LanzaTech, a producer of low-carbon fuels and chemicals from waste gases, has closed it’s Series C round with new investment totaling US $55.8 million led by the Malaysian
Life Sciences Capital Fund. New investors include PETRONAS Technology Ventures Sdn Bhd, the venture arm of PETRONAS, the national oil company of Malaysia, and Dialog Group, a leading Malaysian integrated specialist technical services provider to the oil, gas and petrochemical industry.
LanzaTech’s specialty is creating biofuels and biochemicals from factory waste emissions. They use carbon monoxide emissions from steel mills, factories, oil refineries, and other waste sources to create ethanol, and then apply a process called gas-liquid bacterial fermentation. LanzaTech captures the carbon monoxide, pumps the gases into a bioreactor, and mixes with liquid, and uses bacteria that feeds on the mixture. Nutrients are added, and when the process is finished ethanol is produced.