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Carbon Capture and Utilization

LanzaTech and Brookfield Renewable form strategic capital partnership

LanzaTech and Brookfield Renewable form strategic capital partnership
Viridos Inc. receives a US$5 million grant from the California Governor’s Office of Business and Economic Development (GO-BIZ) in California Competes (CalCompetes) grant awards.

US-headed carbon capture and transformation major LanzaTech NZ, Inc. (LanzaTech), has announced a funding partnership with Brookfield Renewable (Brookfield), and its institutional partners, to co-develop and build new commercial-scale production plants that will employ LanzaTech’s CCT technology, which transforms captured carbon into valuable raw material commodities.

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Brookfield Renewable is the flagship listed renewable power company of Canada-headed Brookfield Asset Management Inc, a leading global alternative asset manager with approximately US$750 billion of assets under management.

The funding partnership commits an initial US$500 million to be invested by Brookfield Renewable in constructing and operating new CCT projects that have achieved certain pre-agreed milestones.

Largest of its kind fund

The funding will be provided through the Brookfield Global Transition Fund (BGTF), Brookfield’s inaugural impact fund focusing on investments that accelerate the global transition to a net-zero carbon economy while delivering strong risk-adjusted returns to investors.

The Fund targets investment opportunities relating to reducing greenhouse gas (GHG) emissions and energy consumption, as well as increasing low-carbon energy capacity and supporting sustainable solutions.

Said to be the largest Fund in the world focused on the energy transition, Brookfield will be LanzaTech’s preferred capital partner for LanzaTech CCT opportunities in Europe and North America.

LanzaTech’s technology provides a new way to decarbonize hard-to-abate sectors across the economy. We view this as an attractive opportunity to accelerate deployment of this technology at scale and be a partner to grow in an emerging area of infrastructure in a decarbonized economy, said Natalie Adomait, Managing Partner and Chief Investment Officer of BGTF.

Could commit up to US$1 billion

Following initial investments totaling US$500 million, Brookfield could commit to making an additional US$500 million available for investments in the strategic partnership if sufficient projects are available at the agreed milestones.

Brookfield will also invest US$50 million in LanzaTech to support further corporate development.

Creating a new carbon economy will require new ways of financing technology scale-up and deployment, said Dr Jennifer Holmgren, CEO of LanzaTech.

As announced in August 2022, LanzaTech has entered into a merger agreement for a business combination transaction with AMCI Acquisition Corp. II (AMCI) which is expected to close in the third quarter of 2022, subject to, among other things, approval by AMCI’s stockholders and LanzaTech’s stockholders and the satisfaction or waiver of other customary closing conditions.

Scaling the power of biology

LanzaTech creates industrial symbioses where the emissions from heavy industry can be used by consumer goods companies to make products that would otherwise come from fossil inputs.

LanzaTech’s first two commercial-scale gas fermentation plants have produced over 30 million (US) gallons (≈ 114 million litres) of ethanol with additional plants under construction globally.

Using the power of biology LanzaTech converts carbon using a biocatalyst to transform emissions into fuels and chemicals.

Through the application of its technology, steel mill emissions have been converted into sustainable aviation fuel (SAF), clothing ranges, laundry detergent, household cleaners, and fine fragrances.

We are excited to partner with Brookfield to accelerate deployment and achieve exponential growth. Together, we have the potential to target significant commodity markets and keep fossil resources in the ground. Each additional plant deployed has the potential to keep the equivalent of around 100 000 tonnes of carbon from the atmosphere each year. This is the new carbon economy in action! ended Dr Jennifer Holmgren.

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