LanzaTech has made it to number 48 in Forbes Top 100 list of America’s most promising privately held companies, the only cleantech/bioscience firm in the top 50.
Dr Jennifer Holmgren, chief executive of LanzaTech, said: “The recognition is validation of our approach to reducing emissions through innovative technology and solid partnerships with major players in industries around the world."
Forbes said the final assessment for its Top 100 most promising list was determined by variables including growth, quality of management, team and investors, margins, market size and key partnerships.
Forbes also teamed up with CB Insights, a firm that tracks investment in high-growth private companies, and used that alongside industry data on competitors, growth rates and merger activity to score each company. From there, editors verified sales numbers, spoke with each company, internally debated “merits and blemishes” and produced a final ranking.
LanzaTech was founded in New Zealand and retains its R&D base here, although its headquarters are now based in Illinois.
LanzaTech has developed technology that converts waste gases into fuels and chemicals.
Last year it became the first company ever to scale gas fermentation technology to a pre-commercial level. Working closely with Baosteel, a major Chinese steel producer, LanzaTech successfully operated a facility with an annualised production capacity of 100,000 gallons of ethanol. The partners are now planning construction of a commercial facility.