LanzaTech has picked up a spot on Bloomberg New Energy Finance's list of 2012 New Energy Pioneers for its proprietary fermentation process that converts gases (including industrial waste gases and gas derived from any biomass source) into fuels and chemicals.
LanzaTech was one of 10 companies named at the fifth annual Bloomberg New Energy Finance Summit in New York.
An independent panel of industry experts from banking, academia, corporations, utilities and technology assessed nominated companies against three criteria: potential scale, innovation and momentum.
This year’s winners represent a broad range of industries including bioenergy, energy storage, electric vehicles, smart grid, solar and water. The other winners include CleanPower Finance (US), Ecotality (US), Emefcy (Israel), Maxwell (US), SilverSpring (US), Smarter Grid Solutions (UK), Tendril (US), Va-Q-Tec (Germany) and Xtreme Power (US).
The judges said each of the companies has innovative, proven technologies, robust business models, the ability to demonstrate traction and momentum in their activities and the potential for global scale.
Michael Liebreich, summit chairman and head of Bloomberg New Energy Finance, says it has been a tough year for the clean energy sector, with severe pressure on the profit margins of manufacturers, a sharp fall in share prices, some notable bankruptcies, cuts in European government subsidy support, and a reduction in the availability of bank finance.
"Despite this, the quality and volume of applicants we received for the 2012 Pioneers programme was higher than ever – a testimony to the strength of the forces driving the sector and to the sort of high-quality entrepreneurs which it has been attracting over the past few years."