04/06/2021
, the company commercializing a process to convert alcohol into synthetic jet fuel, is having a good week.
Energy giant Shell has joined a slew of strategic investors including , Suncor Energy, , and British Airways in the funding round.
Terms of the initial investment, or LanzaJet's valuation after the commitment, were not disclosed.
LanzaJet aims to aide the aviation industry in pursuit of achieving net-zero emissions.
"LanzaJet's technology opens up a new and exciting pathway to produce SAF using an AtJ process and will help address the aviation sector's urgent need for SAF. It demonstrates that the industry can move faster and deliver more when we all work together," said Anna Mascolo, President, Shell Aviation, in a statement. "Provided industry, government and society collaborate on appropriate policy mechanisms and regulations to drive both supply and demand, aviation can achieve net-zero carbon emissions. The strategic fit with LanzaJet is exciting."