University System of Maryland Momentum Fund Invests in Alchemity

BALTIMORE (July 14, 2026) - The University System of Maryland Momentum Fund (Momentum Fund) has joined Alchemity's Seed Financing round, alongside Blackbird Labs, Chesapeake Bay Seed Capital Fund, the Discovery Fund, District Angels, the Maryland Energy Innovation Accelerator through the Climate Technology Founders Fund, Resilient Earth Capital, and the TEDCO Seed Fund. Alchemity's game-changing reactor core, developed with intellectual property licensed from the University of Maryland, College Park (UMCP), transforms underutilized wasted resources and greenhouse gases into sustainable aircraft fuel (SAF) for commercial airlines.

"This investment allows Alchemity to validate technical performance at a meaningful scale and reduce commercialization risk by increasing the technology readiness and gathering crucial system operational data," said Emir Dogdibegovic, co-founder and CEO of Alchemity. "We thank the investors for their support, and we're looking forward to putting our heads down and executing on the proposed efforts."

The investment will support demonstration of a single-step, liquid fuel production reactor system with zero CO2 emissions. The core technology, a Shell GameChanger awardee, was developed by Professor Eric Wachsman, director of the Maryland Energy Innovation Institute and William L. Crentz Centennial Chair in Energy Research at the Clark School of Engineering at the University of Maryland. Alchemity is working toward a pilot-scale SAF reactor demonstration, representing a pivotal milestone in the commercialization of its modular technology designed to convert waste or stranded gas (such as methane and CO2) into high-value liquid fuels and chemicals. Alchemity intends to offer distributed fuel security at price parity to conventional fuels.

"We're excited to partner with the Alchemity team and a strong syndicate of Maryland-based investors," said Mike Ravenscroft, managing director of the Momentum Fund. "Alchemity's approach to modularized SAF production represents a potential breakthrough in a market that is seeing surging demand and remains structurally supply-constrained. The events of the last year have demonstrated the endemic volatility of the fossil fuel market and the increasing cost pressures facing airlines and consumers. We're looking forward to working with the Alchemity team to accelerate the transition to sustainable fuels and mitigate the risks and harms associated with traditional fuel sources."

Bio-methane emissions and the underutilization of renewable gas resources pose significant environmental and economic challenges. Traditional methods used to capture and process biogas and landfill gas are frequently cost-prohibitive, inefficient, and carbon-intensive. Alchemity uses a proprietary thermos-catalytic membrane reactor that enables a modular, single-step conversion process. Deployed directly at the point of gas production, this technology transforms waste or stranded bio-methane and CO2 into low-carbon fuels including SAF, renewable diesel, and other valuable products, significantly reducing greenhouse gas emissions while optimizing local resource utilization.

Alchemity recently graduated from the Creative Destruction Lab and received a Build Our Future Grant Award from Maryland Department of Commerce. Alchemity is poised to deliver measurable environmental, economic, and financial impacts for the state of Maryland and beyond:

• Environmental benefits: By converting waste biogas into low-carbon fuels, the technology directly mitigates localized methane emissions. Each subsequent commercial-scale system is projected to avoid tens of thousands of tons of CO2 annually through active methane mitigation and the displacement of traditional fossil fuels.
  
• Economic and job growth: The expansion supports Maryland-based job creation across high-skilled sectors, including engineering, manufacturing, skid assembly, field operations, and project development. Early commercial growth is expected to create dozens of skilled jobs within the state.
  
• Financial Value Creation: The single-step waste gas to liquid fuel conversion process turns an environmental liability into a marketplace asset. By converting waste methane and CO2 streams into marketable fuels and chemicals, the technology introduces lucrative new revenue opportunities for Maryland farms, wastewater treatment facilities, and landfill operators.

Ken Porter, the executive director of UM Ventures, College Park, noted, "Alchemity is a very exciting startup, and we're thrilled that the Momentum Fund and other leading regional investors are supporting the company's growth. Advancements like this are not only a boon for the company, they also underscore the societal and economic impact of transformative UCMP discoveries."

Alchemity's patented reactor, which utilizes technology developed by and licensed from UMCP, is the most recent success from the university's patent portfolio. Together with other schools in the University System of Maryland, UMCP ranks eighth among U.S. public institutions for turning research and discoveries into patents, according to the National Academy of Inventors' Top 100 Worldwide Universities Granted U.S. Utility Patents 2024 report.

About Alchemity
Alchemity is Seed-stage climate-tech company located in College Park, Maryland. Backed by a strong intellectual property portfolio and existing state-of-the-art facility, the company pursues a path to deploy single-step, distributed, liquid fuel synthesis reactors from waste or stranded gas with zero CO2 emissions. With a mission to offer fuel security at price parity through distributed fuel production facilities, Alchemity is scaling a breakthrough technology allowing for lower overall Capex and Opex and eliminating the green premium, allowing faster scaling and deployment of low-carbon fuels.

About the University System of Maryland Momentum Fund
The Maryland Momentum Fund is an initiative of the University System of Maryland (USM) to provide late seed investment funding for promising technology ventures that come out of any of the 12 constituent USM institutions, its research parks, and its students, faculty, or graduates. With a $16 million commitment from the USM, the Fund co-invests alongside venture capitalists, foundations, and angel investors.

The Maryland Momentum Fund was established by the USM Board of Regents to support promising commercial opportunities arising from advances in research and intellectual property at USM campuses. The Fund is designed to create returns and support USM's most innovative ideas as they enter the marketplace. Learn more about the Fund and view the portfolio companies at https://momentum.usmd.edu/.

About UM Ventures
UM Ventures is a joint initiative of the MPowering the State Program, bringing the University of Maryland, Baltimore and University of Maryland, College Park together to commercialize discoveries and create economic impact.
Launched in 2012 by the University System of Maryland Board of Regents and the Governor of Maryland, University of Maryland Ventures (UM Ventures) is accelerating technology commercialization and advancing industry collaboration by integrating the entrepreneurial programs of the University of Maryland, Baltimore and College Park.

The University System of Maryland (USM) is the state's public higher education system: 12 universities and three regional higher education centers working together for the good of Maryland. Our universities enroll 175,000 students and award 45,000 degrees each year - delivering accessible, affordable, excellent education to diverse learners at every stage of life and supporting thriving careers and a skilled workforce. With more than $1.8 billion in research expenditures, our universities make discoveries that drive innovation, spur economic growth, and improve life in Maryland and worldwide. For more information, visit usmd.edu.