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LanzaTech scores $60m Series D

26 Mar 2014

nuclear cooling towers powerMitsui & Co and Siemens’ venture capital vehicle CICC Growth Capital Fund I have led a $60m Series D funding round for carbon capture and utilization technology company LanzaTech.

Existing backers Khosla Ventures, Qiming Venture Partners, K1W1 and the Malaysian Life Sciences Capital Fund also participated in the round.

LanzaTech’s technology provides an alternative to traditional carbon capture and storage. Waste gas streams captured from industrial factories can be directly converted by to low-carbon liquid fuels and chemicals by adding a LanzaTech facility at the source.

This could reduce global CO2 levels while accessing multi-billion dollar commodities markets, said the company.

Khosla partner Andrew Chung said, “LanzaTech’s unique ability to reduce or eliminate the release of waste gases like CO and CO2 has dramatic consequences on the global fight against air pollution — it meets a survival-driven need for places like China and India.”

The round follows LanzaTech’s $55.8m Series C, which was led by theMalaysian Life Sciences Capital Fund in January 2012.

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