CHICAGO, July 19, 2023 (GLOBE NEWSWIRE) -- GAIL (India) Limited, India’s largest natural gas company and LanzaTech Global, Inc., (Nasdaq: LNZA)—an innovative carbon capture and utilization (“CCU”) company that converts waste carbon into products that people use in their daily lives—have entered a partnership to explore innovative technology solutions that advance GAIL’s Net Zero 2040 goals and have the potential to support wider decarbonization applications globally.
GAIL and LanzaTech will explore setting up a pilot scale CO2 capture and conversion project that has the potential to be a role model for converting CO2 into useful materials instead of emitting it to the atmosphere. Combining LanzaTech’s carbon capture and utilization technology with GAIL’s renewable H2 and CO2 gas streams, the project will enable resource utilization where the building blocks of everyday consumer goods, from fuels to packaging and clothing, can be made from biorecycled material instead of virgin fossil fuel.
"The possibilities coming out of this collaboration with LanzaTech are very promising and significant to improving our carbon footprint,” said Sandeep Kumar Gupta, Chairman and Managing Director of GAIL. “Using LanzaTech's cutting-edge technology will enhance our environmental stewardship and open up new avenues for driving sustainability across our operations.”
"Waste CO2 can be used to make the things we need,” said Dr. Jennifer Holmgren, LanzaTech’s CEO and Board Member of the US-India Strategic Partnership. “By combining LanzaTech's expertise in carbon recycling with GAIL's commitment to reducing emissions and implementing renewable projects, this project has the potential to turn CO2 from an environmental liability to a value added product. CO2 can be the raw material of the future, enabling fossil carbon to stay underground. We look forward to launching our collaboration with GAIL to make this vision a reality.”
LanzaTech’s biorecycling technology works like a brewery: proprietary bacteria consume carbon-rich pollution from industrial facilities and convert it into CarbonSmart™ chemicals to create rubber, plastics, synthetic fibers, and fuels. These materials form the building blocks for consumer products such as clothing, laundry detergent, and sustainable aviation fuel (“SAF”). LanzaTech’s technology platform is designing a future where consumers can continue using indispensable products they use every day without depending on materials derived from virgin fossil fuels.
Through this collaboration, GAIL and LanzaTech aim to set new benchmarks in carbon utilization, providing a compelling model for utilization of CO2 gas streams that would otherwise be emitted as greenhouse gases. The partnership between GAIL and LanzaTech Global Inc. is a milestone achievement in GAIL’s broader energy transition to reach Net Zero and their pursuit of sustainable development.
About GAIL
Headquartered at New Delhi, India, GAIL is India’s largest natural gas company with diversified interests across the natural gas value chain of trading, transmission, LPG production & transmission, LNG re-gasification, petrochemicals, city gas, E&P, etc. It owns and operates a network of around 15,400 km of natural gas pipelines spread across the length and breadth of country. It is also working concurrently on execution of multiple pipeline projects to further enhance the spread. GAIL commands around 70% market share in gas transmission and has a Gas trading share of over 50% in India. GAIL and its Subsidiaries / JVs also have a formidable market share in City Gas Distribution. In the Liquefied Natural Gas (LNG) market, GAIL has significantly large portfolio. GAIL is also expanding its presence in renewable energy like Solar, Wind and Biofuel.
About LanzaTech
Headquartered in Skokie, IL, LanzaTech Global, Inc. (Nasdaq: LNZA) captures waste carbon and transforms it into materials such as sustainable fuels, fabrics, packaging, and other products. Using a variety of waste feedstocks, LanzaTech’s technology platform highlights a future where consumers are not dependent on virgin fossil feedstocks for everything in their daily lives. LanzaTech’s goal is to challenge and change the way the world uses carbon, enabling a new circular carbon economy where carbon is reused rather than wasted, skies and oceans are kept clean, and pollution becomes a thing of the past. For more on LanzaTech visit www.lanzatech.com.
Forward-Looking Statements
This press release includes forward-looking statements regarding LanzaTech based on the beliefs and assumptions of its management. Although LanzaTech believes that its plans, intentions, and expectations reflected in or suggested by these forward-looking statements are reasonable, LanzaTech cannot assure you that it will achieve or realize these plans, intentions, or expectations. Forward-looking statements are inherently subject to risks, uncertainties, and assumptions. You should not put undue reliance on these statements, which speak only as of the date hereof. LanzaTech undertakes no obligations to update or revise publicly any forward-looking statements, whether because of new information, future events or otherwise, except as required by law.
Contacts:
Media Contact - LanzaTech
Kit McDonnell, Director of Communications
press@lanzatech.com
Investor Relations Contact - LanzaTech
Omar El-Sharkawy
VP, Corporate Development
LanzatechIR@icrinc.com
Media Contact - GAIL (India) Ltd.
Jyoti Kumar
General Manager (Corporate Communication)
jyotik@gail.co.in
