February 10, 2023 will be a landmark date for the carbon capture industry. LanzaTech Global is set to become the first public US carbon capture company and will start trading its stock on the Nasdaq with the LNZA and LNZAW tickers.
The company’s technology variations can convert waste carbon dioxide into materials like sustainable fuels, fabrics, packaging and other products that people use in their daily lives.
“We are thrilled to complete this transaction, partnering with Nimesh Patel and the AMCI team and take the next steps towards accelerating the wide-spread deployment of our commercially scaled, CCT technology and ultimately the development of the circular carbon economy our world needs.” said Jennifer Holmgren, Chairwoman and CEO of LanzaTech.
A combination between AMCI Acquisition Corp. II and LanzaTech NZ, Inc., the public company’s $240 million in proceeds will help expand its innovative carbon capture and transformation (CCT) business both in the US and globally.
The company was founded in 2005 and has managed to scale its proprietary bio-reactor technology that uses CO2 as a feedstock for its fuel and chemical production processes. It has three production plants and owns 1,250 patents that investors could see as a stable moat going forward.
LanzaTech’s gas fermentation technology seems to have profitability built in and has a significant addressable market. From the emission heavy industries to manufacturing, LanzaTech will be able to support efforts for decarbonization and meeting ESG targets.
This is evidenced by the many existing partnerships from global industry leaders like BASF, Suncor, Shell and ArcelorMittal.
Many of these companies, alongside accredited investors and institutional buyers like K1W1, Khosla Ventures, NZ Super Fund, Oxy Low Carbon Ventures LLC, Primetals, SHV Energy and Trafigura have invested at the pre-listing stage.
The production of sustainable aviation fuel (operated through LanzaJet Inc) has also been identified as a growth area. Partnerships with British Airways, Virgin Atlantic and All Nippon Airways, have proven the interest of the industry and validated the technology in real-world conditions.