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LanzaJet raises USD 20 million in venture funding
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May 16, 2024
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Alternative Energy

Alternative Energy

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May 16, 2024

LanzaJet raises USD 20 million in venture funding

Funding

  • LanzaJet, a LanzaTech spinoff that produces sustainable aviation fuel (SAF) using low-carbon ethanol, has secured a USD 20 million investment from Groupe ADP, a French airport operator.

  • The funds raised will expand LanzaJet's capacity and ability to deploy its SAF technology globally.

  • Analyst QuickTake: This investment follows an undisclosed investment from Microsoft's Climate Innovation Fund in April 2024 and a USD 30 million investment from Southwest Airlines in February 2024 . The company also unveiled the world's first commercial-scale ethanol-to-SAF plant, the LanzaJet Freedom Pines Fuels plant, in January 2024 . The company, which has a unique ethanol-based alcohol-to-jet (ATJ) technology, aims to produce 1 billion gallons of SAF by 2030.

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