Siemens invests in environmental specialist LanzaTech

Investment complements existing collaboration in development and marketing of environmental solutions for steel industry

(PresseBox) ( Linz, )
The Venture Capital unit of Siemens Financial Services and central venture capital organization of Siemens (SFS VC) is investing in LanzaTech, a US-based technology leader in the biological generation of fuels and basic chemicals from industrial waste gases. The Siemens Metals Technologies Business Unit and LanzaTech have been cooperating since the end of 2012 on the development and marketing of integrated environmental solutions for the iron, steel and ferroalloy industries based on a fermentation process developed by LanzaTech.

In this round of financing, LanzaTech has received US$ 60 million from its existing investors and new investors including Mitsui & Co., Ltd., CICC Growth Capital Fund I, L.P. and Siemens' Venture Capital unit. These funds will help LanzaTech to further commercialize its fermentation technology for industrial waste gases, to extend their core gas fermentation platform and further develop their product portfolio. To date, products include fuels such as ethanol or jet fuel and commodity chemicals such as butadiene used in nylon production or propylene used in plastics manufacture.

In December 2012, Siemens Metals Technologies and LanzaTech signed a ten-year cooperation agreement to develop and market integrated environmental solutions for the iron, steel and ferroalloy industries. The collaboration focuses on the innovative, highly-efficient fermentation process developed by LanzaTech, which can convert carbon-rich blast furnace gases generated in the metal-producing industry into bio-ethanol and other basic chemicals. The potential energy efficiency is around 70 percent higher than would be possible with gas-fired power plants. The CO2 footprint of the bio-fuel produced by fermentation is 50 to 70 percent smaller than that of petrochemically produced fuel. Siemens and LanzaTech are also cooperating on integrating and optimizing the fermentation process and on marketing and implementing customer projects. The first commercially operated plants are expected to start running in 2015.

The Financial Services unit of Siemens (SFS) is an international provider of business-to-business financial solutions. SFS helps facilitate investments, providing commercial finance, project and structured finance with specific asset expertise in the energy, healthcare, industry, and infrastructure & cities markets. Employing more than 3,000 employees worldwide, SFS supports Siemens as well as other companies with their capital needs and acts as an expert manager of financial risks within the Siemens company. By leveraging our financing expertise and our industrial know-how we create value for our customers and help them strengthen their competitiveness. Beyond that, financing is key in creating trust for technological solutions - and acts as a key enabler when it comes to the market launch. As of September 30, 2013, the total assets amounted to €18.7 billion. For more information, visit: http://www.siemens.com/finance

The Venture Capital unit of SFS (SFS VC) and corporate venture capital organization of Siemens invests in early stage technology companies and established technology growth companies, focusing on the energy, healthcare, industry, and infrastructure & cities markets and hence plays a key role in Siemens' global innovation network. The aim is to identify innovative solutions from which Siemens and its customers can profit and to strengthen business partnerships with innovative industry players. To date, the company has invested in about-180 start-up companies. For more information, visit http://www.siemens.com/venturecapital.

The Metals Technologies Business Unit (Linz, Austria), part of the Siemens Industry Sector, is one of the world's leading life-cycle partners for the metals industry. The Business Unit offers a comprehensive technology, modernization, product and service portfolio as well as integrated automation and environmental solutions covering the entire life cycle of plants. For more information, visit www.siemens.com/metals

LanzaTech is a leader in gas fermentation technology that provides novel and economic routes to fuels and high value chemicals from waste carbon streams. By leveraging waste resources, LanzaTech's solutions mitigate carbon emissions from industry without adversely impacting food or land security. LanzaTech's unique process, certified by the Roundtable on Sustainable Biomaterials, creates sustainable fuels and platform chemicals that serve as building blocks for everyday products such as rubber and plastics. LanzaTech, a company founded in New Zealand and headquartered in the U.S. is now a global organization with partnerships and investors in the U.S., India, Malaysia, Japan, and the UK with two commercial facilities slotted for construction in 2015 in China. For more information, visit http://www.lanzatech.com
The publisher indicated in each case is solely responsible for the press releases above, the event or job offer displayed, and the image and sound material used (see company info when clicking on image/message title or company info right column). As a rule, the publisher is also the author of the press releases and the attached image, sound and information material.
The use of information published here for personal information and editorial processing is generally free of charge. Please clarify any copyright issues with the stated publisher before further use. In the event of publication, please send a specimen copy to service@pressebox.de.