Technip Energies and LanzaTech Awarded Funding from the U.S. Department of Energy for Commercializing Breakthrough CO2 to Ethylene Technology
Technip Energies and LanzaTech (NASDAQ: LNZA) have secured up to $200 million in federal funding from the U.S. Department of Energy's Office of Clean Energy Demonstrations for their Project SECURE. The initiative aims to develop a commercial process that recycles captured CO2 from ethylene production with low-carbon hydrogen to create sustainable ethanol and ethylene.
The project's first phase has been awarded nearly $20 million to conduct Front-End Engineering Design studies, develop project plans, complete environmental reviews, and engage with community stakeholders. The technology will be initially deployed in the U.S. Gulf Coast region, with potential for worldwide implementation across approximately 370 ethylene steam crackers, of which Technip Energies' technology is used in over 40%.
Technip Energies e LanzaTech (NASDAQ: LNZA) hanno ricevuto fino a 200 milioni di dollari di finanziamenti federali dall'Ufficio delle Dimostrazioni di Energia Pulita del Dipartimento dell'Energia degli Stati Uniti per il loro Progetto SECURE. L'iniziativa mira a sviluppare un processo commerciale che ricicla il CO2 catturato dalla produzione di etilene con idrogeno a bassa emissione per creare etanolo e etilene sostenibili.
La prima fase del progetto ha ricevuto quasi 20 milioni di dollari per condurre studi di Progettazione Ingegneristica Front-End, sviluppare piani di progetto, completare le revisioni ambientali e coinvolgere gli stakeholder della comunità. La tecnologia sarà inizialmente impiegata nella regione della Costa del Golfo degli Stati Uniti, con potenzialità di implementazione mondiale in circa 370 cracker a vapore per etilene, di cui la tecnologia di Technip Energies è utilizzata in oltre il 40%.
Technip Energies y LanzaTech (NASDAQ: LNZA) han asegurado hasta 200 millones de dólares en financiamiento federal de la Oficina de Demostraciones de Energía Limpia del Departamento de Energía de EE. UU. para su Proyecto SECURE. La iniciativa tiene como objetivo desarrollar un proceso comercial que recicle el CO2 capturado de la producción de etileno con hidrógeno bajo en carbono para crear etanol y etileno sostenibles.
La primera fase del proyecto ha recibido casi 20 millones de dólares para llevar a cabo estudios de Diseño de Ingeniería de Front-End, desarrollar planes del proyecto, completar revisiones ambientales y participar con las partes interesadas de la comunidad. La tecnología se implementará inicialmente en la región del Golfo de EE. UU., con potencial para una implementación mundial en aproximadamente 370 crackers de etileno a vapor, de los cuales más del 40% utiliza la tecnología de Technip Energies.
Technip Energies와 LanzaTech (NASDAQ: LNZA)는 미국 에너지부의 청정 에너지 시연 사무소로부터 Project SECURE를 위해 최대 2억 달러의 연방 자금을 확보했습니다. 이 이니셔티브는 에틸렌 생산 과정에서 포집된 CO2를 저탄소 수소와 함께 재활용하여 지속 가능한 에탄올과 에틸렌을 생성하는 상업적 프로세스를 개발하는 것을 목표로 합니다.
프로젝트의 첫 번째 단계는 초기 엔지니어링 디자인 연구를 수행하고, 프로젝트 계획을 개발하며, 환경 검토를 완료하고, 지역 사회 이해 관계자와의 협력을 위해 거의 2천만 달러를 수여받았습니다. 이 기술은 처음에 미국 멕시코만 지역에 배치될 예정이며, 약 370개의 에틸렌 스팀 크래커에 전 세계적으로 구현될 가능성을 가지고 있으며, 이 중 Technip Energies의 기술이 40% 이상 사용됩니다.
Technip Energies et LanzaTech (NASDAQ: LNZA) ont obtenu jusqu'à 200 millions de dollars de financement fédéral du Bureau des démonstrations d'énergie propre du département américain de l'Énergie pour leur Projet SECURE. L'initiative vise à développer un processus commercial qui recycle le CO2 capturé lors de la production d'éthylène avec de l'hydrogène à faible émission de carbone pour créer de l'éthanol et de l'éthylène durables.
La première phase du projet a reçu près de 20 millions de dollars pour mener des études de conception d'ingénierie préalable, développer des plans de projet, compléter des examens environnementaux et engager les parties prenantes de la communauté. La technologie sera déployée initialement dans la région du golfe des États-Unis, avec un potentiel pour une mise en œuvre mondiale dans environ 370 crackers à vapeur d'éthylène, dont la technologie de Technip Energies est utilisée dans plus de 40 % des cas.
Technip Energies und LanzaTech (NASDAQ: LNZA) haben bis zu 200 Millionen US-Dollar an Bundesmitteln vom Büro für saubere Energiedemonstrationen des US-Energieministeriums für ihr Projekt SECURE gesichert. Das Vorhaben zielt darauf ab, einen kommerziellen Prozess zu entwickeln, der erfasstes CO2 aus der Ethylenproduktion mit kohlenstoffarmem Wasserstoff recycelt, um nachhaltigen Ethanol und Ethylen zu erzeugen.
Für die erste Phase des Projekts wurden fast 20 Millionen US-Dollar bereitgestellt, um Front-End-Engineering-Designstudien durchzuführen, Projektpläne zu entwickeln, Umweltprüfungen abzuschließen und mit den Stakeholdern der Gemeinschaft in Kontakt zu treten. Die Technologie wird zunächst in der Region des US-Golfes eingesetzt, mit dem Potenzial für eine weltweite Implementierung in etwa 370 Ethylen-Dampfreformern, von denen Technip Energies' Technologie in über 40 % verwendet wird.
- Secured up to $200 million in federal funding from DOE
- Initial $20 million awarded for Phase 1
- Technology applicable to 370 ethylene steam crackers globally
- Potential revenue stream from carbon recycling across multiple industries
- Project still in early engineering phase with no immediate revenue impact
- Implementation timeline and final costs not specified
- Subject to multiple phase reviews and approvals from OCED
Insights
This
The timing aligns perfectly with increasing pressure on petrochemical manufacturers to reduce emissions while meeting growing ethylene demand. Most significantly, this technology could transform CO2 from a liability into a valuable feedstock, potentially creating new revenue streams for ethylene producers while reducing carbon intensity. The focus on the Gulf Coast region, America's petrochemical hub, provides an ideal testing ground for commercial deployment.
This development carries significant investment implications for both LNZA and the broader clean tech sector. The DOE's substantial funding commitment validates LanzaTech's carbon recycling technology and demonstrates strong federal support for commercial-scale carbon utilization projects. The phased funding approach, starting with
The project's potential to create high-value products from waste carbon could establish a new paradigm in industrial decarbonization. With approximately 370 ethylene crackers globally, successful commercialization could unlock massive market opportunities. For investors, this represents a concrete step toward monetizing carbon capture technology, moving beyond theoretical carbon credits to actual product revenue. The partnership with Technip Energies, an established industry leader, adds important credibility and commercialization expertise.
CHICAGO, Dec. 18, 2024 (GLOBE NEWSWIRE) -- Technip Energies (PARIS:TE) and LanzaTech Global, Inc. (NASDAQ: LNZA) (“LanzaTech”) announced that the U.S. Department of Energy (DOE) Office of Clean Energy Demonstrations (OCED) has committed up to
Project SECURE, led by Technip Energies in partnership with LanzaTech, aims to provide an integrated commercial process which takes captured carbon dioxide from ethylene production and recycles it with low carbon intensity hydrogen to create sustainable ethanol and ethylene. This joint technology solution is intended to first be deployed in the U.S. Gulf Coast region for integration directly into an existing commercial ethylene cracker and has significant replication potential for ethylene crackers worldwide. Globally, there are approximately 370 ethylene steam crackers, over 40 percent of which use Technip Energies’ technology, including eight in the US.
LanzaTech’s carbon recycling technology, which has benefited from previous DOE support, can also be utilized in any industry with waste carbon, allowing other sectors to profit from capturing and recycling carbon-rich emissions into valuable ethanol, instead of sequestering or releasing them into the atmosphere.
OCED has committed up to
Arnaud Pieton, CEO at Technip Energies, stated “We are pleased to receive the Phase 1 award from the OCED and begin the engineering design work to progress the development of this innovative technology. The global population is expected to continue to rise by 2050, bringing with it a greater demand for consumer goods that rely on ethylene. While addressing this growing demand, we absolutely need to decarbonize ethylene production. We not only need to do something about carbon but very importantly with carbon. That is what our partnership with LanzaTech on this technology is all about. Leveraging our long-lasting leadership in ethylene, we are committed, together with LanzaTech, to develop this technology at scale and continue to explore ways to decarbonize ethylene production.”
Dr. Jennifer Holmgren, Chair and CEO of LanzaTech stated, “We are thrilled to reach this milestone and commence work on this important project. Ethylene is a key building block for thousands of chemicals and materials, and is often referred to as the world’s most important chemical. Our project not only increases the efficiency and value of existing ethylene production infrastructure, but also creates high-quality jobs and supports local communities. Circularizing our global carbon economy requires combining ambition with action, and we are grateful for the shared vision and support of the OCED to advance this replicable technology, strengthening our domestic manufacturing base for valuable commodities.”
OCED’s mission is to deliver clean energy demonstration projects at scale in partnership with the private sector to accelerate deployment, market adoption, and the equitable transition to a decarbonized system.
OCED will provide oversight of the project by evaluating the status and quality of implementation at each phase of the project. Through its phased approach to project management oversight, OCED will review and evaluate the project’s progress, including community benefits, which impact OCED’s decision to continue to provide federal funding and allow a project to progress to the following phase.
About Technip Energies
Technip Energies is a global technology and engineering powerhouse. With leadership positions in LNG, hydrogen, ethylene, sustainable chemistry, and CO2 management, we are contributing to the development of critical markets such as energy, energy derivatives, decarbonization, and circularity. Our complementary business segments, Technology, Products and Services (TPS) and Project Delivery, turn innovation into scalable and industrial reality.
Through collaboration and excellence in execution, our 17,000+ employees across 34 countries are fully committed to bridging prosperity with sustainability for a world designed to last.
Technip Energies generated revenues of
For further information: www.ten.com
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Technip Energies
| Investor Relations Phillip Lindsay Vice President Investor Relations Tel: +44 207 585 5051 Email: Phillip Lindsay | Media Relations Jason Hyonne Press Relations & Social Media Manager Tel: +33 1 47 78 22 89 Email: Jason Hyonne |
About LanzaTech
LanzaTech Global, Inc. (NASDAQ: LNZA) is the carbon recycling company transforming waste carbon into sustainable fuels, chemicals, materials, and protein for everyday products. Using its bio-recycling technology, LanzaTech captures carbon generated by energy-intensive industries at the source, preventing it from being emitted into the air. LanzaTech then gives that captured carbon a new life as a clean replacement for virgin fossil carbon in everything from household cleaners and clothing fibers to packaging and fuels. By partnering with companies across the global supply chain like ArcelorMittal, Coty, Craghoppers, REI, and LanzaJet, LanzaTech is paving the way for a circular carbon economy. For more information about LanzaTech, visit https://lanzatech.com.
LanzaTech Global, Inc.
Investor Relations
Kate Walsh
VP, Investor Relations & Tax
Investor.Relations@lanzatech.com
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Kit McDonnell
Director of Communications
press@lanzatech.com
Important Information for Investors and Securityholders
Forward-Looking Statements
This Press Release contains forward-looking statements that reflect Technip Energies’ and LanzaTech’s (the “Companies”) intentions, beliefs or current expectations and projections about the Companies’ future results of operations, anticipated revenues, earnings, cashflows, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Companies operate. Forward-looking statements are often identified by the words “believe”, “expect”, “anticipate”, “plan”, “intend”, “foresee”, “should”, “would”, “could”, “may”, “estimate”, “outlook”, and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on the Companies’ current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on the Companies. While the Companies believe that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Companies will be those that the Companies anticipate.
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For information regarding known material factors that could cause actual results to differ from projected results, please see Technip Energies’ risk factors set forth in Technip Energies’ 2023 Annual Financial Report filed on March 8, 2024 and in Technip Energies’ 2024 Half-Year Report filed on August 1, 2024, with the Dutch Autoriteit Financiële Markten (AFM) and the French Autorité des Marchés Financiers (AMF) which include a discussion of factors that could affect Technip Energies’ future performance and the markets in which the Company operates.
For information regarding LanzaTech’s risk factors that could cause actual results to differ from projected results, please see information contained in LanzaTech’s most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q, as well as other existing and future filings with the U.S. Securities and Exchange Commission.
Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. The Companies undertake no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.
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