LanzaJet announces the first close of an overall $135 million target equity investment round
In Illinois, LanzaJet announced the first close of an overall $135 million target equity investment round, at a $650 million pre-money enterprise valuation.
The round is co-led by IAG and Shell, with participation from Groupe ADP, LanzaTech, and Mitsui – all existing shareholders who are expanding their investment in LanzaJet’s growth and operations at LanzaJet Freedom Pines Fuels in Soperton, Georgia, the world’s first fully integrated, commercial-scale ethanol-to-fuels plant.
The financing will support existing and future commercial deployments of its ATJ technology, the firm said.
As part of this funding round, LanzaJet is entering into an innovative multi-year tolling structure at its LanzaJet Freedom Pines Fuels facility. Under the tolling agreements, LanzaJet will use a low carbon, waste-based ethanol produced domestically in the U.S., along with renewable natural gas from a regional plant, to produce low carbon SAF and renewable diesel fuel. The tolling structure provides LanzaJet with secured feedstock supply and guaranteed offtake of all production at the plant, the firm said.
Category: SAF
