Lanzatech - landing the big investment fish
Founded in 2005, Lanzatech creates valuable fuels and commercial chemicals by converting carbon monoxide from industries such as steel manufacturing, oil refining and chemical production. The company initially survived on funding through New Zealand-based angel investors, including K1W1, alongside innovation grant money from the government. It then came to the attention of US and Chinese venture capital funds. In 2012, a Malaysianled consortium also invested, along with two major oil companies. A few months later Lanzatech secured another US$15 million (NZD$18.3m) in funding from a Silicon Valley investment firm. To date the company has raised more than US$100 million, and has indicated it may issue public shares via listing on the NZX stock exchange in the future.