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Shell and IAG spearhead LanzaJet capital raise

Shell and IAG spearhead LanzaJet capital raise

LanzaJet secures $47 million to expand SAF technology deployment. The funding round, led by IAG and Shell, supports LanzaJet’s efforts to advance waste-based ethanol conversion into low-carbon jet fuel, including a UK grant for a Teesside biorefinery.

LanzaJet, a company specialising in sustainable aviation fuel (SAF) technology, has announced the successful raising of $47 million. This sum includes the initial close of a new equity financing round and a grant from the UK, aimed at bolstering the commercial application of its technology that converts waste-based ethanol into low-carbon jet fuel.

This funding round, which values LanzaJet at a pre-money enterprise value of $650 million, is co-led by International Airlines Group (IAG) and Shell. LanzaJet is targeting a total of $135 million for the equity round. Founded in 2020 by LanzaTech, the Illinois-based company has developed an “Alcohol-to-Jet” technology. This innovation facilitates the production of SAF and renewable diesel from sustainable ethanol sources, such as low-carbon sugarcane, energy crops, and organic waste.

In November 2025, LanzaJet announced the full operation of its Freedom Pines Fuels facility in Soperton, Georgia. The company has invested over $300 million in this facility, which can produce up to 10 million gallons per year of SAF and renewable diesel. LanzaJet has secured offtake agreements for the next decade. A new tolling structure has been introduced at the facility, with a commitment to use low-carbon, waste-based ethanol and renewable natural gas, ensuring a secure feedstock supply and guaranteed production offtake.

LanzaJet has also received a significant grant from the UK Department for Transport’s Advanced Fuels Fund to accelerate its Project Speedbird, a SAF biorefinery planned for Teesside. Additional investors in the equity financing include Groupe ADP, LanzaTech, and Mitsui, all of whom have previously invested in the company.

LanzaJet CEO Jimmy Samartzis commented on the fundraising, stating that the support from existing investors underscores their confidence in the technology and highlights LanzaJet’s commitment to creating economic opportunities and shaping the future of transportation fuels.

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BQ

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