In Japan, Mitsui & Co., Ltd. will acquire an equity interest in China-based next-generation ethanol producer Beijing Shougang LanzaTech New Energy Technology (SGLT). After obtaining the appropriate licenses and permissions, Mitsui plans to invest around $8.5 million in SGLT via a third-party allotment implemented by the company.
SGLT is the world’s first commercial-scale producer of next-generation ethanol using waste gas from steelworks as a raw material. The company uses technology that converts waste gas into fuel and chemicals by microbial fermentation, which has been developed by US-based LanzaTech, Inc. (LT), a company that received investment from Mitsui in 2014. Through participation in SGLT’s management, Mitsui will support the reinforcement of SGLT’s business foundations, and will contribute to further business expansion in China utilizing its own extensive business network.
Mitsui is also working on the development of a business specialized in the production of Sustainable Aviation Fuels (SAF) using LT’s proprietary technology. On October 30, Mitsui joined its SAF development partner All Nippon Airways Co., Ltd. to successfully carry out a delivery flight of a new ANA Boeing 777-300ER utilizing SAF, from Everett, Washington to Haneda Airport in Tokyo. The SAF used during this delivery flight was produced by LanzaTech and derived from next-generation ethanol produced by SGLT.
Category: Producer News
This articles was originally posted at: https://www.biofuelsdigest.com/bdigest/2019/11/14/mitsui-to-invest-8-5-million-in-lanzatechs-chinese-company/ on