LanzaTech eyes two more spinoff companies – ClearTips
Exactly three months after lanzatech Announced a spinout aimed at selling permanent aviation fuel, the company is already preparing two more.
LanzaTech CEO Jennifer Holmgren said on Tuesday at the Discipline 2020 virtual stage that the carbon capture technology company plans to use its core technology to build two other businesses.
LanzaTech captures waste gas emissions and uses bacteria to convert it into usable ethanol fuel. A bioreactor is used to convert liquid emissions derived and compressed from steel mills or factories or any other emission-producing enterprises into liquids.
LanzaTech’s core technology – and its future businesses – is a bacterium that likes to eat these dirty gas streams. As the bacteria eats the emissions, it essentially ferments them – a little bit of how beer is made, Halmgren recently explained – and emits ethanol. Ethanol can then be converted into various products.
“Using our technology that can use a lot of different feedstocks – waste biomass, industrial gases, CO2 from the air – you’re going to make so much ethanol, that I consider ethanol to be the feedstock of the future. In other words, You’re going to use ethanol to make other products. “
In June, LanzaTech did the same and announced a spinoff called LanzaJet. The new company launched with commitments from Japanese trading and investment company Mitsui & Co and Canadian oil and gas producer Suncor Energy, which will invest $ 85 million for Lanzaiat for pilot and development-level facilities.
It now appears that LanzaTech has plans to find other pieces of the supply chain. Holmgren said the company focuses on some cases of use in chemical matters. For example, ethanol can be converted to ethylene, which is used to make polyethylene for bottles and PEP for fibers used to make clothes.
“We see a path from ethanol to products using today’s supply chain,” Holmgren said.
More importantly, Lanzatek has focused on synthetic biology. The company has learned to modify the bacteria it already uses to make ethanol, and instead uses it directly to make other chemicals.
“So you can imagine someday, we’re not just going to make fuel for an aircraft, we’re going to make seatbelt and upholstery – all these things through synthetic biology,” he said, adding that it’s probably a spinoff. Will become. .
The second spinoff company concentrates on a by-product that it already manufactures. The bacteria that eat carbon monoxide, hydrogen and carbon dioxide is a “dilute bacteria” as Holmgren calls it, because it is mostly protein. LanzaTech already sells this thin bacteria as a by-product of its technology.
“Not in the not too distant future, we would like to run a reactor with all these gases, not to make ethanol, but to make protein, and I think that is an ultimate spin out as well,” he said. said.
Holmgren did not provide a specific timeline of these spinouts. However he said that the company is now making a plan and will start taking some steps in the next three months. It has the necessary capital to start and run these enterprises. The synthetic biology spinoff, which Holmgren said is ahead, would require two hundred million dollars.
Holmgren made the announcement Tuesday while disrupting a new small-scale waste biomass gasifier in India. The new gasifier will be hosted at Mangalore Refinery and Petrochemical, one of India’s largest refineries. The Lanzatec gasifier, which will be built in partnership with Indian project development firm Ankur Scientific, will use waste to make ethanol and chemicals instead of electricity.