LanzaTech Closes on $15M in Debt Financing from Western Technology Investment
LanzaTech, which closed a $55.8m Series C funding round earlier this year, will continue to invest in research and development program and to accelerate the commercialization of its integrated fuels and chemicals platform.
Led by CEO Jennifer Holmgren, LanzaTech has developed a novel biological process of carbon capture and reuse using proprietary biological microbes that can use a variety of waste gases as a nutrient source, including waste gases from industry, which would otherwise be flared as carbon dioxide (CO2). Operating outside the food value chain, the company LanzaTech can also use syngas generated from any biomass resource (such as municipal biowaste, organic industrial waste, and agricultural waste) and reformed natural gas.
LanzaTech is currently operating a pre-commercial facility in China using steel mill off gases for ethanol production. Full commercial operation is targeted for 2013.