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Mitsui Leads Investment in LanzaTech’s $60M Series D Round  

Wednesday, March 26, 2014

New investors include Siemens Venture Capital and CICC Growth Capital Fund I, L.P.

(Roselle, IL) – LanzaTech, a company changing the way the world thinks about waste carbon, has attracted new strategic investors in key target markets. LanzaTech’s disruptive carbon capture and utilization technology provides a capital-efficient and cost-effective alternative to traditional carbon capture and storage (CCS). Waste gas streams captured from industrial factories can be directly converted on-site to low-carbon liquid fuels and chemicals by adding a LanzaTech facility at the source, offering the potential to reduce global CO2 levels while accessing multi-billion dollar commodities markets.

“In a tough capital raising market I am proud that we’ve attracted funding from both existing and new investors, including several of our strategic partners,” said Jennifer Holmgren, CEO of LanzaTech. “The funding validates the confidence our investors have in us, the strength of our technology, the quality of our partnerships and the opportunity to make a big impact on the global fuels and chemicals markets through capturing and reusing carbon.”

LanzaTech’s gas fermentation platform disrupts the current highly centralized global energy system by enabling the regional production of low-cost energy from local wastes and residues, including gases as varied as industrial flue gas, gasified biomass wastes and residues, biogas, and high-CO2 stranded natural gas.

LanzaTech’s flexible approach has attracted global partners and investors from a variety of sectors who recognize the need to bring a stable and plentiful energy supply to a global population in an economically, socially and environmentally conscious manner. LanzaTech’s first commercial facility, fully financed by BaoSteel, one of the largest steel manufacturers in China, is expected to be operational in 2015 and will use steel mill off gases to produce fuels and chemicals.

Led by Mitsui & Co. with a $20M investment, the $60M round includes new investors Siemens via its Venture Capital unit (SFS VC), CICC Growth Capital Fund I, L.P. and existing investors: Khosla Ventures, Qiming Venture Partners, K1W1 and the Malaysian Life Sciences Capital Fund.

The investment will be used to extend LanzaTech’s core gas fermentation platform and further develop LanzaTech’s product portfolio. To date, products include fuels such as ethanol or jet fuel and commodity chemicals such as butadiene used in nylon production or propylene used in plastics manufacture.

“LanzaTech’s unique ability to reduce or eliminate the release of waste gases like CO and CO2 has dramatic consequences on the global fight against air pollution – it meets a survival-driven need for places like China and India,” said Andrew Chung, a partner at Khosla Ventures who serves on the board of LanzaTech. “LanzaTech offers an effective and capital efficient carbon capture and reuse solution, which is why we have been able to fund commercialization via major industrial partners. It’s cleantech done right.”

“LanzaTech demonstrates that the combination of cutting-edge technology and an outstanding executive team can raise money in the most difficult of fundraising markets,” added Gary E. Rieschel, the Founding Managing Partner of Qiming Venture Partners.

“LanzaTech is pioneering new technologies that are changing the energy landscape as we know it,” said Jim Messina of The Messina Group, who serves on the board of LanzaTech. “Their limitless growth potential and the potential positive impact on our environment are just two of the many reasons investors are excited to be a part of this growing company.”

“I believe that green growth companies like LanzaTech hold the key to our future,” said Sir Stephen Tindall, of K1W1 an investor in LanzaTech. “LanzaTech’s innovative solution provides good financial return as well as environmental benefits. Truly a triple bottom line solution.”

“We are pleased to have the opportunity to further deepen the partnership between LanzaTech and Siemens Metals Technologies,” said Karl Purkarthofer, Chief Strategist Siemens Metals Technologies. “With this unique technology our customers will be able to reduce their ecological impact while also receiving an economic benefit. This investment proves our strong commitment in innovation and further strengthens our leading position as a technological front runner in green solutions for the metals industry.”

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