LanzaTech receives funding for research

Auckland-based LanzaTech New Zealand Ltd., won the first major contract worth NZ$12 million (US$9.3 million) awarded under the Foundation for Research, Science and Technology’s Low Carbon Energy Technologies fund. This is one of the most exciting projects of its kind we have invested in, with great potential to reduce our carbon emissions,” said foundation Chief Executive Murray Bain. It was one of 96 contracts worth a total of NZ$438 million (US$338 million) over six years awarded by the foundation. LanzaTech founder Sean Simpson said the three-year contract would allow further development in its biofuels research. The funding allowed the research to explore alternatives to get around the drawbacks of ethanol. Lanza aims to commercially make biofuel out of fuel gas from factories. (July 15, 2008)