Skokie-Based Business Becomes First Public Carbon Capture Company

SKOKIE, IL — A company headquartered in Skokie that converts carbon emissions into useful products last week became the first publicly traded carbon capture and transformation company in the United States.

LanzaTech Global uses microbes to take carbon released by fossil fuels and other waste products turns it into materials such as sustainable fuels, textiles, cosmetics and packaging. Founded in New Zealand in 2005, LanzaTech shares began trading on the Nasdaq exchange on Friday after combining with a special purpose acquisition company last year.

“Today marks a tremendous milestone in our company’s journey, as the first shares of LanzaTech common stock will trade on Nasdaq, as we successfully navigated our business combination transaction with AMCI Acquisition Corp. II," Lanzatech Chairwoman and CEO Jennifer Holmgren said in a statement. "We are thrilled to complete this transaction, and begin this new chapter in the company’s history as we transition to a public company."

So far, there are three ethanol plants operating in China using LanzaTech technology, with six others scheduled for completion or commissioning for this year and eight more in the engineering phase, according to company management.

With more than 1,250 patents, LanzaTech uses a licensing-driven model, which accelerates the deployment of its technology and offers commercially viable opportunities to customers anywhere in the world. The $240 million raised by the stock offering is expected to provide the company enough funding to break even next year, company officials said.

"The proceeds enabled by this transaction," Holmgren said, "coupled with the additional strategic partnerships we have signed with some of the largest energy and industrial leaders across the globe, provide a significant runway for us to drive shareholder value and execute on our mission of providing equal access to a post pollution future for all."

LanzaTech has partnered with consumer brands like L'Oreal, Unilever, Lululemon and Zara. With about 200 employees, it also has a long history of collaboration with researchers at Northwestern University.

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Two years ago, it spun off LanzaJet, which makes sustainable aircraft fuel, and last year, LanzaTech was a finalist for the Earthshot Prize, a prestigious environmental prize launched by Prince William in 2020.

“By 2040," Holmgren said last year, "we hope that every U.S. consumer, regardless of where they are from or how much they earn, will have direct access to a sustainable version of every product they purchase."