LANZAJET ANNOUNCES INVESTMENT FROM MICROSOFT'S CLIMATE INNOVATION FUND, SUPPORTING CONTINUED COMPANY GROWTH

Microsoft's Latest Investment Supports Scaling and Global Deployment of LanzaJet's Technology for the Production of Sustainable Aviation Fuel and Renewable Diesel

CHICAGO, April 22, 2024 /PRNewswire/ -- LanzaJet, a leading sustainable fuels technology company and sustainable fuels producer, today announced an investment from Microsoft's Climate Innovation Fund. This investment from Microsoft enables LanzaJet to continue building its capability and capacity to deploy its sustainable fuels process technology globally. In addition, LanzaJet and Microsoft intend to explore how Microsoft can supply its data and artificial intelligence (AI) capabilities to improve LanzaJet's corporate functions and ethanol to Sustainable Aviation Fuel (SAF) process technology.

This investment in LanzaJet follows a $50 million project finance investment from Microsoft's Climate Innovation Fund in 2022 to support the construction of LanzaJet Freedom Pines Fuels in Soperton, Georgia, the world's first ethanol to SAF production plant, which opened in January 2024. LanzaJet Freedom Pines Fuels will begin annual production of 10 million gallons of SAF and renewable diesel in the second quarter of 2024.

"Our continued alignment with Microsoft allows LanzaJet to build our team and capability at pace to support global deployment of our leading sustainable fuels process technology," said Jimmy Samartzis, Chief Executive Officer of LanzaJet. "Through its support of LanzaJet's first-of-a-kind ethanol to SAF biorefinery, LanzaJet Freedom Pines Fuels, Microsoft has played a significant role in making SAF production a reality in the United States, and this investment reemphasizes its urgent commitment to decarbonization of hard-to-abate sectors."

Microsoft's investment in LanzaJet enables it to gain access to sustainable fuels – SAF and Renewable Diesel – as well as SAF Certificates (SAFc) from future LanzaJet projects. Access to these products will help Microsoft on the path to becoming carbon negative by 2030.

"Microsoft is proud to support LanzaJet with our investment in the growth of its sustainable fuel technology business," said Brandon Middaugh, senior director, Climate Innovation Fund, Microsoft. "Microsoft is investing in partners who share our commitment to advancing a net-zero economy and who are building the market for critical solutions like SAF and renewable diesel."

In addition to Microsoft, LanzaJet's portfolio of investors and funders includes All Nippon Airways (ANA), Breakthrough Energy, British Airways, LanzaTech, Mitsui & Co., Shell, Southwest Airlines, and Suncor Energy.

ABOUT LANZAJET

LanzaJet is a leading sustainable fuels technology company dedicated to accelerating the clean energy transition. As a Sustainable Aviation Fuel (SAF) technology provider and producer with patented ethanol-based alcohol-to-jet (ATJ) technology, LanzaJet is creating an opportunity for future generations by accelerating the deployment of SAF and other clean technologies critical to addressing the climate crisis and transforming the global economy. Further information is available at https://www.lanzajet.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/lanzajet-announces-investment-from-microsofts-climate-innovation-fund-supporting-continued-company-growth-302123734.html

SOURCE LanzaJet