LanzaTech and Woodside Energy Announce Strategic Collaboration

CHICAGO, Oct. 24, 2022 (GLOBE NEWSWIRE) -- Woodside Energy (ASX: WDS) and LanzaTech NZ, Inc. (LanzaTech), a US-based carbon capture and transformation company, have announced a strategic collaboration with the signing of a Strategic Framework Agreement.

Under the Strategic Framework Agreement Woodside will, in collaboration with LanzaTech and subject to a positive final investment decision, design, construct, own, maintain and operate pilot facilities relating to LanzaTech’s technologies. The Strategic Framework Agreement also allows Woodside and LanzaTech to explore opportunities for the potential commercial scale-up of LanzaTech’s technology, which seeks to convert greenhouse gas emissions into new products.

In conjunction, Woodside has entered into a Subscription Agreement for a US$50 million investment in the common stock private investment in public equity (PIPE) of AMCI Acquisition Corp. II (AMCI) (Nasdaq: AMCI), with which LanzaTech is expected to merge in a previously announced business combination transaction. The Strategic Framework Agreement and Woodside’s PIPE investment are conditional on closing of the proposed business combination between LanzaTech and AMCI. Upon closing, the combined company is expected to trade on Nasdaq under the ticker symbol “LNZA”.

Woodside’s investment is a major milestone for the LanzaTech and AMCI business combination. The collaboration with Woodside is expected to unlock significant value for LanzaTech, allowing LanzaTech to expand the applications of its technology to different feedstocks and rethink waste management systems.