Left: Michael Irwin, founder and CEO of MCatalysis; Right: Victor Liu, CEO of HL Energy Ventures [Photos: LinkedIn/HLEV]

Dallas-based MCatalysis Inc., a “deep tech” company founded earlier this year, announced the closing of a seed funding round led by Dallas’ HL Energy Ventures (HLEV). The funding will accelerate the development and scale-up of the company’s innovative microwave catalysis technology, for which MCatalysis has secured an exclusive worldwide license agreement from Oxford University Innovation (OUI), the tech transfer arm of the University of Oxford.

MCatalysis said it’s on a mission to produce low-cost, clean synthetic fuels and chemicals by upcycling waste carbon resources, such as agricultural residues, plastic waste, and waste gas streams.

The amount of seed funding raised was not disclosed.

“This seed funding from HLEV and exclusive licensing agreement with OUI mark a pivotal moment for MCatalysis,” Founder, President, and CEO Michael Irwin said in a statement. “We’re now positioned to rapidly advance our vision of a circular economy, where waste carbon is upcycled, or transformed into new, valuable products, democratizing the petrochemical supply chain. The investment from HLEV provides not only the necessary capital but also invaluable expertise in scaling deep tech ventures.”

Irwin is a venture partner and entrepreneur in residence at HL Energy Advisors, according to the firm, which is chaired by Co-General Partner Hunter Hunt.

Founder’s second seed round in six months—for two different companies

A serial entrepreneur, Irwin also recently co-founded Dallas-based DirectH2, which raised its own seed round in March to commercialize breakthrough hydrogen production technology from Houston’s Rice University.  In addition, Irwin recently founded Lausanne, Switzerland-based ElectroFueled. He previously was a founder and CTO of Hunt Perovskite Technologies, according to his LinkedIn profile, after earlier founding DFW-based HEE Solar.

More on the microwave catalysis tech

MCatalysis’ technology, derived via research from the University of Oxford in England, utilizes high-efficiency industrial microwave processes combined with unique catalysts. The novel approach promises to significantly enhance processing times and product selectivity, yielding more cost-effective and energy-efficient production for a wide range of sustainable fuels and chemicals, the company said.

HL Energy Ventures CEO Victor Liu said MCatalysis “represents the very best of what HLEV looks for in an investment: creative and brilliant co-founders with a game-changing technology that has the potential for both substantial commercial success and profound positive impact on our planet.”

Aiming to ‘contribute meaningfully to a more sustainable future’

MCatalysis said its exclusive licensing agreement with OUI grants it the global rights to the foundational intellectual property in microwave catalysis developed at the University of Oxford. OUI has more than 30 years of experience commercializing the university’s ground-breaking knowledge and research.

“At OUI, our mission is to enable impact—for the economy, for people, and for the planet—by licensing Oxford’s world-leading knowledge and research to ambitious and capable partners,” an OUI spokesperson said in a statement. “The exclusive agreement with MCatalysis exemplifies how existing companies can be powerful engines of innovation when paired with Oxford IP. We’re proud to support the journey of this ground-breaking technology from lab to market, where it can contribute meaningfully to a more sustainable future.”

MCatalysis develops novel, high-efficiency industrial microwave processes and catalysts to produce low-cost, clean synthetic fuels and chemicals from waste carbon resources.

HL Energy Ventures is an early-stage venture capital firm that invests in mission-driven founders building inspiring and valuable companies.

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