LanzaJet Inc. has secured at least $20 million in committed financing to support operations and expand production at its Freedom Pines Fuels facility in Soperton, Georgia, reported by StreetInsider, citing a press release dated October 15.
The first tranche of the financing was closed on October 14, with the full transaction expected to be completed by December 2026. The funding is backed by LanzaTech Global Inc., investor Vinod Khosla and other members of the LanzaJet board. As part of a broader recapitalisation and debt reduction exercise, LanzaTech will also increase its ownership stake in LanzaJet.
Freedom Pines Fuels, which LanzaJet describes as the world’s first commercial-scale alcohol-to-jet facility, has an annual production capacity of 10 million gallons of sustainable aviation fuel (SAF) and renewable diesel. The facility has already produced fuels that meet ASTM specifications. The fresh capital will support higher production and help the company meet supply commitments to global customers.
LanzaJet’s technology converts ethanol from different sources, including supplies from Brazil and the US, into SAF. The process is not dependent on a particular feedstock or region, enabling projects to access ethanol from multiple markets, including eligible waste-based sources that can meet mandates in the UK and European Union.
LanzaTech Chief Executive Officer Jennifer Holmgren will take over as chair of the LanzaJet board and serve as its interim chief executive. She said LanzaTech’s experience in taking first-of-a-kind technology to commercial operation would support efforts to scale Freedom Pines Fuels and develop future LanzaJet facilities.
