LanzaTech Global Inc - LNZAW STOCK NEWS

Haffner Energy, LanzaTech, and LanzaJet have announced a strategic partnership to explore joint biomass-to-Sustainable Aviation Fuel (SAF) projects. The collaboration aims to develop commercial plants, pursue joint technology licenses, and explore offtake opportunities.

The partnership combines Haffner Energy's biomass-to-syngas technology, LanzaTech's syngas-to-ethanol expertise, and LanzaJet's Alcohol-to-Jet (ATJ) technology. This integration creates a complete production value chain for SAF from various biomass residues. LanzaJet and LanzaTech's joint product, CirculAir™, will utilize Haffner Energy's biomass-agnostic technology to expand SAF production capabilities.

LanzaJet, backed by major aviation industry players and recently named to the TIME100 Most Influential Companies list, opened the world's first commercial-scale ATJ plant in 2024. The collaboration aims to develop multiple profitable projects, focusing on utilizing agricultural and municipal waste for sustainable aviation fuel production.

LanzaTech Global (NASDAQ: LNZA) has appointed Reyad Fezzani, Chairman and CEO of Regenerate Power , to its Board of Directors. Fezzani brings over 30 years of experience in global energy markets and renewable energy innovation, including a 20-year tenure at BP where he served as CEO of the company's global chemicals and renewable energy businesses.

The appointment expands LanzaTech's Board to eight members and aims to leverage Fezzani's expertise in large-scale project development as the company scales its carbon management technologies. His experience is expected to be particularly valuable for LanzaTech's Power-to-X projects and the CirculAir waste-to-SAF solution launched in 2024 with LanzaJet.

Fezzani currently serves as a director at Carbon Collect and as Lead Independent Director at Woodard & Curran. His previous roles include chairmanships at Tata BP Solar India and various renewable energy companies.

LanzaTech (NASDAQ: LNZA) announced two major strategic moves: the formation of LanzaX, a spin-out joint venture with Tharsis Capital focused on synthetic biology, and the appointment of Justin Pugh as Interim CFO.

The LanzaX spin-out will focus on the company's synthetic biology and strain engineering platform, including a portfolio of over 100 demonstrated molecules and existing synbio contracts. This strategic move is expected to reduce costs by approximately $8 million annually through the transfer of over 30 full-time employees to LanzaX, with full benefits realized by 2026.

Justin Pugh, who brings 15 years of experience in finance and holds CFA, CPA, and ABV designations, succeeds Geoff Trukenbrod as CFO. His primary focus will be implementing strategic cost reductions and optimizing resources for sustainable aviation fuel (SAF) production using ethanol as feedstock.

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%.

LanzaTech (NASDAQ: LNZA) and ArcelorMittal announced a significant milestone at their Steelanol facility in Ghent, Belgium, where ethanol production has reached volumes supporting large-scale barge shipping. The facility, which began production in 2023, converts carbon-rich industrial emissions from blast furnaces into fuel-grade ethanol using LanzaTech's carbon recycling technology.

The first barge shipment has been transferred to LanzaTech and will be purified for CarbonSmart customers like Coty. The Steelanol plant has an annual production capacity of 80 million litres of advanced ethanol, representing about half of Belgium's current demand. The facility is expected to reduce carbon emissions by 125,000 tonnes annually, supporting the EU's goal to reduce greenhouse gas emissions by 55% by 2030.

LanzaTech Global (NASDAQ: LNZA) has appointed Thierry Pilenko, former Executive Chairman of TechnipFMC, to its Board of Directors. With over 40 years of experience in energy and industrial sectors, Pilenko brings expertise in large-scale infrastructure development and technology deployment. His appointment increases the board to seven members. During his career at TechnipFMC and Technip, Pilenko led global teams across 45 countries, overseeing major projects including Shell's $12 billion Prelude floating LNG facility and the $20+ billion Yamal LNG project. He currently serves on the boards of Arkema and Trident Energy, and chairs Rely, a green hydrogen joint venture.

LanzaTech Global (NASDAQ: LNZA), a carbon recycling company focused on transforming waste carbon into sustainable fuels, chemicals, materials, and protein, has announced its management team's participation in upcoming investor events. The company will attend Baird's Global Industrial Conference in Chicago on November 14, 2024, and Janney's Clean Energy Investment Symposium in New Orleans on December 4-5, 2024. Investors can access the company's latest materials at their investor relations website.

LanzaTech (NASDAQ: LNZA) reported Q3 2024 financial results with revenue of $9.9 million, down from $19.6 million in Q3 2023. The company announced a significant ethanol off-take agreement with ArcelorMittal and advanced Project Drake, a 30-million-gallon sustainable aviation fuel project. Q3 net loss widened to $57.4 million from $25.3 million year-over-year, while Adjusted EBITDA loss increased to $27.1 million. The company is expanding its business model beyond technology licensing to include more ethanol product sales and increased biorefining value chain ownership. Cash position stood at $89.1 million as of September 30, 2024.

LanzaTech Global (NASDAQ: LNZA) announced plans to develop a commercial-scale Carbon Capture and Utilization facility at Herøya Industrial Park in Porsgrunn, Norway, expected to begin operations in 2028. The plant will produce 24 kilotons per annum of fuel-grade ethanol using furnace gas supplied by Eramet's Porsgrunn Manganese Alloys smelter. The project includes potential integration of Carbon Capture and Storage (CCS) technology in a second phase, creating a first-of-its-kind integrated facility. Brookfield Asset Management will have right of first refusal for financing, with Final Investment Decision expected within six months.