LanzaTech, Technip Energies committed up to $200M in federal funding for SECURE

Technip Energies (THNPF) and LanzaTech Global (LNZA) announced that the U.S. Department of Energy Office of Clean Energy Demonstrations has committed up to $200M in federal funding and authorized the initiation of Phase 1 of their Sustainable Ethylene from CO2 Utilization with Renewable Energy Project, Project SECURE. “Project SECURE, led by Technip Energies in partnership with LanzaTech, aims to provide an integrated commercial process which takes captured carbon dioxide from ethylene production and recycles it with low carbon intensity hydrogen to create sustainable ethanol and ethylene. This joint technology solution is intended to first be deployed in the U.S. Gulf Coast region for integration directly into an existing commercial ethylene cracker and has significant replication potential for ethylene crackers worldwide. Globally, there are approximately 370 ethylene steam crackers, over 40 percent of which use Technip Energies’ technology, including eight in the US. LanzaTech’s carbon recycling technology, which has benefited from previous DOE support, can also be utilized in any industry with waste carbon, allowing other sectors to profit from capturing and recycling carbon-rich emissions into valuable ethanol, instead of sequestering or releasing them into the atmosphere,” the companies stated.