LanzaTech Global, Inc. - LNZA STOCK NEWS

LanzaTech and LanzaJet have launched CirculAir™, a breakthrough technology to convert waste, carbon, and renewable power into sustainable aviation fuel (SAF). This end-to-end solution leverages LanzaTech's gas fermentation technology and LanzaJet's Alcohol-to-Jet (ATJ) technology to produce SAF from ethanol. The new offering is expected to significantly reduce aviation emissions by at least 85%, and its widespread adoption is projected to lower the global cost of SAF. CirculAir can process a wide range of waste materials, and projects are already underway globally, including in Australia, New Zealand, the UAE, and the UK.

LanzaTech Global announced an increase in its ownership of LanzaJet from approximately 23% to around 36%. This increase comes as part of a previously signed agreement that allows LanzaJet to sublicense its Alcohol-to-Jet (ATJ) technology for converting ethanol to sustainable aviation fuel (SAF). This ownership change is tied to a new project with Jet Zero Australia, aiming to establish Australia's first ethanol-to-SAF plant. LanzaJet's reference plant, Freedom Pines Fuels in Georgia, serves as a model for this project. The agreement is expected to increase LanzaTech's stake in LanzaJet to 46% and eventually 53% over the next 12 to 18 months. This collaboration is part of a larger effort to scale global SAF deployment, with the potential to significantly reduce aviation emissions by at least 85%. LanzaTech views this transaction as a key step toward commercialization, promising value creation for its shareholders.

LanzaTech Global, a leading carbon recycling company, announces its participation in three key investor events in June 2024. The management team will present at Evercore ISI’s Global Clean Energy & Transition Technologies Summit on June 12 in New York City, J.P. Morgan’s Energy, Power & Renewables Conference on June 17-18 in New York City, and Roth’s London Conference from June 25-27 in London. These events provide opportunities for LanzaTech to showcase its innovative solutions for transforming waste carbon into sustainable raw materials and feedstocks for aviation fuel.

LanzaTech Global (NASDAQ: LNZA) has appointed Kate Walsh as Vice President of Investor Relations, effective May 20, 2024. Walsh brings nearly 15 years of experience in investor relations and finance, primarily in the energy sector. She will drive LanzaTech's financial communications strategy and engage with investors and analysts. The company's CFO, Geoff Trukenbrod, highlighted that Walsh's expertise comes at a pivotal time as LanzaTech scales its carbon recycling solutions and expands its customer base and geographical reach. Walsh previously served in senior roles at Enviva, EnLink Midstream, and Niska Gas Storage Partners. She is a Chartered Professional Accountant and holds a Bachelor of Commerce degree from Dalhousie University.

LanzaTech reported total revenue of $10.2 million for the first quarter of 2024, matching annual guidance. They reiterated the full-year 2024 outlook with revenue expected to be $90 - $105 million. The company achieved impressive growth in its CarbonSmart and Joint Development Agreements businesses. LanzaTech's gross profit increased by 87% year-over-year, reaching $3.5 million, with a gross margin of 34%. Operating expenses declined by 14% year-over-year but increased quarter-on-quarter. The net loss for the first quarter was $(25.5) million. LanzaTech's Project SECURE received up to $200 million investment from the US Department of Energy. The company's Sustainable Aviation Fuel momentum is strong, with a new facility on track for production. LanzaTech's project development pipeline is expanding, adding new qualified projects. An organizational streamlining initiative is underway, aimed at reducing costs and improving efficiency. With $92.3 million in cash, restricted cash, and investments, LanzaTech is well-positioned to execute its objectives.

LanzaTech Global, Inc. (Nasdaq: LNZA) will release its first quarter 2024 financial results on May 9, 2024. The company will host a conference call to discuss the results, recent events, and conduct a Q&A session. The call can be accessed via a live webcast or teleconference. A replay will be available, and an archive of the webcast will be accessible on LanzaTech's website.

Technip Energies and LanzaTech Global, Inc. (LNZA) have been chosen by the U.S. Department of Energy for negotiations on a potential $200 million award under the Bipartisan Infrastructure Law and Inflation Reduction Act. The project aims to develop sustainable ethylene production technology from captured CO2, a significant step towards decarbonization in the chemicals industry.

LanzaTech Global, Inc. (LNZA) reported a total revenue of $20.5 million for the fourth quarter of 2023, a 77% increase over the same period in 2022. Full year 2024 revenue is projected to be between $90 million and $105 million. The company had cash, restricted cash, and investments of $121.4 million at year-end 2023, with a lower quarterly cash burn of $15.4 million for the fourth quarter of 2023.

LanzaTech Global, Inc. (LNZA) will release its Q4 and full-year 2023 financial results on February 28, 2024. The company will host a conference call to discuss the results, recent events, and conduct a Q&A session. The call can be accessed via webcast or teleconference.