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Australia-based world power firm Woodside Vitality and LanzaTech NZ, a US-based carbon seize and transformation firm, introduced a strategic collaboration with the signing of a Strategic Framework Settlement. Below the settlement Woodside will, in collaboration with LanzaTech and topic to a constructive last funding determination, design, assemble, personal, preserve and function pilot services regarding LanzaTech’s applied sciences.
The Strategic Framework Settlement additionally permits Woodside and LanzaTech to discover alternatives for the potential business scale-up of LanzaTech’s know-how, which seeks to transform greenhouse gasoline emissions into new merchandise.
In conjunction, Woodside has entered right into a Subscription Settlement for a US$50-million funding within the frequent inventory non-public funding in public fairness (PIPE) of AMCI Acquisition Corp. II (AMCI), with which LanzaTech is predicted to merge in a beforehand introduced enterprise mixture transaction.
The Strategic Framework Settlement and Woodside’s PIPE funding are conditional on closing of the proposed enterprise mixture between LanzaTech and AMCI. Upon closing, the mixed firm is predicted to commerce on Nasdaq underneath the ticker image “LNZA”.
Woodside’s funding is a significant milestone for the LanzaTech and AMCI enterprise mixture. The collaboration with Woodside is predicted to unlock vital worth for LanzaTech, permitting LanzaTech to develop the purposes of its know-how to completely different feedstocks and rethink waste administration programs.
Woodside and LanzaTech anticipate to additional collaborate to discover and develop extra merchandise from greenhouse gasoline emissions.
Because the power transition advances, we anticipate growing demand for carbon seize utilisation and storage (CCUS). LanzaTech have an modern strategy in direction of not simply decreasing greenhouse gasoline emissions however remodeling them into helpful merchandise. Their skillset within the fields of artificial biology, bioinformatics, synthetic intelligence, and machine studying coupled with engineering presents a possible alternative to understand this aspiration.
This can be a step ahead in reaching our objective of constructing a brand new power portfolio centered on profitably investing within the services to help our prospects’ chosen decarbonization pathways.
—Woodside CEO, Meg O’Neill
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