L-theanine is a naturally occurring amino acid found almost exclusively in tea leaves. It crosses the blood-brain barrier and modulates alpha-wave activity, the same brain rhythm associated with a relaxed but alert state.
Most of the calm-without-drowsiness claims you read about come from studies pairing L-theanine with caffeine (which is why we dose 50 mg of caffeine and a small amount of L-theanine in RISE, but a higher 23 mg of theanine without caffeine in DRIFT).
The evening dose is intentionally modest. L-theanine does not put you to sleep, it softens the transition. The heavier sleep-onset work in a DRIFT can is handled by glycine. L-theanine just smooths the edges of the day.