Carbon recycler LanzaTech continues to hold investor interest, closing a $500 million funding deal from Brookfield Renewable. The clean tech company is active in the beauty industry, collaborating with Givaudan and Coty to develop high-purity sustainable ethanol suitable for use in fragrances.
WHO: Illinois-based LanzaTech harnesses the power of biology and big data to create climate-safe materials and fuels. With expertise in synthetic biology, bioinformatics, artificial intelligence, and machine learning coupled with engineering, LanzaTech has created a platform that converts waste carbon into new everyday products that would otherwise come from virgin fossil resources. LanzaTech's first two commercial-scale gas fermentation plants have produced over 30 million gallons of ethanol, which is the equivalent of offsetting the release of over 150,000 metric tons of CO2 into the atmosphere. Additional plants are under construction globally.
Brookfield Renewable operates one of the world's largest publicly traded, pure-play renewable power platforms. Its portfolio consists of hydroelectric, wind, solar, and storage facilities in North America, South America, Europe, and Asia.
IN THEIR OWN WORDS: "LanzaTech's technology provides a new way to decarbonize hard-to-abate sectors across the economy," said Natalie Adomait, Managing Partner and Chief Investment Officer of Brookfield Global Transition Fund (BGTF). "We view this as an attractive opportunity to accelerate deployment of this technology at scale and be a partner to grow in an emerging area of infrastructure in a decarbonized economy."
"Creating a new carbon economy will require new ways of financing technology scale up and deployment," said Jennifer Holmgren, CEO of LanzaTech. "We are excited to partner with Brookfield to accelerate deployment and achieve exponential growth. Together, we have the potential to target significant commodity markets and keep fossil resources in the ground. Each additional plant deployed has the potential to keep the equivalent of around 100,000 tons of carbon from the atmosphere each year. This is the new carbon economy in action!"
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