CHICAGO – Biotechnology start-up LanzaTech has struck a significant deal with renewable energy company Brookfield through which as much as US$1 billion could be piled into projects utilising the former’s carbon capture and transformation (CCT) technology.
LanzaTech’s solution sees waste carbon emissions used in the production of fuel sources, textiles and packaging. An initial US$500m will be invested to deploy CCT technology within Brookfield’s facilities.
Commenting on the Brookfield tie-up, the innovator’s chief executive, Jennifer Holmgren, said: “Together, we have the potential to target significant commodity markets and keep fossil resources in the ground. Each additional plant deployed has the potential to keep the equivalent of around 100,000 tons of carbon from the atmosphere each year. This is the new carbon economy in action!”
