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Finance

LanzaTech completes SPAC merger

by Craig Bettenhausen
February 24, 2023 | A version of this story appeared in Volume 101, Issue 7

 

The cleantech firm LanzaTech has gone public through a merger with a special purpose acquisition company (SPAC), a long-anticipated move that values the firm at $1.8 billion. LanzaTech, which will trade on the Nasdaq stock exchange under the symbol LNZA, uses fermentation to convert various combinations of CO, CO2, and H2 into chemicals. The firm already has three commercial-scale plants in China producing ethanol from steel mill waste gas. The SPAC merger raised $240 million, which LanzaTech says it will use for R&D as well as to accelerate and execute plans to build plants.

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