A new finance agreement between LanzaTech, a company dedicated to turning waste carbon into materials, and Brookfield Renewable has been revealed.
The initial $500 million investment will be used to jointly develop and build new, large-scale commercial production facilities that will make use of LanzaTech’s Carbon Capture and Transformation (CCT) technology.
The Brookfield Global Transition Fund (BGTF), which focuses on energy transitions, will provide the funding.
Brookfield will now serve as LanzaTech’s top choice for a capital partner for its CCT operations in Europe and North America.
Additionally, the company stated in a press release that if the projects reach predetermined milestones, the renewable energy company may invest an extra $500 million in the strategic alliance.
It will also provide an additional $50 million to LanzaTech’s business expansion.
Steel mills affiliated with LanzaTech have been able to transform emissions into things like garments, fragrances, and household cleaning goods by using the company’s carbon transformation technology.
The business most recently collaborated with On on a pair of shoes using carbon emissions as the primary raw material.
Natalie Adomait, managing partner and chief investment officer of BGTF, said that LanzaTech’s technology gives a new way to decarbonize economically challenging areas. They see this as a great chance to hasten the deployment of this technology at scale and to work with others to expand in a newly developing sector of infrastructure in a decarbonized economy.
Gebrüder Otto has partnered with the Recycling Atelier at ITA Augsburg to create cotton towels using yarns made from 50%…
Scientists have found a way to turn textiles into energy sources by creating a unique silk thread coated with a…
The LYCRA Company has introduced its newest advancement for pantyhose waistbands, called LYCRA® TOP COMFORT fiber.
Lenzing Nonwovens has expanded its LENZING Lyocell Dry fiber range with two new cellulosic fibers: a fine dry fiber and…
Digital identification expert Avery Dennison has launched a new platform designed to increase transparency across brand and manufacturing supply chains.
Traceability platform provider Aware has announced a collaboration with Baichuan Resources Recycling, a leader in recycled polyester, yarn, and fabric…