Non-Dilutive Funding and Resources Provided to De-Risk Investment and Accelerate Commercialization
| Source: Invizyne Technologies, Inc.
Monrovia, CA, Oct. 17, 2023 (GLOBE NEWSWIRE) — Invizyne Technologies, Inc., a leading designer of enzyme-based biomanufacturing systems – and a subsidiary of MDB Capital Holdings, LLC, (NASDAQ:MDBH) – today announced it was one of four companies selected to participate in the latest Shell Gamechanger Accelerator™ Powered by NREL (GCxN) program.
“We’re honored to be selected by GCxN and awarded $250,000 in non-dilutive funding to work with Shell and the National Renewable Energy Laboratory on a technical assistance project that will help us on our path to commercialization,” said Mo Hayat, CEO of Invizyne. “I’d like to offer congrats to our fellow promising cleantech companies selected for the sixth cohort – DTE Materials, Hexas and ZILA Bioworks.”
GCxN is a multi-million dollar, multi-year program developed in collaboration between Shell GameChangerand the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) working to identify and advance the next generation of transformative technologies with the potential to dramatically alter the future global energy landscape. GCxN provides selected companies with access to technical experts and state-of-the-art facilities to reduce technology development risk and accelerate commercialization of new cleaner technologies.
The companies selected for the sixth cohort are focused on developing innovative technologies that sequester carbon into building materials and convert waste and/or bio-renewable feedstocks to desired energy and chemical products.
With its patented SimplePath™ technology platform, Invizyne believes it has developed a new way to make valuable chemicals from plant-based energy sources that are both energy-efficient and economically competitive.
“In this cohort, we’re harnessing NREL’s vast research capabilities to tackle some of today’s paramount sustainability challenges,” said Johanna Jamison, GCxN Program Manager at NREL. “We’re fostering collaborations in unprecedented areas to advance cutting-edge cleaner technologies with the potential to dramatically impact the future energy landscape.”
Hayat concluded, “Thanks to our unique biomanufacturing technologies and ability to use renewable feedstocks, we believe Invizyne could play a pivotal role in creating sustainable fuels and chemical products that were previously not commercially viable when made with traditional cell-based synthetic biology. We’re thankful GCxN recognized this potential for our cell-free approach and are excited to begin working with the teams to accelerate our path to market.”
The Shell GameChanger Accelerator™ powered by NREL (GCxN) is a multi-million dollar, multi-year program developed in collaboration between Shell GameChanger and the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) to discover and advance emerging clean technologies with the potential to dramatically alter the future global energy landscape. GCxN identifies promising startup companies through an ecosystem of more than 60 cleantech business incubators, accelerators, and universities, providing access to $250,000 in non-dilutive funding per company to develop and demonstrate new energy technologies. GCxN is made possible by funding through Shell GameChanger. GCxN is administered by NREL, located in Golden, Colo.
About Invizyne Technologies, Inc.
Invizyne, a subsidiary of MDB Capital Holdings, LLC, (NASDAQ:MDBH) (“MDB”) (www.mdb.com), 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
This press release contains “forward-looking statements.” These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” “shall” and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements.
Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Invizyne’s control. Invizyne’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors. The forward-looking statements included in this press release represent Invizyne’s views as of the date of this press release. Invizyne anticipates that subsequent events and developments will cause its views to change. Invizyne undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing Invizyne’s views as of any date subsequent to the date of this press release.