LanzaTech spins out LanzaX joint venture with Tharis Capital to accelerate project development.

From GlobeNewswire: 2025-01-21 20:45:04

LanzaTech announces plans to spin out LanzaX, a growth-oriented joint venture focused on synthetic biology, with Tharsis Capital as a strategic partner. The company also appoints a new Interim Chief Financial Officer to streamline operations. The joint venture aims to accelerate project development and access capital for new chemical initiatives. LanzaX will leverage LanzaTech’s expertise in scaling ethanol production and reduce costs by transferring employees. The strategic move is expected to be completed in 2025, with financial benefits realized in 2026. Tharsis Capital joins forces with LanzaTech to drive sustainable chemical production and establish LanzaX as a global leader in biochemistry.

As part of the spin-out, Justin Pugh is appointed as Interim Chief Financial Officer to implement cost reductions and support the company’s growth strategy. Pugh brings over 15 years of experience in finance and renewable energy sectors. LanzaTech CEO Dr. Jennifer Holmgren praises Pugh’s expertise and anticipates his role in refining the company’s financial operations. LanzaTech also expresses gratitude to outgoing CFO Geoff Trukenbrod and initiates a search for a permanent replacement. The company’s strategic moves aim to strengthen its financial foundation and accelerate growth in sustainable fuels and chemicals industries.



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