Qiming Venture Partners' portfolio company LanzaTech Lists on Nasdaq

Rhea-AI Summary

LanzaTech NZ, Inc. completed its business combination with AMCI Acquisition Corp. II and began trading on Nasdaq as LanzaTech Global, Inc. (NASDAQ: LNZA) on February 10, 2023. The IPO was priced at $10.00 per share, valuing the company at $2 billion. LanzaTech specializes in carbon capture technology, converting waste carbon into sustainable fuels and materials. It has launched commercial carbon refining plants, producing over 47 million gallons of ethanol and mitigating over 240,000 tons of CO2. The company collaborates with brands like Lululemon and Unilever to promote sustainable solutions.

Positive

• Successfully listed on Nasdaq with a market cap of $2 billion.
• Has launched multiple commercial plants to produce sustainable fuels and mitigate CO2 emissions.

Negative

• None.

SHANGHAI, Feb. 10, 2023 /PRNewswire/ -- LanzaTech NZ, Inc. ("LanzaTech"), an innovative leader in carbon capture and transformation and a Qiming Venture Partners portfolio company, listed on Nasdaq on Feb 10 Beijing time, following the completion of its business combination with AMCI Acquisition Corp. II ("AMCI"), a special purpose acquisition company. The combined company will operate as LanzaTech Global, Inc. (NASDAQ: LNZA). It issued at $10.00/share representing a market cap of $2 billion.

As LanzaTech's early investor, Qiming led the company's series B round of financing in 2010 and followed on its Series C and D rounds. The successful listing is Qiming's 4th IPO in 2023 and first SPAC IPO.

LanzaTech is a pioneer in using nature-based carbon refining technology to transform waste carbon into materials such as sustainable fuels, fabrics, and packaging that people use in their daily lives. Through licensing and co-development collaboration models, LanzaTech partnered with Shougang Group and launched the world's first commercial carbon refining plant at the Jingtang Steel Mill in Caofeidian in Hebei Province, China in 2018, and have subsequently added two commercial plants operating in China, with total production of over 47 million gallons of fuel grade ethanol and mitigation of over 240,000 tons of CO2. There are 14 additional plants being developed worldwide, 12 of which are commercial-scale and two are demo-scale.

As sustainability becoming a global consensus, more companies are pledging carbon-neutral or zero-carbon goals, and environment-conscious consumer market is growing rapidly. LanzaTech partnered with major brands such as Lululemon, Total and L'Oreal, and Unilever to deliver world's first sustainable packaging and materials leveraging captured carbon emissions instead of fossil fuels, supporting and creating a more sustainable future.

"The successful IPO marks a new milestone for LanzaTech. We look forward to more success by LanzaTech's cutting-edge technology solution to help achieve green manufacturing and carbon neutrality goals." Said Gary Rieschel, Founding Managing Partner of Qiming Venture Partners.

About Qiming Venture Partners

Founded in 2006, Qiming Venture Partners is a leading China venture capital firm with offices in Shanghai, Beijing, Suzhou, Hong Kong, Seattle, Boston and the San Francisco Bay Area.

Currently, Qiming Venture Partners manages eleven US Dollar funds and seven RMB funds with $9.4 billion in capital raised. Since our establishment, we have invested in outstanding companies in the Technology and Consumer (T&C) and Healthcare industries at the early and growth stages.

Since our debut, we have backed over 480 fast-growing and innovative companies. Over 180 of our portfolio companies have achieved exits through IPOs at the NYSE, NASDAQ, HKEX, Shanghai Stock Exchange or Shenzhen Stock Exchange, or through M&A or by other means. There are also over 70 portfolio companies that have achieved unicorn status.

Many of our portfolio companies are today's most influential firms in their respective sectors, including Xiaomi, Meituan, Bilibili, Zhihu, Roborock, Gan & Lee Pharmaceuticals, Tigermed, Zai Lab, CanSino Biologics, Schrödinger, APT Medical, New Horizon Health, Venus MedTech, Sanyou Medical, AmoyDx, Berry Genomics, SinocellTech, Yuanxin Technology, Caidya, Belief BioMed, WeRide, Biren Technology and UBTech among many others.

 

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SOURCE Qiming Venture Partners

FAQ

What is the market cap of LanzaTech after its IPO on February 10, 2023?

LanzaTech has a market cap of $2 billion following its IPO.

What is the stock symbol for LanzaTech on Nasdaq?

LanzaTech trades under the stock symbol LNZA on Nasdaq.

How much was LanzaTech's IPO priced at?

LanzaTech's IPO was priced at $10.00 per share.

What sustainable products does LanzaTech produce?

LanzaTech produces sustainable fuels, fabrics, and packaging from waste carbon.

Which brands has LanzaTech partnered with for sustainable solutions?

LanzaTech has partnered with brands such as Lululemon, Unilever, and Total.