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Lanzatech Expands With Further $72m Investment
  America

 August 7, 2019

Novo Holdings is making a $72 million investment in the company in a Series E financing, and Senior Director Anders Bendsen Spohr will join LanzaTech's Board of Directors.

The investment will expand LanzaTech's carbon recycling platform and enable LanzaTech to accelerate the commercialization of Carbon Smart™ products allowing consumers to choose where the carbon in their products comes from, recycled carbon or fossil carbon.

Novo Holdings said it is increasing its focus on investing in market-leading bio-industrial companies with the ability to have a long-term sustainable impact on society through innovative technologies.

LanzaTech's platform takes pollution and recycles it, eliminating single-use carbon. Examples of the uses of the technology include taking steel mill emissions in China and unsorted, unrecyclable household waste in Japan and converting these wastes to ethanol, sustainable aviation fuel or polyethylene for consumer goods. When a product has reached the end of its useful life, it can go unsorted and uncleaned to a LanzaTech facility and be recycled repeatedly without losing any of the properties of the original material. This locks carbon into a cycle and supports a transition to a circular economy.

Anders Bendsen Spohr, Senior Director at Novo Holdings, says: "LanzaTech is addressing our collective need for sustainable fuels and materials, enabling industrial players to be part of building a truly circular economy. Novo Holdings' investment underlines our commitment to supporting the bio-industrials sector and, in particular, companies that are developing cutting-edge technology platforms. We are excited to work with the LanzaTech team and look forward to supporting the company in its next phase of growth." (Carbon Capture Journal)

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