LanzaTech Global, Inc., a carbon management solutions company, announced that Beijing Shougang LanzaTech Technology Co., Ltd., a joint venture in which LanzaTech held a 9.31% equity stake prior to the offering described below, has launched its Initial Public Offering (IPO) of 40 million H-Shares at a public offering price equivalent to approximately US$1.86 per share, based on applicable exchange rates, on the Hong Kong Stock Exchange. The offering raised gross proceeds of approximately US$75M before underwriting discounts and commissions.
Based on the offering price, the JV had an implied market capitalization of approximately US$750M upon listing. The JV’s ordinary shares commenced trading today on the Hong Kong Stock Exchange, under the stock code 02553. Following completion of the offering, the Company held, through its subsidiary, 33,520,231 H Shares of Shougang LanzaTech, representing approximately 8.38% of the JV’s total issued share capital upon listing.
The listing underscores the commercial potential of LanzaTech’s carbon recycling platform, which converts industrial emissions into fuels and materials. The JV operates four facilities with LanzaTech technology and per the IPO prospectus, revenue has ranged between approximately US$87-$77 million annually from 2023-2025, entering the public market with proven deployment and exposure to growing demand for fuels produced through more secure and diversified supply chains.
One of the strongest opportunities for the JV is the conversion of this waste-derived ethanol-to-SAF, where commercially proven pathways can unlock access to high-value regulated fuel markets.
“This IPO- Jennifer Holmgren, CEO of LanzaTech, said – highlights the growing commercial potential of carbon recycling. Our technology is already operating at scale, turning emissions into valuable products and creating a platform for growth in fuels, including SAF, as global markets seek lower-carbon, more resilient supply options with less exposure to geopolitical disruption.”
The IPO also supports LanzaTech’s strategy to capture value through both technology licensing and equity participation in commercial projects. As these projects scale, they are expected to support the production of internationally certified fuels and help build more resilient, lower-risk fuel supply in markets seeking alternatives to conventional routes.
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