Invizyne Secures $2M Defense Contract to Advance Sustainable Aviation Fuel Tech | IZTC Stock News
Summary
Project is part of the U.S. Department of Defenses BioMADE initiative to support U.S. bioindustrial manufacturing innovations and workforce developmentMonrovia, CA, Nov. 19, 2024 (GLOBE NEWSWIRE) -- Today, Invizyne Technologies, Inc., (NASDAQ: IZTC) ("Invizyne"), a leading designer of cell-free, enzyme-based biomanufacturing systems to produce commercially important molecules and chemicals for everyday life, announced it was awarded a project to enable enzyme production for cell-free biomanufacturing of sustainable aviation fuel (SAF).The project is a cost share grant from the U.S. Department of Defenses BioMADE initiative, in partnership with the University of Georgia. It is one of 17 BioMADE projects announced on October 30, 2024, to drive the scale-up and commercialization of American biomanufactured products.The next five to ten years will determine the global leader of the bioeconomy. The global SAF market is expected to grow at a compound annual rate of to reach by 2032, according to Acumen Research and Consulting.Project DetailsThe latest grant from BioMADE will be used to take the next step toward cell-free biomanufacturing of isobutanol. Now that we have completed our IPO and we are able to continue to mature our technology, I fully believe we can become the leader in next generation biomanufacturing and dramatically reduce greenhouse gas emissions and foster a shift toward renewable solutions in the process.About BioMADEBy supporting the scale-up of bioindustrial manufacturing technology from research labs to commercial production, BioMADE and its network of nearly 300 members across 37 states are strengthening American competitiveness, securing the U.S. supply chain, reshoring manufacturing jobs, supporting rural development and domestic agriculture, and producing more sustainable products untethered from reliance on petroleum. Invizyne is redefining biomanufacturing by leveraging cell-free, multi-step, enzyme-based systems to efficiently transform natural or renewable resources into highly sought after biochemicals, such as Active Pharmaceutical Ingredients (APIs), biofuels, food flavors, fragrances, cosmetics, etc.