Invizyne Awarded Additional $3.77M Grant From U.S. Department Of Energy
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."