Forbes Magazine has ranked Roselle-based LanzaTech, a producer of low-carbon fuels and chemicals from gases, 48 in its annual list of the top 100 Most Promising privately held companies.
"It is a huge honor to be selected by the editors at Forbes and to be listed alongside so many incredible companies," said Jennifer Holmgren, CEO of LanzaTech. "The recognition is validation of our approach to reducing emissions through innovative technology and solid partnerships with major players in industries around the world. We are encouraged by this award to make even more progress in 2013."
LanzaTech has developed game-changing technology that converts local, highly abundant, waste and low-cost resources into sustainable, valuable commodities. The patented process uses a microbe to convert gas containing CO or CO2 (from industrial sources like steel mills and processing plants) or synthetic gas generated from any biomass resource (e.g. municipal solid waste, organic industrial waste, agricultural waste) into fuels and chemicals.
In 2012, LanzaTech reached key development milestones when it became the first company ever to scale gas fermentation technology to a pre-commercial level. Working closely with its partner in China, Baosteel, LanzaTech successfully operated a facility with an annualized production capacity of 100,000 gallons of ethanol. The companies are now planning construction of a commercial facility. The success with Baosteel helped accelerate the development and commissioning of a second facility (also 100,000 gal/year), with Capital Steel near Beijing.