Market-leading carbon capture and transformation firm LanzaTech has signed a merger agreement with AMCI Acquisition Corp. II (“AMCI”) (Nasdaq: AMCI), and the combined company is set to go public.
LanzaTech has become a global leader in transforming waste CO2 into useful materials and high-value products through well-known, blue-chip companies around the world.
Some of its partners, investors and customers include such industry majors as Coty, BASF, Virgin Atlantic, ArcelorMittal, Sinopec, K1W1, and many others.
The carbon capture and transformation (CCT) firm uses a combination of engineering and synthetic biology to upcycle carbon dioxide, and the results of its operations now represent an over $1 trillion market opportunity.
Among LanzaTech’s top products are fabrics, perfumes and sustainable fuels, as well as various packaging materials that find applications in people’s daily lives.
In fact, the company’s sustainable fuels proved so successful that in 20202 they led to a separate spinoff, dedicated entirely to sustainable jet fuel – LanzaJet, which attracted investments from giants like Shell, British Airways and the Microsoft Climate Innovation Fund.
And as decarbonization efforts pick up across different industries, LanzaTech’s solutions are expected to be used increasingly, thus providing a lucrative pathway for businesses to meeting climate goals.
What to expect after LanzaTech goes public
AMCI Acquisition Corp. II, in turn, is a new blank check company created exclusively for the purpose of facilitating the merger and reducing the carbon footprint of the global energy mix.
Once the merger closes, which is expected to happen in Q3 2022, the combined company will be traded on Nasdaq under the ticker symbol “LNZA”.
In exchange for their LanzaTech shares, all of the company’s stockholders will exchange 100% of their equity holdings into stock of the new public company.
Read more: ArcelorMittal Invests $30M In LanzaTech