to invest $85 million to back the first pilot and development-scale facilities that LanzaJet will be constructing. The first $25 million of the investment will be used to build a plant that can produce 10 million gallons of sustainable aviation fuel a year, as well as renewable diesel from sustainable ethanol sources.
In August the company raised $72 million from Novo Holdings to help LanzaTech expand its technology. Since the company's solutions can separate chemicals from commodity price fluctuations, it's enabling a new way of doing business. For instance, producers of synthetic fibers or plastics who want to use waste as a resource can now react quickly to market cycles when sourcing chemicals from a LanzaTech facility.
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