LanzaJet secures MUFG investment to scale sustainable aviation fuel technology
![](https://sustainabilityeconomicsnews.com/wp-content/uploads/2024/06/MUFG-Announcement_R1.webp)
LanzaJet, a sustainable fuels company, revealed that it had received an investment from Mitsubishi UFJ Financial Group (MUFG) to accelerate the deployment of its “proprietary ethanol to sustainable aviation fuel (SAF) process technology.”
The investment made by MUFG is part of the sustainable fuels producer’s $100 million growth equity funding round. Big companies across the globe are backing the funding initiative.
Companies such as Southwest Airlines, Microsoft, and Groupe ADP have invested in LanzaJet as part of the funding round.
In addition, Nippon Airways (ANA), Breakthrough Energy, British Airways, Groupe ADP, LanzaTech, Microsoft’s Climate Innovation Fund, Shell and others are part of Lanzajet’s portfolio of investors and funders.
Also read: Europe’s biggest airline group to charge up to €72 for covering clean fuel costs
Jimmy Samartzis, Chief Executive Officer of LanzaJet, said, “We continue to build a leading team of investors along the SAF value chain who believe in LanzaJet’s ability to decarbonize aviation, which will both address climate change and enable the global economy”.
He added, “The investment from MUFG further enables LanzaJet’s efforts to scale SAF production, with one of the world’s leading financial groups enabling the development of infrastructure globally.”
Also read: Europe will need to invest more in sustainable aviation fuels to meet Net-Zero targets
With an increasing demand for SAF, LanzaJet aims to be at the forefront of the expansion by commercialising its innovative ethanol-to-SAF technology and opening its fully bankrolled Freedom Pines Fuels biorefinery.
According to the press release, the refinery will be the world’s first commercial-scale ethanol-to-SAF plant.
Planned to be established in the US, the plant will produce SAF and renewable diesel from “low-carbon and sustainable ethanol and achieve International Sustainability and Carbon Certification (ISCC)”, the release mentions.
![](https://sustainabilityeconomicsnews.com/wp-content/uploads/2024/07/30341f8d-32ff-4c5a-ad4e-dcdb01497bd9-150x150.jpg)
EIB Global supports €271 million Egyptian climate and...
-
During the EU-Egypt Investment Conferenc...
- 02/07/2024
![](https://sustainabilityeconomicsnews.com/wp-content/uploads/2024/07/Asset-Management-150x150.png)
Eco-gamers launch online video game to target asset...
-
A team of eco-gamers known as Serious Pe...
- 01/07/2024
![](https://sustainabilityeconomicsnews.com/wp-content/uploads/2024/06/Depositphotos_73537517_S-150x150.jpg)
EU regulators push for revisions in landmark ESG...
-
Regulators overseeing the markets, banki...
- 19/06/2024
Related News
Iberdrola, a Spanish renewables company, announced that it has acquired the “80% it did not control of Balantia”. Iberdrola had initially entered the firm’s capital […]
Japan’s largest steelmaker, Nippon Steel and trading house, Sumitomo Corp, announced that they have renewed a long-term contract with Norway’s Equinor to supply seamless steel pipes […]
Cepsa announced that it has entered a strategic partnership with PreZero Spain to advance objectives related to decarbonization. According to the agreement, PreZero Spain will […]
In a new critique of the voluntary carbon market, over 80 non-governmental organizations have urged corporations to exclude carbon offsets from their transition plans, arguing […]
Luxcara, an independent German asset manager for clean energy infrastructure projects, announced that it has signed a “preferred turbine supplier”. The asset manager has signed […]
Genex Power announced that it has secured a five-year $107 million senior debt facility for its 50MW Kidston and Jemalong solar projects in Australia. The […]