Lanzatech, a clean tech company founded in 2005 whose aim is to increase the recycling of carbon found in industrial waste, secured an investment of $72M from the Danish Novo Holdings the 6th of August 2019. Novo Holdings is the holdings company and investment arm of the Danish pharmaceutical giant Novo Nordisk, which is one of the largest global producers of insulin.
We are delighted with the investment from Novo Holdings, a visionary company and team focused on creating long-term value while making a positive impact. This comes at a critical time for the health of our planet. We no longer need to debate whether climate change is real. We need to mobilize all sustainable solutions to create a future free of carbon pollution.Jennifer Holmgren CEO of Lanzatech
In addition to the financing aspect Novo Holdings also brings both expertise and intellectual property from one of its other subsidiaries, Novozymes. Novozymes is a biotech company focusing on the production and development of enzymes and biopharmaceutical ingredients aimed at industrial/bio tech enduses and was originally part of Novo Nordisk before it was spun off in 2000. Lanzatech’s product portfolio has historically primarily been focused on the production of bio ethanol, with the new partnership they are looking to expand into other chemicals.
NOVO HOLDINGS’ INVESTMENT AND EXPERIENCE IN THE INDUSTRIAL BIOTECHNOLOGY SPACE, WILL ALLOW LANZATECH TO CONTINUE TO CREATE A CARBON SMART WORLD, WITH CLEAN BLUE SKIES AND BLUE OCEANS FOR ALL.Jennifer Holmgren CEO of Lanzatech
Through their proprietary technology Lanzatech believe that they have the potential to displace 30% of worlds consumption of crude oil and reduce carbon emission by 10%. The underlying tech that enables this essentially works by recycling carbon from industrial waste products and pollution. An example of this is Syngas generated from biomass waste material from municipalities, agriculture etc., through the use of bacteria this is then converted into new carbon based products which can include a very diverse range of products such as fuel as well as a wide range of consumer goods.