Total amount raised
$1.3 Billions
Latest funding date
12/01/2024
Location
LanzaTech has successfully raised funding through multiple rounds, with notable investors including the U.S. Department of Energy Office of Electricity and the US Department of Energy. The company focuses on converting waste carbon into sustainable fuels, chemicals, and materials using innovative biological processes.
Keep reading to explore the intricacies of LanzaTech's fundraising journey and the investors backing this pioneering platform.
What Is LanzaTech?
LanzaTech, founded in 2005 by Richard Forster and Sean Simpson, is a pioneering company in the carbon recycling industry. Headquartered in Skokie, Illinois, the company employs between 251 and 500 people.
Specializing in converting waste carbon into sustainable fuels, chemicals, and materials, LanzaTech's innovative technology aims to reduce global CO2 emissions. Their approach involves capturing carbon-rich gases from industrial sources and transforming them into valuable products, contributing to a circular carbon economy.
How Much Funding Has LanzaTech Raised?
- Amount Raised: $72M
- Date: August 2019
- Lead Investors: Novo Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and further develop carbon recycling technology.
- Amount Raised: $4.1M
- Date: May 2021
- Lead Investors: ARPA-E
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support research and development in carbon recycling.
- Amount Raised: $30M
- Date: December 2021
- Lead Investors: ArcelorMittal
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the company's carbon recycling capabilities.
- Amount Raised: $500M
- Date: October 2022
- Lead Investors: Brookfield Renewable Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up production and expand market reach.
- Amount Raised: $31M
- Date: December 2022
- Lead Investors: UK Government
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the development of sustainable fuels and chemicals.
- Amount Raised: $1.6M
- Date: January 2023
- Lead Investors: US Department of Energy
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To advance carbon recycling technology.
- Amount Raised: $185M
- Date: February 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and enhance technological capabilities.
- Amount Raised: $40M
- Date: August 2024
- Lead Investors: Carbon Direct Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and commercialize carbon recycling technology.
- Amount Raised: $3M
- Date: October 2024
- Lead Investors: US Department of Energy
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support Project ADAPT, focusing on converting CO2 into sustainable chemicals.
- Amount Raised: $200M
- Date: December 2024
- Lead Investors: U.S. Department of Energy Office of Electricity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To advance carbon recycling technology and expand operations.
Total Amount Raised: $1.0667B. Current Valuation: Not publicly disclosed.
Key Investors
- U.S. Department of Energy Office of Electricity
- Details: A government agency focused on ensuring a resilient, reliable, and flexible electricity system in the United States.
- Investment Focus Areas: Electricity system resilience, reliability, flexibility.
- Notable Investments: Projects enhancing the electricity grid, renewable energy technologies.
- US Department of Energy
- Details: A federal department responsible for policies regarding energy and safety in handling nuclear material.
- Investment Focus Areas: Energy policies, renewable energy, safety in nuclear material handling.
- Notable Investments: Renewable energy projects, energy efficiency, advanced research in energy technologies.
- Brookfield Renewable Partners
- Details: A global leader in renewable power, operating one of the world’s largest publicly traded renewable power platforms.
- Investment Focus Areas: Renewable energy, hydroelectric power, wind energy, solar energy.
- Notable Investments: TerraForm Power, TerraForm Global, Isagen.
- ArcelorMittal
- Details: The world's leading steel and mining company, with a presence in more than 60 countries.
- Investment Focus Areas: Steel production, mining, renewable energy.
- Notable Investments: Cleveland-Cliffs, Gestamp, Baffinland Iron Mines.
- Carbon Direct Capital
- Details: An investment firm focused on carbon management and reduction technologies.
- Investment Focus Areas: Carbon capture, utilization, and storage (CCUS), renewable energy, sustainable technologies.
- Notable Investments: Carbon Clean Solutions, Svante, Climeworks.
What's Next for LanzaTech?
With a $3 million grant from the U.S. Department of Energy, LanzaTech is poised to transform CO2 into sustainable isopropanol, a chemical with a significant market potential. This opportunity aligns with global climate goals and could lead to substantial greenhouse gas savings, positioning LanzaTech at the forefront of carbon recycling technology.
As the demand for sustainable chemicals grows, LanzaTech may attract further investments from both government and private sectors. The success of Project ADAPT could open doors for additional grants and partnerships, enhancing their technological capabilities and market reach.
However, challenges remain. Optimizing microbial strains and ensuring cost-effective production are critical hurdles. Scaling up from pilot projects to commercial operations will require significant effort and resources. Yet, with the right support, LanzaTech could revolutionize the industry and contribute to a more sustainable future.
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