Mitsubishi UFJ Financial Group Inc (MUFG) has participated in a USD 100 million equity funding round to support LanzaJet's expansion of sustainable aviation fuel (SAF) production.
LanzaJet, headquartered in Illinois, announced the funding on Tuesday, aiming to scale up its ethanol-to-SAF process technology. Earlier this year, LanzaJet inaugurated the world's first ethanol-to-SAF production facility, LanzaJet Freedom Pines Fuels, in Soperton, Georgia. The facility is expected to produce 10 million gallons of SAF and renewable diesel annually from sustainable and low-carbon ethanol sources.
The investment round signifies a pivotal step in advancing LanzaJet's mission to meet the rising demand for eco-friendly aviation fuels. Supported by major stakeholders like Southwest Airlines, Microsoft, and Groupe ADP, LanzaJet has attracted investments from All Nippon Airways (ANA), Breakthrough Energy, British Airways, Mitsui & Co, Shell, and Suncor Energy.
In March, Southwest Airlines committed USD 30 million to LanzaJet, outlining plans for a new SAF facility geared towards supplying the airline's operations.
