Woodside to collaborate with US carbon transformation company
Australia’s Woodside Energy said October 24 it had entered into a strategic framework agreement with US-based LanzaTech, which is developing technology to convert greenhouse gas emissions into new products.
Under the agreement, the two will – subject to positive final investment decisions – design, construct, own and operate pilot facilities using LanzaTech’s technologies. They will also explore opportunities for the potential commercial scale-up of those technologies.
Alongside the agreement, Woodside has also agreed to invest US$50mn (A$79.4mn) in AMCI Acquisition Corp II, with which LanzaTech is expected to merge in a previously-announced business combination transaction. The strategic framework agreement and Woodside’s investment in ACMI are contingent the successful closing of the business combination.
“As the energy transition advances, we anticipate increasing demand for carbon capture, utilisation and storage (CCUS),” Woodside CEO Meg O’Neill said. “LanzaTech have an innovative approach towards not just reducing greenhouse gas emissions but transforming them into useful products.”
LanzaTech’s first two commercial scale gas fermentation plants have produced more than 40mn gallons of ethanol, which is the equivalent of offsetting the release of 200,000 metric tons of CO2. Additional plants are under construction globally.