BusinessDesk: Lanzatech raises US$55.8 mln (NZ$69 mln) in largest capital-raising to date

BusinessDesk: Lanzatech raises US$55.8 mln (NZ$69 mln) in largest capital-raising to date

Bio-fuels pioneer Lanzatech has achieved its largest capital-raising to date, announcing it has secured US$55.8 million (NZ$69 million) in new capital from a combination of leading Malaysian state and private funders, along with existing investors in the US, China, and New Zealand.

With its scientific headquarters in Auckland, but headquartered in the US, Lanzatech is increasingly cited as an emerging leader in the fast-developing global bio-fuels industry, with strategic relationships ranging from China’s most prestigious state science agency to the US Department of Defense’s innovation arm.

The latest deal, described as its “Series C round” of fundraising, comes ahead of a possible sharemarket listing as early as next year, most probably in the US or China.

The lead investor in this round of capital-raising adds a new dimension for Lanzatech by bringing on board the Malaysian Life Sciences Capital Fund as the lead participant. A partnership between the Malaysian Technology Development Corporation and San Francisco-based merchant bank Burrill & Co, the fund is closely linked to the country’s state-led economic development strategy.

Also on board in this round are the Malaysian state oil company, Petronas, and Dialog Group, described as a specialist technical services provider to the petrochemical industry.

Based on Lanzatech’s development strategy to date, the emergence of Malaysian investors on its register suggests the likely announcement of joint venture projects with the likes of Petronas, using Lanzatech’s patented fermentation technology.

Petronas chief executive Haida Shenny Hazri said the Malaysian state oil company’s investment “provides a platform for Petronas to pursue the integration of LanzaTech’s technology on converting waste gases with Petronas’ operations.”

The Lanzatech process allows bio-fuels and other chemicals to be produced from industrial waste gas streams, such as steel mill and oil refinery flues. The use of waste gases is attractive because it avoids feedstocks derived from crops and agricultural land that might otherwise be used for food.

Existing Lanzatech investors to participate in the latest capital-raising were the US-based venture capital fund Khosla Ventures, run by billionaire green-tech investor Vinod Khosla, Shanghai-based venture capital fund, Qiming Venture Partners, and the original New Zealand investor group, K1W1, involving Warehouse founder Stephen Tindall.

To date, the company has raised more than US$85 million.

“The size of this round and the quality of the new and returning investors is a strong validation of not only our technology, but the unparalleled opportunity for Lanzatech to be a global leader in biofuels and biochemicals markets,” said the company’s Illinois-based chief executive, Jennifer Holmgren.

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Not good at all - tension is rising around the “Strait of Hormuz”
Mohammad Kossari, deputy head of parliament's foreign affairs and national security committee, issued the warning in respone to a decision by the European Union on Monday  to impose an oil embargo on Iran over the country’s alleged nuclear weapons program. 
 
http://rt.com/news/iran-close-strait-hormuz-embargo-455/
 
We must driving fast towards the cliff - before the price of petrol goes up :-))
 
 
Serious, alternative solutions are coming late, mostly blocked by “multimillion $ rich lobby groups”.

Put the hanky away Walter. That lesson was learned in the 1930s. The regime in Iran is not your friend. You have to come to terms with the fact that there are regimes in this world that are run by utter shites...worse than Obama and Cameron and Sarkozy and Merkel !
The question is.....how many of the religious sods who own the Iranian regime have very fat bank accounts in Moscow and in Switzerland.

Stupid war games !
…and why is there after the disaster in Iraq another possible war developing by various, western governments without even consulting the public ?  
http://www.huffingtonpost.com/2012/01/23/eu-iran-oil-embargo_n_1223012.html
Russia's Foreign Ministry said the sanctions are a severe mistake likely to worsen tensions. "It's apparent that in this case there is open pressure and diktat, aimed at 'punishing' Iran for uncooperative behavior.
 
Other countries are steering clear of such measures altogether. China also does not support an embargo, and Japan's finance minister, Jun Azumi, has expressed concern about the effectiveness of U.S. sanctions on Iran – not to mention their potential impact on Japanese banks.
http://www.huffingtonpost.com/2012/01/23/eu-iran-oil-embargo_n_1223012.html
 
Wolly - taking into consideration the worldwide situation with massive problems, this development has the potential to lead into WWIII – because of a few fanatics on top, but billions of peaceful spirits without power of expression – how bizarre.
 
In this particular case I’m with Russia/ China.  
 
This is stupid, political "Hanky- panky" -  Wolly !

Like I said Walter...you need to put away the hanky...this is the world as it has always been and it aint going to change. The Russian govt is about as bent as it can be and Tsar Putin is in charge...China is all about what's best for the swine running China....Iran is under the thumb of religious freaks with a desire to stuff as much oil loot into their personal foreign bank accounts as possible...Madjad is just the silly wee puppet...
So we have a war..big deal...war has been going on nonstop for decades...crying about it will not stop it.
Everywhere, you have religious madness in a game out to warp the brains of as many as possible...warp them they will because most of them never develop the capacity to think.
look at the madness of the US election farce....their choice is between dumb, dumber, liar, tax crook, marriage cheat and greedy! .....it's a case which one is the least likely to blow the planet to pieces.
But stop worrying Walter....I promise you....Captain America is coming to the rescue on a dvd near you...
 
 

Intellectual worldwide revolution a necessity – before it is too late.
 
I’m aware of that and the stupid consequences. I don’t need a hanky.
 
Wolly – every time we have an exchange of comments you are representing the “status quo” – very unusual of you. You debate about most everything, but not about democratic principles - strange !
 
I don’t accept/ tolerate governments, which even don’t consult parliament or/ and the public – democratic processes forgotten. There must be widespread voices against sanctions and war among the wider population of countries.
 
 
Like many others Wolly, Ron Paul also has a very clear opinion on that :  
http://www.youtube.com/watch?v=oNXJSVpBibI&feature=related
 
on wars : http://www.youtube.com/watch?v=I9J1q8xIoj0&feature=related