LanzaTech NZ Ltd., a closely held developer of transport fuels and chemicals from waste gases, plans to start raising $60 million to $80 million from venture capital and strategic investors this year to develop technology.
The company is developing projects with Baosteel Group Corp. and Shougang Group in China to use emissions from their steel mills to make ethanol for vehicles, said Jennifer Holmgren, chief executive officer of the Auckland, New Zealand-based company. Holmgren will consider an initial share sale once a plant is running, probably in 2015, she said.
Tags: pollution, steel mills, gas converting, corn-based ethanol, jet fuel
Source: Bloomberg, 2013-03-12.