Biofuels Maker Lanzatech Raises $56 Million

LanzaTech, which makes biofuels and chemicals from industrial waste gases, closed a $55.8 million Series C round.

Using microbes, Lanzatech uses a proprietary fermentation process that converts industrial waste gases to fuels and chemicals. It was founded in 2005 in New Zealand and now has its headquarters in Illinois.

The fundraising round, led by the Malaysian Life Sciences Capital Fund, brings Lanzatech’s total raised to $85 million. Existing investors Khosla Ventures, Qiming Venture Partners and K1W1 participated. New investors include PETRONAS       Technology Ventures, the venture arm of PETRONAS, Malaysia’s national oil company, and Dialog Group, a  technical services provider to the oil, gas and petrochemical industry there. 

In the US, LanzaTech is working with the US Dept of Energy,  Department of Defense (DARPA) and the Federal Aviation       Administration to adapt its technology to produce aviation fuels for commercial and military use. It’s also building a plant in Georgia to make biofuels and chemicals from regionally sourced waste wood.

A demonstration plant in China will begin producing biofuels later this year. It will convert waste flue gas from China’s largest steel manufacture into ethanol. The company is also working with China’s fourth largest steel company on a similar project.   

In India, LanzaTech is working with Indian Oil and Jindal Power and Steel on a similar facility, as well as partnering with Concord Blue to convert municipal solid waste into ethanol throughout India {Editors Note it would be better to recycle that waste into new products}.         

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