Petronas LanzaTech recycle CO2 into sustainable chemicals

Petronas and LanzaTech to recycle CO2 into sustainable chemicals

7:21 AM, 15th October 2012
Petronas and LanzaTech to recycle CO2 into sustainable chemicals
Jennifer Holmgren, CEO, LanzaTech.

ROSELLE, US/KUALA LUMPUR, MALAYSIA: Petronas and LanzaTech will work together to accelerate development and commercialization of technologies to produce sustainable chemicals from carbon dioxide (CO2) and natural gas.

Petronas and LanzaTech will work together to extend this technology to include carbon dioxide (CO2) containing gases from a variety of sources including refinery off gases and natural gas wells to produce acetic acid, a high value chemical with applications in the polymers and plastics markets.

The agreement blends Petronas’ experience and assets in the petroleum industry with LanzaTech’s gas fermentation technology to create an economical and sustainable source of high value chemicals.

“Petronas and LanzaTech have the ability to significantly impact the future of carbon capture by fundamentally changing the way we deal with waste CO2. Rather than trying to sequester carbon deep into the earth, we will ‘bury’ it in a chemical. In this way, companies can not only comply with emissions reduction requirements, but also generate revenue along the way,” said Jennifer Holmgren, CEO, LanzaTech.

The joint development agreement builds on the relationship between the two companies when Petronas Technology Ventures SdnBhd (PTVSB), the venture arm of PETRONAS, invested in LanzaTech’s Series C round. “Petronas will benefit from the integration of LanzaTech’s technology in multiple areas of our business. This is a natural extension of LanzaTech’s core gas fermentation technology and is a natural fit with Petronas’ commitment to achieving a sustainable future for all,” said Haida Shenny Hazri, CEO, PTVSB.

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