LanzaTech Global (LNZA)
Carbon-recycling gas fermentation platform for ethanol, fuels, chemicals and materials.
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Turns industrial emissions, carbon dioxide and gasified waste into ethanol through gas fermentation, earning from engineering and technology licensing, partner-funded development, and CarbonSmart product sales. The model leaves construction and operation of most physical plants to industrial partners while connecting their output to downstream supply chains.
Converts carbon-rich industrial emissions, carbon dioxide and gasified waste into ethanol through a proprietary gas-fermentation platform. The resulting ethanol is sold directly or upgraded into fuel and chemical derivatives, while CarbonSmart carries recycled-carbon materials into textile, packaging, fragrance, personal-care and other supply chains.
Earns revenue across three business lines: biorefining, joint development agreements and contract research, and CarbonSmart sales. Industrial partners fund engineering work, license the process and run physical plants; research partners fund development; licensee-produced ethanol can then be purchased and resold.
Operations span the United States, China, India, the United Kingdom and the European Union. Deployment depends on partners' construction, commissioning and plant operation, alongside feedstock access, permits, lifecycle qualification and intellectual-property protection.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Mar 13, 2025 | Janney Montgomery Scott | Downgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $45.0M · Total debt $28.8M · Total assets $322.7M · Shareholders' equity $260.6M
- Revenue
- $9.0M
- Operating income
- −$9.9M
- Net income
- $184.3M
No dividends on record.
| Institutions | 16.26% | 2.13M shares | |
|---|---|---|---|
| 39 holders · as of Jun 30, 2026 | |||
| Insiders | 38.06% | 4.98M shares | |
| 2 holders · as of May 11, 2026 | |||
| Strategic holders | 9.18% | 1.20M shares | |
| 2 holders · as of Jul 23, 2026 | |||
| Other | 36.50% | 4.78M shares | |
| remainder | |||
13.09M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Two share counts disagree (13.09M in the company's Sep 22, 2026 report, 2.20M elsewhere); stakes use the report.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Vinod KhoslaInsider10 percent owner | 28.11% | 3.68M | filed Jan 29, 2026 |
of New Zealand Superannuation GuardiansInsider10 percent owner | 9.95% | 1.30M | filed May 11, 2026 |
K ONE W ONE (NO 3) Ltd1,2Strategic10 percent owner | 9.11% | 1.19M | filed Jul 23, 2026 |
Highbridge Capital Management LLCInstitution | 3.51% | 458,904 | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 3.46% | 453,019 | as of Jun 30, 2026 |
- K ONE W ONE (NO 3) Ltd's transaction reports restate only vehicles that traded; the 2026 ownership statement (1.19M) is used instead.
- K ONE W ONE (NO 3) Ltd reports a block also reported by another filer; it is counted once, under that filer.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jan 21, 2026 | of New Zealand Superannuation Guardians | 10 percent owner | +969,858 | $5.00 |
| Jan 21, 2026 | Vinod Khosla | 10 percent owner | +7,800,000 |
