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Biofuel and Carbon Capture Startup Raises $60 Million

Japan's Mitsui led the round for LanzaTech.

Biofuel company LanzaTech has raised a $60 million round led by Mitsui & Co. of Japan. The Roselle, Ill., company captures waste gas from factories and converts it into low-carbon fuels and chemicals, using microorganisms. The investment will be used to further develop the company’s gas fermentation technology and expand its product portfolio. New investors in the round included Siemen’s venture capital division and CICC Growth Capital. Existing investors Khosla Ventures, Qiming Venture Partners, K1W1 and the Malaysian Life Sciences Capital Fund also participated.

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