LanzaTech

LanzaTech was founded in 2005 by Dr. Sean Simpson and Dr. Richard Forster. LanzaTech is commercializing an industrial biotechnology platform for converting carbon monoxide to valuable chemicals, such as ethanol, with acetogenic microbes. LanzaTech has pursued a bolt-on commercialization strategy that utilizes industrial emissions from certain industries with highly concentrated flue gases, such as steelmaking. Originally founded in New Zealand, the company is now headquartered in Skokie, Illinois, United States and maintains additional offices in Shanghai, China and Gurgaon, India.

LanzaTech operates through providing its clients with the mechanism to convert waste emissions into utilizable chemicals. Since LanzaTech do not operate production facilities on its own, the company enters joint-venture agreements with manufacturers such as the China-based Shougang Group and the Indian Oil Corporation. The company has developed proof of concept for producing 20 different chemicals and several fuels, including drop-in jet fuel, from carbon monoxide and carbon dioxide. These chemicals are sold under the name Carbon Smart. Several industries have used LanzaTech’s products, including the aviation industry. Some airlines which are using LanzaTech manufactured jet fuels are Virgin Atlantic, Boeing and All Nippon Airways.

With its last funding round, a Series D, held in 2014, LanzaTech managed to raise a total capital of $203.4 million. The company first received $100,000 in external funding from Biodiscovery, a New-Zealand based company on 2006. Investors who have financed LanzaTech in the past were CICC, Malaysian Life Sciences Capital Fund, NZ Super Fund, and Khosla Ventures.