LanzaTech Global Inc. (NASDAQ: LNZA) announced that Beijing Shougang LanzaTech Technology Co. Ltd., a joint venture in which LanzaTech held a 9.31% equity stake, completed an initial public offering on the Hong Kong Stock Exchange.

The joint venture raised approximately $75 million before underwriting fees through the sale of 40 million H-shares at $1.86 per share. The offering valued the company at approximately $750 million upon listing. Trading began under stock code 02553.

Following the IPO, LanzaTech holds 33.5 million H-shares through a subsidiary, representing 8.38% of the joint venture's total issued share capital.

The joint venture operates four facilities using LanzaTech's carbon recycling technology, which converts industrial emissions into fuels and materials. According to the IPO prospectus, the company generated revenue between $77 million and $87 million annually from 2023 to 2025.

The joint venture focuses on converting waste-derived ethanol to sustainable aviation fuel, targeting regulated fuel markets. LanzaTech's technology uses gas fermentation to transform waste carbon into products including feedstocks for aviation fuel and chemicals.

"This IPO highlights the growing commercial potential of carbon recycling," said Jennifer Holmgren, LanzaTech's chief executive officer. "Our technology is already operating at scale, turning emissions into valuable products and creating a platform for growth in fuels, including SAF, as global markets seek lower-carbon, more resilient supply options with less exposure to geopolitical disruption."

The listing supports LanzaTech's strategy to generate value through technology licensing and equity participation in commercial projects. The Skokie, Illinois-based company provides carbon management solutions through partnerships globally.