Lan­za­tech - land­ing the big in­vest­ment fish

Element - - Business -

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.

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