LanzaTech Global (NASDAQ: LNZA) and Olayan Financing Company (OFC) have established a joint venture in Saudi Arabia to expedite the adoption of LanzaTech's carbon recycling technology in challenging industries. This partnership aims to facilitate the widespread use of LanzaTech's technology in the Middle East and Saudi Arabia, particularly in sectors striving for decarbonization. They will work on projects using various waste carbon sources, including industrial gases and solid waste, and explore the production of sustainable aviation fuel.

Energy-intensive industries will employ LanzaTech's biorecycling technology to cut carbon emissions, create new revenue streams, and transition towards more environmentally friendly business models. The joint venture will offer decarbonization solutions to customers and asset owners in Saudi Arabia and the Middle East, leveraging LanzaTech's expertise and recycled carbon materials to reduce supply chain emissions and meet the growing demand for sustainability.

Dr. Jennifer Holmgren, CEO of LanzaTech stated: “Through this joint venture we can get more steel in the ground and more plants online to capture and recycle waste carbon.”

Headquartered in Illinois, LanzaTech’s goal is to challenge and change the way the world uses carbon, enabling a new circular carbon economy where carbon is reused rather than wasted.

Shares of LanzaTech Global trade on the NASDAQ under the ticker symbol LNZA.