The financing partnership will enable LanzaJet to bring sustainable, non-alcoholic jet fuel to a commercial level.
LanzaJet – A sustainable fuel technology company and renewable fuel producer launched in 2020 by a carbon recycling innovator
LanzaTech She announced that she had secured funding for her pine fuel freedom planted in it Superton, Georgia, across the Microsoft Climate Innovation Fund.
The Microsoft Climate Innovation Fund — also launched in 2020, as part of Microsoft’s commitment to becoming carbon positive by 2030 — has invested $50 million to support the construction of the LanzaJet (and the world’s first sustainable aviation fuel). Production Plant (SAF). This financing will enable LanzaJet to bring sustainable, low-cost aviation fuel and renewable diesel to the global market.
LanzaJet is dedicated to accelerating the energy transition in sectors where decarbonization is difficult, such as aviation and the marine sector. Working on SAF commercialization, LanzaJet is creating regional jobs while enabling global decarbonization of the aviation sector. The LanzaJet process can use any low carbon density source and sustainable ethanol to produce the fuel.
This investment will also enable LanzaJet to stimulate the market for second generation waste-based ethanol feedstock – showing clear signs of demand for ethanol that can deliver greater carbon and cost reductions. The Freedom Pines fuel plant is expected to be mechanically completed this year and begin producing 10 million gallons of SAF and renewable diesel annually from sustainable ethanol, including from waste-based feedstocks, in 2023.
“We know that bringing about the change our world desperately needs will require persistence, innovation and like-minded partnerships,” said LanzaJet CEO.
Jimmy Samartsis. “We are thrilled to offer Microsoft and its Climate Innovation Fund to help us build our first-of-its-kind sustainable fuel plant in Georgia. Partnering with Microsoft is more than just funding – it advances our work toward zero-fuel; it enables low-cost sustainable fuels to come to market and supports the urgent need to scale up and deploy real and proven technologies.”
The demand for sustainable fuels is increasing, and governments like we
and the United kingdom Leading the transformation by promoting sustainable fuel production. the Biden The administration has set a goal of achieving net zero emissions to aviation by 2050, and I It aims to increase the amount of SAF blended to 63 percent by 2050. In September of 2021, White House announced a target of 3 billion gallons of SAF annually by 2030. As part of this announcement, LanzaJet has pledged to produce 1 billion gallons of SAF per year in the United States by 2030, significantly supporting the country’s ambitions and World Economic Forum‘s target true zero
Initiative – a group of airlines that made new commitments on this front in COP26.
The investment was made as part of Microsoft’s efforts to achieve its 2030 goal of becoming carbon negative and advancing a zero-economy. It also allows Microsoft to access sustainable and renewable diesel fuel for its data centers to enable the tech giant to achieve its zero-zero goals.
“With this investment, we are supporting LanzaJet in creating new pathways to help companies across industries achieve net zero carbon through the use of sustainable fuels,” Brandon MeadowDirector of the Microsoft Climate Innovation Fund. “Decarbonization of industries and technologies that are difficult to mitigate will be essential to achieving our carbon reduction goals by 2030. We look forward to working with LanzaJet to accelerate the global development and deployment of high-quality sustainable fuel technologies.”
Private sector investment and government support are critical to enabling the development and scaling up of new technologies to reduce carbon emissions as the world works to avert catastrophic climate change. The development of LanzaJet’s Freedom Pines Fuels plant is also supported by funding from the US Department of Energy’s Office of Bioenergy Technologies.