The New Zealand (NZ) Superannuation Fund has made a $60-million equity investment in leading gas-fermentation company LanzaTech (Skokie, Ill.; www.lanzatech.com). Founded in New Zealand in 2005, and now headquartered in in the U.S., LanzaTech turns waste gas from steel mills into ethanol and other high-value fuels and chemicals.
“LanzaTech is one of the most exciting companies New Zealand has produced, with significant global potential,” said Nigel Gormly, NZ Super Fund Head of International Direct Investment. “We’re proud to continue the New Zealand connection and to be able to assist in LanzaTech’s ongoing growth.”
LanzaTech CEO Jennifer Holmgren said: “As we continue on our path to commercialisation, we are tremendously excited to include the NZ Super Fund as one of our investors. Our roots and hearts are in New Zealand, and this investment will allow us to expand and develop our global platform, increasing our ability to play a part in New Zealand’s energy future.”
Gormly said the Fund was also attracted to LanzaTech because of the exposure it provides to the waste-to-energy sector. “We are actively diversifying into alternative and non-conventional energy, alongside traditional energy investments.”
Welcoming the NZ Super Fund investment, Stephen Tindall, one of LanzaTech’s first investors, said: “LanzaTech has been highly successful and the NZ Super Fund’s investment is a key step in continuing the company’s progress and global expansion. We have been involved with LanzaTech from the outset and take great pride in its success – LanzaTech has an important social contribution to make in reducing air pollution and at the same time turning waste gas into valuable products.”
LanzaTech’s first commercial plant is targeted for operation in 2016. Silicon Valley-based Khosla Ventures remains the largest shareholder in LanzaTech.