Jennifer Holmgren. Photo / Supplied
Auckland's LanzaTech, which has developed a proprietary microbe that converts industrial waste gases into valuable chemicals such as fuel-grade ethanol, has entered a partnership with one of Japan's biggest firms.
Chief executive Jennifer Holmgren said the deal would allow LanzaTech's gas fermentation technology to be introduced throughout Mitsui & Co,
a Tokyo-based conglomerate with various interests including iron and steel manufacturing.
She said the agreement gave LanzaTech access to growth opportunities outside Asia with firms Mitsui worked with globally, from North and South America to Europe.
"This [agreement] has the potential for them [Mitsui] and us to work with third parties all over the world where our technology may be relevant.
"With a comprehensive strategy on energy and the environment and a track record for being a catalyst to investments across a range of industries, Mitsui will allow LanzaTech to globally deploy low-carbon industrial solutions to meet changing needs."
The partnership with Mitsui follows similar agreements with industrial corporations in China and other countries.
LanzaTech was likely to earn its first revenues in 2013 through its partnership with China's Baosteel, Holmgren said.
She said Lanzatech's board was discussing where and when it would carry out a planned initial public offering.
"Any time next year into early 2013 is when we'd look to go public."
Holmgren would not be drawn on where exactly Lanzatech was planning its listing, but market and biotech sources have suggested that exchanges in the United States, China or Australia would make more sense than the NZX.
The company's backers include Stephen Tindall's K1W1 fund, US venture capital fund Khosla Ventures and Shanghai's Qiming Ventures.
