LanzaJet, a LanzaTech spinoff that produces sustainable aviation fuel (SAF) using low-carbon ethanol, has received an undisclosed investment from Microsoft's Climate Innovation Fund. This is the second investment from the fund, following a USD 50 million project financing in 2022 to support the construction of LanzaJet's Freedom Pines Fuels production plant, which opened in January 2024 .

The company intends to use the funds to continue developing its ability to deploy its SAF technology globally. The two companies also intend to explore using Microsoft’s AI capabilities to improve LanzaJet's corporate functions and ethanol-to-SAF technology.

Analyst QuickTake: In February 2024 , LanzaJet received a USD 30 million investment from Southwest Airlines. The two companies also agreed to work together to develop a SAF production facility. LanzaJet is also supporting the commercialization of SAFFiRE Renewables’ corn stover to ethanol technology, a company Southwest has invested in.