LanzaTech increases share ownership of LanzaJet

LanzaTech increased its holdings of LanzaJet, a sustainable aviation fuel technology provider and fuels producer. This ownership increase is in accordance with a previously signed agreement which allows LanzaJet to further sublicense the Alcohol-to-Jet technology originally developed by LanzaTech, which enables the conversion of ethanol to sustainable aviation fuel, or “SAF”, in exchange for additional equity issued to LanzaTech. On June 18, LanzaTech received the first of what is anticipated to be a total of three tranches of LanzaJet common stock, which are projected in the aggregate to more than double the company’s ownership percentage in LanzaJet. This first issuance of common stock, which increases LanzaTech’s ownership in LanzaJet to approximately 36% from approximately 23%, is a result of LanzaJet’s signed license and engineering agreement with Jet Zero Australia. The second and third equity issuances are projected to bring LanzaTech’s ownership in LanzaJet to approximately 46% and 53%, respectively, over the next 12 to 18 months. LanzaTech and LanzaJet are actively collaborating on several projects whereby LanzaJet will take ethanol from LanzaTech’s proprietary waste-to-ethanol biorefining platform and convert it to drop-in SAF using its proprietary, ATJ technology.