CHICAGO, Oct. 16, 2024 (GLOBE NEWSWIRE) -- LanzaTech Global, Inc. (NASDAQ: LNZA) ("LanzaTech" or the "Company"), the carbon recycling company transforming waste carbon into sustainable fuels, chemicals, materials, and protein, has been awarded $3 million by the U.S. Department of Energy's (DOE) Office of Fossil Energy and Carbon Management (FECM), as part of a broader $29 million investment program to advance its carbon management priorities. LanzaTech's Project ADAPT ("Accelerating Decarbonization via Adva ...

CHICAGO, Oct. 15, 2024 (GLOBE NEWSWIRE) -- LanzaTech Global, Inc. (NASDAQ: LNZA) ("LanzaTech" or the "Company"), the carbon recycling company transforming waste carbon into sustainable fuels, chemicals, materials, and protein, today announced that it will issue its third-quarter 2024 financial results before financial markets in the United States open on Friday, November 8, 2024. A conference call will be held that same day at 8:30 a.m. Eastern Time to review the Company's financial results, discuss recent ...

CHICAGO, Oct. 01, 2024 (GLOBE NEWSWIRE) -- LanzaTech Global, Inc. (NASDAQ: LNZA) ("LanzaTech" or the "Company"), the carbon recycling company transforming waste carbon into sustainable fuels, chemicals, materials, and protein, today announced its plans to expand its biorefining platform capabilities to include operations that produce LanzaTech Nutritional Protein ("LNP") as the primary product. LNP is a microbial protein that is a nutrient-rich alternative to plant and animal-based proteins. By using a new ...

CHICAGO, Sept. 03, 2024 (GLOBE NEWSWIRE) -- LanzaTech Global, Inc. (NASDAQ: LNZA) (LanzaTech), the carbon recycling company transforming waste carbon into sustainable fuels, chemicals, and materials, has signed a Master License Agreement (the "Agreement") with SEKISUI CHEMICAL CO., LTD. (TSE: 4204) (SEKISUI) to deploy, at commercial scale, a jointly developed platform that converts syngas derived from municipal solid waste ("MSW") and industrial solid waste into ethanol. SEKISUI intends to build multiple fa ...

Revenue Performance - For the three months ended June 30, 2024, total revenue was $17,375 thousand, a 35% increase from $12,917 thousand in the same period of 2023[161]. - For the six months ended June 30, 2024, total revenue was $27,619 thousand, representing a 22% increase from $22,563 thousand in the same period of 2023[163]. - Recurring revenue for the three months ended June 30, 2024, was $8,541 thousand, a significant increase of 486% from $1,458 thousand in the same period of 2023[161]. - Total revenue increased by $4.5 million, or 35%, to $17.375 million for the three months ended June 30, 2024, compared to $12.917 million in the same period in 2023[186]. - Total revenue for the six months ended June 30, 2024, increased by $5.1 million, or 22%, to $27.619 million compared to $22.563 million in the same period in 2023[195]. Net Loss and Financial Improvement - The net loss for the six months ended June 30, 2024, was $(53.3) million, a 41% improvement compared to a net loss of $(90.1) million for the same period in 2023[157]. - Net loss for the three months ended June 30, 2024, was $27.799 million, compared to a net loss of $26.786 million in the same period in 2023, representing an increase of $1.013 million, or 4%[185]. - Adjusted EBITDA for the six months ended June 30, 2024, was $(39,901) thousand, an improvement of 16% compared to $(47,336) thousand for the same period in 2023[163]. - Adjusted EBITDA for the six months ended June 30, 2024, was $(53.3) million, an improvement from $(90.1) million in the same period of 2023[236]. Cost Management - The cost of revenues (excluding depreciation) for the six months ended June 30, 2024, was $(12,261) thousand, a decrease of 34% from $(18,617) thousand in the same period of 2023[163]. - Cost of revenue decreased by $5.3 million, or 49%, to $5.491 million for the three months ended June 30, 2024, compared to $10.827 million in the same period in 2023[187]. - Cost of revenue for the six months ended June 30, 2024, decreased by $6.4 million, or 34%, to $12.261 million compared to $18.617 million in the same period in 2023[196]. - Selling, general and administrative expenses decreased by $0.7 million, or 6%, to $11.747 million for the three months ended June 30, 2024, compared to $12.452 million in the same period in 2023[190]. - SG&A expenses decreased by $6.5 million, or 22%, in the first half of 2024 compared to the same period in 2023, mainly due to a $3.1 million reduction in professional fees related to the Business Combination[199]. Research and Development - Research and development expenses increased by $2.6 million, or 14%, to $21.481 million for the three months ended June 30, 2024, compared to $18.908 million in the same period in 2023[189]. - R&D expenses increased by $3.3 million, or 10%, in the first half of 2024 compared to the same period in 2023, primarily due to a $4.1 million increase in external R&D services[198]. Cash Flow and Liquidity - Cash, cash equivalents, and restricted cash decreased by $13.4 million, or 18%, from $76.3 million as of December 31, 2023, to $62.9 million as of June 30, 2024[202]. - The company reported cash flows used in operating activities decreased by $16.2 million or 27% for the six months ended June 30, 2024, compared to the same period in 2023[225]. - Net cash provided by investing activities was $29.5 million for the six months ended June 30, 2024, a significant improvement from net cash used of $(59.9) million in the same period of 2023[226]. - Net cash used in financing activities was immaterial for the six months ended June 30, 2024, compared to $146.7 million provided in the same period of 2023, primarily due to proceeds from the Business Combination[228]. - As of June 30, 2024, the company believes its existing cash and cash equivalents will be sufficient to fund operations for the next 12 months[222]. Business Developments - The company launched CirculAir™, a new joint offering to produce sustainable aviation fuel and renewable diesel from waste feedstocks[156]. - The company completed a Business Combination on February 8, 2023, resulting in cash proceeds of $153.3 million[209]. - The company entered into a Convertible Note Purchase Agreement on August 5, 2024, agreeing to sell up to $150 million in Convertible Notes, with $40.2 million issued as of August 6, 2024[214]. - The company has the right to offer and sell shares of common stock with an aggregate offering price of up to $100 million through an At Market Issuance Sales Agreement[212]. Risks and Challenges - The company expects to continue generating operating losses and net cash outflows from operating activities in the near term[220]. - The company may require additional financing to meet operating requirements, which could lead to dilution for existing stockholders if equity is issued[223]. - The company is exposed to interest rate sensitivity, which could affect its cash equivalents and debt security investments[237]. - The company does not engage in hedging or derivative transactions related to commodity prices, which may impact demand for its CarbonSmart products indirectly[240]. - Company is subject to credit risk due to concentration of receivables with a limited number of significant customers, which may adversely affect gross margin and cash flows if defaults occur[241]. - Company has experienced volatility in the price of its common stock, posing a risk for future equity funding if acceptable prices cannot be achieved[242]. - Inflation impacts the company and its customers by increasing costs related to labor, laboratory supplies, consumables, and capital expenditures, potentially affecting business operations materially[243].

To attend the live conference call via telephone, domestic callers can access by dialing 1-800-445-7795 and international callers can access by dialing 1-785-424-1789, and entering the conference identification code: LANZA. LanzaTech Global, Inc. (NASDAQ: LNZA) is the carbon recycling company transforming waste carbon into sustainable fuels, chemicals, and materials. Using its biorecycling technology, LanzaTech captures carbon generated by energy-intensive industries at the source, preventing it from being ...

CHICAGO, June 27, 2024 (GLOBE NEWSWIRE) -- LanzaTech Global, Inc. (NASDAQ: LNZA), the carbon recycling company transforming waste carbon into sustainable fuels, chemicals, and materials, and LanzaJet, Inc., a leading sustainable fuels technology company and fuels producer, are launching CirculAir™, a new joint offering to convert waste, carbon, and renewable power into sustainable aviation fuel (SAF) and immediately accelerate decarbonization of the aviation industry globally. CirculAir is a breakthrough of ...

LanzaJet and LanzaTech, two independent companies, have a long history of collaborating to bring emerging technologies to market and scale nascent industries. The two companies currently maintain joint projects throughout the world, including Australia, New Zealand, the United Arab Emirates, and the United Kingdom. "Over 100 billion gallons of fossil fuel-derived jet fuel are consumed each year–with our joint technology, we can turn that into 100 billion gallons of reliable jet fuel powered by recycled carb ...

CHICAGO, June 20, 2024 (GLOBE NEWSWIRE) -- LanzaTech Global, Inc. (NASDAQ: LNZA) ("LanzaTech" or the "Company"), the carbon recycling company transforming waste carbon into sustainable fuels, chemicals, and materials, today announced an increase in its holdings of LanzaJet, Inc. ("LanzaJet"), a leading sustainable aviation fuel technology provider and fuels producer. As LanzaJet scales its global deployment and seeks to further sublicense the ATJ technology, LanzaTech's interest in LanzaJet is also expected ...

CHICAGO, June 20, 2024 (GLOBE NEWSWIRE) -- LanzaTech Global, Inc. (NASDAQ: LNZA) ("LanzaTech" or the "Company"), the carbon recycling company transforming waste carbon into sustainable fuels, chemicals, and materials, today announced an increase in its holdings of LanzaJet, Inc. ("LanzaJet"), a leading sustainable aviation fuel technology provider and fuels producer. As LanzaJet scales its global deployment and seeks to further sublicense the ATJ technology, LanzaTech's interest in LanzaJet is also expected ...