US Carbon Capture Firm LanzaTech Goes Public
LanzaTech Global, Inc. or “LanzaTech”, formerly known as AMCI Acquisition, starts trading its stock today on Nasdaq with the LNZA and LNZAW tickers.
Chicago-based LanzaTech is an innovative carbon capture and transformation (CCT) company that converts waste carbon into materials like fabrics, packaging, and other products that people use in th eir daily lives. It will be the first US carbon capture company that goes public.
Chairwoman and CEO of LanzaTech, Jennifer Holmgren, stated:
“Today marks a tremendous milestone in our company’s journey, as the first shares of LanzaTech common stock will trade on Nasdaq… We are thrilled to complete this transaction, and begin this new chapter in the company’s history as we transition to a public company. The proceeds enabled by this transaction… provide a significant runway for us to drive shareholder value and execute on our mission of providing equal access to a post pollution future for all.”
A combination between LanzaTech and AMCI Acquisition brings the public company its $240 million in proceeds that will help expand its innovative CCT technology not just in the US but around the world.
Holmgren further said that this historical event can ultimately lead to the creation of the circular carbon economy.
The Tech for Circular Carbon Economy
The CCT company’s gas fermentation technology is meant to offer a solution to abate the significant carbon emitted by heavy industry and manufacturing. LanzaTech will be able to support their decarbonization efforts.
LanzaTech’s goal is to change the way the world uses carbon. It inspires a new circular carbon economy in which CO2 is not wasted but reused. How this happens in LanzaTech is shown in the video.
Its commercially scalable CCT tech can both help manufacturing firms and end users cut their carbon emissions in a profitable way. Product users can replace materials made from virgin fossils with the ones made from LanzaTech’s recycled carbon. The company calls it their CarbonSmart product, making a ton of it removes two tons of CO2.
More remarkably, LanzaTech can also help industries comply with their emissions reduction goals. The company helps pave the way to global net zero emissions.
LanzaTech Paving The Way to Net Zero
Since its founding in 2005, LanzaTech has managed to scale its proprietary bio-reactors used for making fuels and chemical production. The reactors use waste CO2 captured from industries as a feedstock.
To date, the CCT firm has three commercial production plants and 1,250+ patents for various aspects of its technology. This caught the eyes of major investors, partners, and customers. ArcelorMittal, Suncor Energy, Shell, and BASF are just some of those who believe in LanzaTech’s technology.
Add to that list the major airlines that are confident in adopting LanzaJet’s sustainable aviation fuel (SAF). For instance, British Airways, Virgin Atlantic, and All Nippon Airways are the key partners.
LanzaJet is a spin out company focusing on producing SAF using CO2 waste.
Using various waste feedstocks, LanzaTech’s CCT tech shows the possibility of moving away from fossil fuels. Most importantly, by licensing its patented tech to customers, the company also allows them to meet their net zero goals.
Its commercially viable technology can enable decarbonization in many of the world’s most carbon intensive industries.
LanzaTech’s Partnerships and Developments
LanzaTech has been making major strides in the carbon capture sector, commercially and technologically. And in just one year, it’s able to achieve several tech developments and big partnerships.
Some of its most notable developments in 2022 are as follows:
Partnership with Twelve to make ethanol from CO2. The deal eliminates using fossil fuels to create ethanol by converting CO2 to CO through Twelve’s carbon transformation technology.
Renewable propane deal with SHV Energy. The strategic partnership will use LanzaTech CCT tech to bring renewable propane and other sustainable fuels to the market.
Bridgestone partnership for end-of-life tire recycling technologies. Co-developing the first dedicated end-of-life tire recycling process using LanzaTech proprietary technology for a pathway toward tire material circularity.
Strategic partnership with Brookfield. The deal is worth an initial $500 million commitment from Brookfield Renewable and its partners to build new commercial-scale production plants that will use LanzaTech’s CCT technology.
Producing ethylene from CO2. A major discovery that successfully engineers specialized biocatalysts to directly produce ethylene from CO2 in a continuous process.
Declared as a Finalist for the Earthshot Prize Awards. The Earthshot Prize, the world’s most prestigious environmental prize, is courtesy of HRH Prince William. It follows a rigorous, 10-month selection process and a panel of expert advisors who chose LanzaTech from more than 1,000 nominations.
Shares of LanzaTech’s common stock will trade under the ticker symbol LNZA while its public warrants under the ticker symbol LNZAW.
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