LanzaJet announced $47m equity investment round co-led by IAG, Shell

Next-generation fuels technology company LanzaJet announced the first close of its $135m target equity investment round co-led by IAG and Shell, with participation from Groupe ADP, LanzaTech and Mitsui.

The equity investment comes at a $650m pre-money enterprise valuation.

All of the investors are expanding their investment in LanzaJet’s growth and operations at LanzaJet Freedom Pines Fuels in Soperton, Georgia, USA.

The financing will support existing and future commercial deployments of its ATJ technology, allowing LanzaJet to capitalize on its deep portfolio of global opportunities.

“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,” said Jimmy Samartzis, chief executive officer of LanzaJet.

As part of this round, LanzaJet is entering into an innovative multi-year tolling structure at its LanzaJet Freedom Pines Fuels facility.

Under the tolling agreements, LanzaJet will use a low carbon, waste-based ethanol produced domestically in the US, along with renewable natural gas from a regional plant, to produce low carbon SAF and renewable diesel fuel.

In conjunction with this round, LanzaJet optimized its ownership and governance structure to enable effective and efficient decision-making, support its growth, and position the company to attract future investors.

Perella Weinberg served as exclusive financial advisor to LanzaJet.