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LanzaTech Announces Fourth Quarter and Full Year 2023 Financial Results and Provides Full Year 2024 Financial Outlook

Retrieved on: 
Wednesday, February 28, 2024
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CHICAGO, Feb. 28, 2024 (GLOBE NEWSWIRE) -- LanzaTech Global, Inc. (Nasdaq: LNZA) (“LanzaTech” or the “Company”), the carbon recycling company transforming waste carbon into sustainable raw materials, today reported its financial and operating results for the fourth quarter and full year 2023.

Key Points: 
  • Fourth Quarter and Full Year 2023 Financial Results:
    In the fourth quarter of 2023, revenue totaled $20.5 million, reflecting an increase of 77% compared to $11.6 million in the fourth quarter of 2022.
  • Gross margin improved to 41% during the fourth quarter, reflecting certain engineering services work completed during the quarter which benefited from extraordinary pricing terms.
  • “However, our results for the fourth quarter and full year 2023 demonstrate we have a lot more work ahead of us.
  • Cash burn during the fourth quarter 2023 was $(15.4) million, continuing the trend over 2023 of reducing quarterly cash burn.

LANZAJET CELEBRATES GRAND OPENING OF FREEDOM PINES FUELS PLANT, THE WORLD'S FIRST ETHANOL TO SUSTAINABLE AVIATION FUEL PRODUCTION FACILITY GOVERNMENT, CORPORATE, AND COMMUNITY

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Wednesday, January 24, 2024
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SOPERTON, Ga., Jan. 24, 2024 /PRNewswire/ -- LanzaJet, a leading sustainable fuels technology company and sustainable fuels producer, today joined government officials, industry leaders, partners, and supporters to open LanzaJet Freedom Pines Fuels, the world's first ethanol to sustainable aviation fuel (SAF) production facility.

Key Points: 
  • SOPERTON, Ga., Jan. 24, 2024 /PRNewswire/ -- LanzaJet, a leading sustainable fuels technology company and sustainable fuels producer, today joined government officials, industry leaders, partners, and supporters to open LanzaJet Freedom Pines Fuels, the world's first ethanol to sustainable aviation fuel (SAF) production facility.
  • With its proprietary ethanol to SAF technology, LanzaJet Freedom Pines Fuels serves as a blueprint for utilizing first-of-its-kind innovation to scale SAF production and combat the worsening climate crisis.
  • "LanzaJet Freedom Pines Fuels is proof of the energy transition accelerating in real time," said Jennifer Holmgren, LanzaJet Board Director and Chief Executive of LanzaTech.
  • LanzaJet Freedom Pines Fuels is fully funded and has committed offtake agreements for all fuel produced in the next 10 years.

WHAT PEOPLE ARE SAYING ABOUT LANZAJET'S CONSTRUCTION MILESTONE AT FREEDOM PINES FUELS

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Wednesday, December 14, 2022
Carbon, Travel, Suncor Energy, Transport, Aviation biofuel, Mitsui & Co., Partnership, Nuclear energy, Friends, ATJ, Family, Believer, CO2, IAG, Investment, Government, SAF, Ethanol, Microsoft, Multimedia, Aviation, Freedom, Engineering, ANA, All Nippon Airways, Mitsui, Organization, Gasoline, Renewable energy, Management, Oil, Tel Zeton, EU

SOPERTON, Ga., Dec. 14, 2022 /PRNewswire/ -- LanzaJet, a leading sustainable fuels technology company and sustainable fuels producer, today joined government officials, industry leaders, and investors to celebrate a major construction milestone at the LanzaJet Freedom Pines Fuels facility in Soperton, Georgia. LanzaJet Freedom Pines Fuels is the world's first ethanol-based alcohol-to-jet sustainable aviation fuel (SAF) production plant. Construction will be completed in 2023 with commission and startup beginning next year. The plant will produce 10 million gallons of SAF and renewable diesel per year from ethanol, using a range of sustainable, low carbon intensity ethanol, including from waste-based feedstocks. LanzaJet Freedom Pines Fuels will approximately double the amount of current SAF production in the United States.

Key Points: 
  • SOPERTON, Ga., Dec. 14, 2022 /PRNewswire/ -- LanzaJet, a leading sustainable fuels technology company and sustainable fuels producer, today joined government officials, industry leaders, and investors to celebrate a major construction milestone at the LanzaJet Freedom Pines Fuels facility in Soperton, Georgia.
  • LanzaJet Freedom Pines Fuels is the world's first ethanol-based alcohol-to-jet sustainable aviation fuel (SAF) production plant.
  • LanzaJet Freedom Pines Fuels will approximately double the amount of current SAF production in the United States.
  • "This milestone in the LanzaJet Freedom Pines Fuels project marks an important step in LanzaJet's work to scale the development and deployment of high-quality sustainable fuels.

LANZAJET MARKS MAJOR MILESTONE ON ITS FREEDOM PINES FUELS CONSTRUCTION

Retrieved on: 
Tuesday, December 13, 2022
Travel, Shell, Pacific Northwest National Laboratory, USDA, Aircraft, International Airlines Group, Carbon, Aviation biofuel, Partnership, Federal Aviation Administration, Suncor Energy, Friends, Ministry of Energy, PNNL, ATJ, Family, Mitsui & Co., Breakthrough Energy, IAG, Government, Human, SAF, Ethanol, Multimedia, Aviation, DOE, Freedom, Inflation, ANA, All Nippon Airways, Deep Decarbonization Pathways Project, Climate change, FAA, Gasoline, Renewable energy

SOPERTON, Ga., Dec. 13, 2022 /PRNewswire/ -- LanzaJet, a leading sustainable fuels technology company and sustainable fuels producer, today joined government officials, industry leaders, and investors to celebrate a major constructiond milestone at the LanzaJet Freedom Pines Fuels facility in Soperton, Georgia. LanzaJet Freedom Pines Fuels is the world's first ethanol-based alcohol-to-jet sustainable aviation fuel (SAF) production plant. Construction will be completed in 2023 with commission and startup beginning next year. The plant will produce 10 million gallons of SAF and renewable diesel per year from ethanol, using a range of sustainable, low carbon intensity ethanol, including from waste-based feedstocks. LanzaJet Freedom Pines Fuels will approximately double the amount of current SAF production in the United States.

Key Points: 
  • SOPERTON, Ga., Dec. 13, 2022 /PRNewswire/ --LanzaJet, a leading sustainable fuels technology company and sustainable fuels producer, today joined government officials, industry leaders, and investors to celebrate a major constructiond milestone at the LanzaJet Freedom Pines Fuels facility in Soperton, Georgia.
  • LanzaJet Freedom Pines Fuels is the world's first ethanol-based alcohol-to-jet sustainable aviation fuel (SAF) production plant.
  • LanzaJet Freedom Pines Fuels will approximately double the amount of current SAF production in the United States.
  • LanzaJet Freedom Pines Fuels is expected to complete construction in 2023 and begin its commissioning and startup next year as well.

SOUTHWEST AIRLINES INVESTS IN SUSTAINABLE AVIATION FUEL PILOT PROJECT SUPPORTED BY THE DEPARTMENT OF ENERGY

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Wednesday, June 1, 2022
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DALLAS, June 1, 2022 /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) ("Southwest" or the "Company") today announces an investment into SAFFiRE Renewables, LLC (SAFFiRE), a company formed by D3MAX, LLC (D3MAX), as part of a Department of Energy (DOE)-backed project to develop and produce scalable, sustainable aviation fuel (SAF). Funded with a DOE grant matched by Southwest's investment, SAFFiRE is expected to utilize technology developed by the DOE's National Renewable Energy Laboratory (NREL) to convert corn stover, a widely available waste feedstock in the U.S., into renewable ethanol that then would be upgraded into SAF.

Key Points: 
  • "SAF is critical for decarbonizing the aviation sector," said Bob Jordan , Chief Executive Officer at Southwest.
  • The pilot project is intended to validate the commercialization of this corn-stover-to-ethanol technology, which could lead to a follow-up phase.
  • The renewable ethanol would then be upgraded into fully certified sustainable aviation fuel, utilizing alcohol-to-jet technology applied by prospective SAF producers.
  • Learn more at Southwest.com/citizenship about how Southwest Airlines leverages a unique legacy and mission to serve communities around the world.

LanzaJet takes a major step in further enabling the decarbonization of the aviation sector with the fabrication and construction of its first Alcohol-to-Jet biorefinery

Retrieved on: 
Tuesday, April 13, 2021

This modular approach enables LanzaJet to manage fabrication and construction in a controlled environment, closely monitor quality and performance, and conduct testing and many aspects of commissioning before final placement in Georgia.

Key Points: 
  • This modular approach enables LanzaJet to manage fabrication and construction in a controlled environment, closely monitor quality and performance, and conduct testing and many aspects of commissioning before final placement in Georgia.
  • With its approach to commercialization of SAF, LanzaJet is creating regional jobs while enabling global decarbonization of the aviation sector.
  • Zeton assists customers like LanzaJet in scaling up their process technology, a key step in bringing innovation to market.
  • With an integrated construction and design mindset, we offer full-service capabilities with more than 60 offices globally.

Shell Invests in LanzaJet to Further Accelerate the Global Commercialization of LanzaJet’s Leading Alcohol-to-Jet Technology to Address the Aviation Sector’s Urgent Need to Decarbonise

Retrieved on: 
Tuesday, April 6, 2021
Aviation fuels, Energy, Companies, Fuels, Energy economics, Biofuels, SAF, Suncor Energy, Jet fuel, Sustainable energy, Royal Dutch Shell, Aviation biofuel

LanzaJet, Inc. , a leading sustainable fuels technology company and sustainable fuels producer, announced today that Shell joins as an investor in the company to advance LanzaJets global growth, accelerate commercialization of its technology, and scale the production of Sustainable Aviation Fuel (SAF).

Key Points: 
  • LanzaJet, Inc. , a leading sustainable fuels technology company and sustainable fuels producer, announced today that Shell joins as an investor in the company to advance LanzaJets global growth, accelerate commercialization of its technology, and scale the production of Sustainable Aviation Fuel (SAF).
  • With the right policies to support the uptake and production of SAF, aviation can achieve net-zero emissions.
  • "LanzaJet's technology opens up a new and exciting pathway to produce SAF using an AtJ process and will help address the aviation sector's urgent need for SAF.
  • Shell joins other LanzaJet investors including LanzaTech, Suncor Energy Inc., Mitsui & Co., Ltd., and British Airways, along with participation in LanzaJet by All Nippon Airways (ANA).