Decarbonisation Technology August 2025 Issue

LanzaJet’s global investor network

Investor

Year 2020 2020 2020 2021 2021 2021 2021 2021 2024 2024 2024 2024

Stakeholder

1 2 3 4 5 6 7 8 9

LanzaTech

Technology partner

Suncor Energy

Energy

Mitsui & Co.

Trading and infrastructure

British Airways/IAG

Airline/offtaker

Microsoft

Technology/Climate Fund Climate Innovation Fund

Breakthrough Energy All Nippon Airways (ANA)

Airline Energy

Shell

MUFG (Mitsubishi UFJ) Southwest Airlines

Financial institution

10 11 12

Airline/offtaker Aerospace OEM Airport operator

Airbus

Groupe ADP

Table 2 LanzaJet’s global investor network includes strategic partners across aviation, energy, finance, and government committed to scaling SAF

lengths, are split into different fractions of product based on their boiling points, with the intent of isolating the fraction suitable for jet fuel. This means separating the hydrocarbons in the boiling range appropriate for meeting all jet fuel specifications as the main output. The remainder of the mixture is heavier than jet fuel and used to produce a renewable diesel output. Importantly, other SAF pathways such as HEFA and Fischer-Tropsch often produce several byproducts beyond jet fuel hydrocarbons, including light gases, naphtha, and other heavier oils. However, LanzaJet’s process is intentionally designed to deliver a high level of selectivity to SAF. Apart from a small amount of renewable diesel, the process does not produce any other byproducts. Flexibility: high SAF or RD selectivity Another bonus of LanzaJet’s pathway is that it can flexibly adjust its product slate. Typically, the output would be set to deliver 90% SAF and 10% renewable diesel (RD) from its biorefinery’s capacity. This high SAF selectivity is possible since LanzaJet’s pathway does not produce any naphtha. However, if needed, the operating conditions can be adjusted onstream without any changes to the ATJ unit’s design to redirect its product output and change the selectivity to a 75% RD and 25% SAF split. This flexibility can be achieved by making minor adjustments to the reaction conditions.

For example, by modifying the oligomerisation process through altered parameters such as temperature, pressure, and residence time, the distribution of hydrocarbon chain lengths can be actively controlled, thereby allowing more diesel and less SAF production. In all, the robustness of LanzaJet’s pathway has been the culmination of nearly 15 years of research, incubation, trial and error, scale-up, and perseverance. By taking on the challenge of building and operating its own facility, LanzaJet not only embraced the risk of construction, finance, and revenue but also set out to de-risk the scaling of an FOAK technology. However, it is clear that this process could not have been done without the unwavering support of a wide range of pioneering investors and partners. Attracting world-class investors LanzaJet’s combined technology expertise, pioneering approach, and overall commitment to sustainability have attracted a world-class array of investors, spanning the breadth of the SAF value chain (see Table 2 ). These partnerships not only provide financial backing but also facilitate the sharing of expertise and resources critical for enabling the company’s success and scaling. On numerous occasions, stakeholders have gone well beyond their traditional investment remit, not least LanzaJet’s airline partners. By investing in LanzaJet, British Airways (BA), All Nippon Airways, and Southwest Airlines