LanzaJet, a sustainable aviation fuel technology company and fuels producer, announced the first close of a $135 million target equity investment round at a $650 million pre-money enterprise valuation, securing a combined $47 million in capital alongside a previously awarded UK government grant.
The round is co-led by International Airlines Group and Shell, with participation from Groupe ADP, LanzaTech, and Mitsui. All are existing shareholders increasing their investments to support LanzaJet’s growth and operations at LanzaJet Freedom Pines Fuels in Soperton, Georgia, described as the world’s first fully integrated, commercial-scale ethanol-to-fuels plant.
The company said the continued backing from industry leaders reflects strong confidence in sustainable aviation fuel and its proprietary Alcohol-to-Jet technology. The new financing will support both existing and future commercial deployments of the technology, enabling LanzaJet to advance its portfolio of global opportunities.
Separately, LanzaJet previously received a substantial grant from the UK Department for Transport’s Advanced Fuels Fund to accelerate development of Project Speedbird, a major sustainable aviation fuel biorefinery in Teesside, United Kingdom. Together, the first close of the equity round and the grant provide the company with $47 million in capital.
At the end of 2025, LanzaJet announced that it had fully operated and produced ASTM on-spec fuels at LanzaJet Freedom Pines Fuels, marking what it described as the world’s first production of jet fuel using ethanol as a feedstock at a commercial-scale plant and the first non-oil-based scalable renewable solution compatible with today’s aircraft.
As part of the funding round, LanzaJet is entering into a multi-year tolling structure at its Freedom Pines facility. Under the agreements, the company will use low carbon, waste-based ethanol produced domestically in the U.S., along with renewable natural gas from a regional plant, to produce low carbon sustainable aviation fuel and renewable diesel fuel. The tolling structure secures feedstock supply and guarantees offtake of all production at the plant.
In conjunction with the financing, LanzaJet said it has optimized its ownership and governance structure to support growth, enable efficient decision-making, and position the company to attract additional investors in the future.
Perella Weinberg is serving as exclusive financial advisor to LanzaJet.
KEY QUOTES
“We’re at a pivotal moment at LanzaJet. At the end of 2025, we announced that we fully operated and produced ASTM on-spec fuels at LanzaJet Freedom Pines Fuels – marking both the world’s first production of jet fuel using ethanol as a feedstock at a commercial-scale plant, and the first non-oil-based scalable renewable solution compatible with today’s aircraft. The decision by our existing investors to lead this fundraising round reaffirms their conviction in our technology and sends a strong signal to the entire industry that LanzaJet is committed to unlocking new value for ethanol, creating opportunity for economic development, and defining the future of fuels for transportation,”
Jimmy Samartzis, Chief Executive Officer of LanzaJet
