” said Mo Hayat, CEO of Invizyne.
BETO previously awarded Invizyne $2.08
million to develop and demonstrate conversion of cellulosic sugars
to isobutanol, which the company successfully completed. With this
most recent grant, Invizyne’s newly formed “Energy Transition”
business unit will run the project titled "Cell-Free Isobutanol
Production" to demonstrate the company’s cell-free production
process can both make isobutanol from plants in an energy-efficient
manner and at a price that competes with isobutanol produced from
petroleum.
The global sustainable aviation fuel
market is expected to grow at a compound annual rate of 52.2% to
reach $27.4 billion by 2032, according to Acumen Research and
Consulting.
Hayat concluded, “Most people
considered Invizyne’s approach to produce chemicals outside of
living cells near impossible until we invented it. The continued
funding from the DOE further demonstrates the potential for our
disruptive platform to create vital fuels and chemicals at
commercially viable prices that have not been possible with
traditional cell-based synthetic biology. I look forward to the
successful completion of this project, as it will also enable the
company to expand beyond isobutanol to replace various other
petroleum-based products.”
About Invizyne Technologies, Inc.
Invizyne is an enzyme-based biomanufacturing technology company
headquartered in Monrovia, California. The company specializes in
designing enzymes and building truly cell-free enzymatic pathways
that can run continuously and unassisted outside of living cells,
therefore avoiding many of the problems other synthetic biology
companies run into when trying to scale cell-based or immobilized
biomanufacturing technologies. With a vision to enable a new
generation of natural resources, we believe Invizyne's enzyme
design capabilities, coupled with its patent protected
biomanufacturing technology platform, position the company to drive
positive change in the biofuels industry and many other industries
that are looking for greener and better manufacturing
technologies.
For more information, please visit www.invizyne.com
Media contacts: press@invizyne.com Partnership contacts:
partners@invizyne.com
About MDB Capital Holdings,
LLC
MDB was founded in 1997 with the
purpose of backing visionary technology, inventors, and technology
entrepreneurs via a new form of public venture capital that
finances pre-revenue, early-stage companies through early public
offerings, primarily listed on NASDAQ. After successfully launching
16 companies under this public venture model, MDB itself became a
public entity to attract investors who share its vision to continue
to launch new platform technologies into the public markets.
MDB currently has two wholly owned
subsidiaries, Public Ventures, LLC ("Public Ventures'') and
Patentvest, Inc., and has a majority ownership stake in Invizyne
Technologies, Inc. MDB is also in the process of expanding the
business scope of Public Ventures, an SEC registered and FINRA
member broker dealer, to include self-clearing capabilities to
enhance its investment banking services to both issuers and
investors.
For more information, please
visit www.mdb.com.
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