LanzaJet secures €44 million from Microsoft Fund
The Fund has made a $50 million (€44 million) investment to support the construction of LanzaJet’s first alcohol-to-jet sustainable aviation fuel (SAF) production plant in Soperton, Georgia.
The innovative structure of Microsoft’s financing will enable LanzaJet to bring lower-cost sustainable aviation fuel and renewable diesel to the global market. LanzaJet produces SAF and renewable diesel from low-carbon, sustainable ethanol sources.
This investment also creates the opportunity for LanzaJet and the Fund to work together in enabling LanzaJet to catalyse the market for 2nd generation, waste-based ethanol feedstock.
The construction of Freedom Pines Fuels is progressing as planned, even with supply chain, manufacturing, and labor shortages impacting the global economy.
The LanzaJet Freedom Pines Fuels plant is expected to achieve mechanical completion this year and begin producing 10 million gallons of SAF and renewable diesel per year from sustainable ethanol, including from waste-based feedstocks, in 2023.
Jimmy Samartzis, LanzaJet CEO, said: “We know that creating the change which our world desperately needs requires perseverance, innovation, and like-minded partnerships. We are thrilled to bring on Microsoft and its Climate Innovation Fund to help us build our first-of-its-kind sustainable fuels plant in Georgia.
“The partnership with Microsoft is more than just financing – it advances our work towards net zero fuels, it enables lower-cost sustainable fuels into the market, and it supports the urgency to have real, proven technologies scale-up and deploy.”