LanzaTech, the New Zealand-based developer of a process using bacterial fermentation to convert carbon monoxide into ethanol, has secured US$3.5M in Series A funding, led by Khosla Ventures and supported by two existing New Zealand based investors.
The technology could produce 50 billion gallons of ethanol from the worldâ€™s steel mills alone. The technology will also contribute to the production of biofuels from cellulosic feedstocks, as it can convert syngasâ€”comprising hydrogen, carbon monoxide, and carbon dioxideâ€”into ethanol.
We have proven in our laboratories that the carbon monoxide in industrial waste gases such as those generated during steel manufacture can be processed by bacterial fermentation to produce ethanol. Garnering the financial and strategic support of Khosla Ventures is a significant validation of our approach, and we welcome Khosla Ventures Chief Scientific Officer, Dr. Doug Cameron, to our Board of Directors.
â€”Dr. Sean Simpson, Chief Scientist and Founder of LanzaTech