LanzaTech raises $US55m as Malaysian oil money flows in
NZ clean energy company now raised $US85m.
New Zealand clean technology company LanzaTech says it has has closed its Series C round with new investment totaling $US55.8 million led by the Malaysian Life Sciences Capital Fund.
New investors include Petronas Technology Ventures, the investment arm of Malaysia's state-owned oil company, and Dialog Group, a Malaysian integrated specialist technical services provider to the oil, gas and petrochemical industry. Existing investors Khosla Ventures, Qiming Venture Partners and NBR Rich Lister Sir Stephen Tindall's K1W1 also participated in the round.
To date, the company has raised more than $US85 million, it said in a statement this morning.
Dr. Jennifer Holmgren, the US-based chief executive of LanzaTech, said this funding will accelerate the development of next generation integrated biorefineries using the LanzaTech technology platform for the production of sustainable low carbon chemicals as well as fuels.
LanzaTech uses a proprietary fermentation process to convert gases (including industrial waste gases and gas derived from any biomass source) into fuels and chemicals.
NBR staff
Tue, 24 Jan 2012
Tue, 24 Jan 2012
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LanzaTech raises $US55m as Malaysian oil money flows in
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