LanzaTech awarded $3M by DOE as part of investment program

LanzaTech Global has been awarded $3M by the U.S. Department of Energy’s, or DOE, Office of Fossil Energy and Carbon Management, or FECM, as part of a broader $29M investment program to advance its carbon management priorities. LanzaTech’s Project ADAPT, or Accelerating Decarbonization via Advanced Production Technologies, was selected to address FECM’s priority of converting carbon dioxide into environmentally responsible and economically valuable products. LanzaTech’s Project ADAPT builds upon the Company’s existing capabilities of using CO2 as a feedstock to produce isopropanol at a pilot scale and aims to advance the process and platform. Project ADAPT will primarily be funded by the FECM investment of $3M and includes a Company funded cost share portion of approximately $800,000 totaling an estimated project cost of $3.8M. Revenue and costs related to this project will be reported as Joint Development Agreement and Contract Research results for LanzaTech, and the majority of revenue is expected to be received and benefit financial results in 2025 and 2026.