New Zealand bio-fuel company LanzaTech has been recognised as a world-leader in energy innovation. The company is one of ten from around the world to be selected as a 2012 Bloomberg New Energy Pioneer.

Jennifer Holmgren, LanzaTech's chief executive said the company was "honoured to be given the prestigious award, which recognises LanzaTech's technology as a game changer for the energy future."

LanzaTech develops proprietary microbe technology which converts industrial waste gases into valuable chemicals including ethanol, used to make biofuel.

Each year Bloomberg New Energy Finance picks companies from around the world which it thinks "make significant gains in the field of clean technology and innovation."

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The company, which has its scientific base in Parnell recently announced a new agreement with New Zealand Steel to extend a pilot project converting waste gas to low carbon fuels and chemicals.

The agreement gave NZ Steel and its Australian parent company Bluescope Steel the opportunity to use LanzaTech's technology commercially.

NZ Steel president Simon Linge said the agreement would help build the company's investments towards a sustainable manufacturing business.

HERALD ONLINE