Getting innovation timing right: SPAC deal sets LanzaTech up for growth and success

March 24, 2022 | Case Study

LanzaTech initially began as a company seeking to commercialize its microbial gas-to-alcohol technology. Despite the skepticism and challenges that come with synthetic biology conversion, the company has made considerable commercial strides and established itself in multiple downstream CO2 utilization applications. Evolving from gas-to-alcohol to alcohol-to-product, LanzaTech's platform now supports the production of chemicals, polymers, and synthetic jet fuels. In 2020, the company spun out LanzaJet to focus on the production of sustainable aviation fuel and is reportedly considering subsequent spin-outs targeting other industries. The next year, LanzaTech expanded its scope to CO2-derived chemicals and polymers for consumer packaged goods. Most recently, LanzaTech announced plans to go public through a merger with AMCI Acquisition Corp II, a special purpose acquisition company (SPAC), in a deal that values LanzaTech at USD 2.2 billion. A direct consequence of the SPAC deal is the substantial influx of capital that sets the stage for LanzaTech to establish such spin-outs and fund commercial-scale manufacturing of products that can impact the decarbonization efforts of the energy and materials sectors. This case study explores the implications of the SPAC deal and LanzaTech's new market position, as well as the importance of CO2 utilization for emerging materials and future energy needs.

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