LanzaTech signs with Korean steel giant Posco for advanced biofuels production

February 21, 2011 |

In New Zealand, LanzaTech has signed a memorandum of understanding with Posco, a Korean conglomerate with interests in steel, power, energy, engineering and construction, to convert the steel maker’s flue gases to ethanol and other value added products. LanzaTech uses its gas fermentation technology to produce ethanol and also 2,3-Butanediol (2,3-BD), a key building block used to make polymers, plastics and hydrocarbon fuels. It has investment from K1W1 (New Zealand), Khosla Ventures (US) and Qiming Venures (China) as well as funding from the New Zealand and US governments.

LanzaTech CEO Jennifer Holmgren commented, “This means that LanzaTech is now working with 2 of the top 5 global steel manufacturers (some would say the #2/3). From my perspective this shows the traction that the LanzaTech technology is receiving in the market place and the potential impact that our technology is likely to have in the coming years.  We are creating a nice pipeline of commercial projects so that as we get to scale – we don’t do it one commercial production facility at a time but multiple commercial production facilities in parallel with a variety of partners globally.”

More on the story.

Category: Fuels

Thank you for visting the Digest.