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LanzaTech Global (NASDAQ: LNZA) has appointed Kate Walsh as Vice President of Investor Relations, effective May 20, 2024. Walsh brings nearly 15 years of experience in investor relations and finance, primarily in the energy sector. She will drive LanzaTech's financial communications strategy and engage with investors and analysts. The company's CFO, Geoff Trukenbrod, highlighted that Walsh's expertise comes at a pivotal time as LanzaTech scales its carbon recycling solutions and expands its customer base and geographical reach. Walsh previously served in senior roles at Enviva, EnLink Midstream, and Niska Gas Storage Partners. She is a Chartered Professional Accountant and holds a Bachelor of Commerce degree from Dalhousie University.
LanzaTech reported total revenue of $10.2 million for the first quarter of 2024, matching annual guidance. They reiterated the full-year 2024 outlook with revenue expected to be $90 - $105 million. The company achieved impressive growth in its CarbonSmart and Joint Development Agreements businesses. LanzaTech's gross profit increased by 87% year-over-year, reaching $3.5 million, with a gross margin of 34%. Operating expenses declined by 14% year-over-year but increased quarter-on-quarter. The net loss for the first quarter was $(25.5) million. LanzaTech's Project SECURE received up to $200 million investment from the US Department of Energy. The company's Sustainable Aviation Fuel momentum is strong, with a new facility on track for production. LanzaTech's project development pipeline is expanding, adding new qualified projects. An organizational streamlining initiative is underway, aimed at reducing costs and improving efficiency. With $92.3 million in cash, restricted cash, and investments, LanzaTech is well-positioned to execute its objectives.