Connect with us

Travel

SAF supplier LanzaJet boosted by new Microsoft investment

Published

on

Sustainable aviation fuel producer LanzaJet has secured further funding from software giant Microsoft to help it expand globally.

LanzaJet is pioneering the conversion of ethanol into SAF and opened a production facility in the US state of Georgia earlier this year, which will manufacture 10 million gallons of SAF and renewable diesel annually.

The US-based company, which is also backed by British Airways, has now secured more investment from the Microsoft’s Climate Innovation Fund, which follows Microsoft’s previous funding of $50 million into LanzaJet in 2022. Further financial details of Microsoft’s latest investment were not revealed.

LanzaJet said the new funding would allow the company to “build its capability and capacity to deploy its sustainable fuels process technology globally”.

As part of the deal, Microsoft will also use its data and artificial intelligence (AI) capabilities to improve LanzaJet’s corporate functions and SAF production processes.

Jimmy Samartzis, CEO of LanzaJet, added: “Our continued alignment with Microsoft allows LanzaJet to build our team and capability at pace to support global deployment of our leading sustainable fuels process technology

“Through its support of LanzaJet’s first-of-a-kind ethanol to SAF biorefinery, LanzaJet Freedom Pines Fuels, Microsoft has played a significant role in making SAF production a reality in the United States, and this investment reemphasises its urgent commitment to decarbonisation of hard-to-abate sectors.”

The deal gives Microsoft access to sustainable fuels as well as SAF certificates on future LanzaJet projects. The technology firm wants to become carbon negative by 2030.

Last year, Microsoft agreed a 10-year contract with World Energy to buy SAF certificates, which allow corporates to reduce their CO2 emissions from business travel, even if the flights being used by travellers are not burning SAF in their engines. It has also agreed a deal to co-fund SAF purchases with British Airways’ parent company IAG.

Brandon Middaugh, senior director of Microsoft’s Climate Innovation Fund, added: “Microsoft is investing in partners who share our commitment to advancing a net-zero economy and who are building the market for critical solutions like SAF and renewable diesel.”

Continue Reading