LanzaTech And Brookfield Form Strategic Partnership With An Initial $500M Commitment NOTE: Lanzatech Has Entered Into A Merger Agreement For A Business Combination Transaction With AMCI Acquisition Corp. II

CHICAGO, Oct. 03, 2022 (GLOBE NEWSWIRE) -- LanzaTech NZ, Inc. ("LanzaTech"), an innovative Carbon Capture and Transformation ("CCT") company that transforms waste carbon into materials such as sustainable fuels, fabrics, packaging, and other products that people use in their daily lives, announces today a funding partnership with Brookfield Renewable, and its institutional partners, to co-develop and build new commercial-scale production plants that will employ LanzaTech's CCT technology, which transforms captured carbon into valuable raw material commodities.
 

The funding partnership commits an initial $500 million to be invested by Brookfield Renewable in constructing and operating new CCT projects that have achieved certain pre-agreed milestones. The funding will be provided through the Brookfield Global Transition Fund ("BGTF"), which is the largest fund in the world focused on the energy transition. Brookfield will be LanzaTech's preferred capital partner for LanzaTech CCT opportunities in Europe and North America and following initial investments totaling $500 million, Brookfield could commit to making an additional $500 million available for investments in the strategic partnership if sufficient projects are available at the agreed milestones. Brookfield will also invest $50 million in LanzaTech to support further corporate development.

"LanzaTech's technology provides a new way to decarbonize hard-to-abate sectors across the economy," said Natalie Adomait, Managing Partner and Chief Investment Officer of BGTF. "We view this as an attractive opportunity to accelerate deployment of this technology at scale and be a partner to grow in an emerging area of infrastructure in a decarbonized economy."

"Creating a new carbon economy will require new ways of financing technology scale up and deployment," said Jennifer Holmgren, CEO of LanzaTech. "We are excited to partner with Brookfield to accelerate deployment and achieve exponential growth. Together, we have the potential to target significant commodity markets and keep fossil resources in the ground. Each additional plant deployed has the potential to keep the equivalent of around 100,000 tons of carbon from the atmosphere each year. This is the new carbon economy in action!"

LanzaTech converts carbon through the power of biology, using a biocatalyst to transform emissions into fuels and chemicals. Through application of their technology, steel mill emissions have been converted into sustainable aviation fuel, clothing ranges, laundry detergent, household cleaner and fine fragrances. LanzaTech creates industrial symbioses where the emissions from heavy industry can be used by consumer goods companies to make products that would otherwise come from fossil inputs. LanzaTech aims to contribute to a world where your plane is powered by recycled GHG emissions, and your shampoo bottle started life as emissions from a steel mill.

About LanzaTech

LanzaTech harnesses the power of biology and big data to create climate-safe materials and fuels. With expertise in synthetic biology, bioinformatics, artificial intelligence and machine learning coupled with engineering, LanzaTech has created a platform that converts waste carbon into new everyday products that would otherwise come from virgin fossil resources. LanzaTech's first two commercial scale gas fermentation plants have produced over 30 million gallons of ethanol, which is the equivalent of offsetting the release of over 150,000 metric tons of CO2 into the atmosphere. Additional plants are under construction globally. LanzaTech is based in Illinois, USA. For more LanzaTech company news, visit lanzatech.com.

As previously announced, LanzaTech has entered into a merger agreement for a business combination transaction (the "Business Combination") with AMCI Acquisition Corp. II (NASDAQ:AMCI) ("AMCI"). Upon closing, the combined company is expected to trade on Nasdaq under the ticker symbol "LNZA".

About Brookfield Renewable

Brookfield Renewable operates one of the world's largest publicly traded, pure-play renewable power platforms. Its portfolio consists of hydroelectric, wind, solar and storage facilities in North America, South America, Europe and Asia, and totals approximately 24,000 MW of installed capacity and an approximately 100,000 MW development pipeline.

Brookfield Renewable is the flagship listed renewable power company of Brookfield Asset Management, a leading global alternative asset manager with approximately $750 billion of assets under management.

The Brookfield Global Transition Fund, co-led by Mark Carney, Brookfield Vice Chair and Head of Transition Investing, and Connor Teskey, CEO of Brookfield Renewable, is Brookfield's inaugural impact fund focusing on investments that accelerate the global transition to a net-zero carbon economy, while delivering strong risk-adjusted returns to investors. The Fund targets investment opportunities relating to reducing greenhouse gas emissions and energy consumption, as well as increasing low-carbon energy capacity and supporting sustainable solutions. Consistent with its dual objectives of earning strong risk-adjusted returns and generating a measurable positive environmental change, the Fund will report to investors on both its financial and environmental impact performance.