LanzaTech, a developer of gas fermentation technology, has raised $60 million in a Series D funding round led by a $20 million investment from Mitsui & Co. Additional round participants include new investors Siemens and China International Capital Corporation, as well as existing investors Khosla Ventures, Qiming Venture Partners, K1W1 and Malaysian Life Sciences Capital Fund (MLSCF). With the company's carbon capture and utilization technology, waste gas streams captured from industrial factories can be directly converted on-site to low-carbon liquid fuels and chemicals, offering the potential to reduce global CO2 levels while accessing multi-billion dollar commodities markets.
The investment will extend LanzaTech's core gas fermentation platform and further develop its product portfolio. To date, products include fuels like ethanol or jet fuel and commodity chemicals like butadiene (used in nylon production) or propylene (used in plastics manufacturing). LanzaTech has received a number of VC financings since its 2005 founding, including a 2012 $56 million Series C round led by MLSCF.
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