BASF Venture Capital invests in Chicago based biotech company LanzaTech. LanzaTech has developed a technology for gas fermentation that first enables ethanol to be produced from residual gases containing carbon monoxide and hydrogen.
Using waste instead of incineration enables industry to reduce carbon dioxide emissions. LanzaTech’s patented technology is being deployed at commercial scale in the steel industry where carbon monoxide from residual gases are converted into ethanol.
Ethanol can be used to produce diesel, gasoline or jet fuel and probably also plastics and polymers.
Markus Solibieda, Managing Director of BASF Venture Capital made following statement
“LanzaTech offers a promising technology that allows currently unused industrial residue and waste streams to be recycled. We support our customers and society with chemistry that makes optimum use of available resources, and we are working to integrate sustainability increasingly in all our business processes. One part of this is investment in technologies that help to reduce carbon dioxide emissions.”
Jennifer Holmgren, CEO of LanzaTech made following statement
“Investment from BASF will help us realize our goal of a Carbon Smart Future. BASF’s expertise in creating sustainable chemistry that benefits society aligns with our carbon recycling vision, where we capture and reuse waste carbon to make useful everyday items, displacing fossil feedstocks and keeping the sky blue for all.”