LanzaJet raises $47M at $650M valuation after SAF milestone
What's the deal? LanzaJet, the sustainable aviation fuel (SAF) technology company, has raised $47M in new capital. The funding combines the first close of an equity round at a $650M pre-money valuation with a UK government grant.
International Airlines Group (IAG)Dealroom has a profile for this one. Try Dealroom →and ShellDealroom has a profile for this one. Try Dealroom → co-led the equity round. Groupe ADPDealroom has a profile for this one. Try Dealroom →, LanzaTech, and MitsuiDealroom has a profile for this one. Try Dealroom → also participated — all existing shareholders expanding their stakes.
The capital will support LanzaJet's commercial deployments of its patented alcohol-to-jet (ATJ) technology, which converts ethanol into jet fuel.
Why now? The investment follows a major milestone. In late 2025, LanzaJet announced it had fully operated and produced on-spec fuels at its Freedom Pines Fuels facility in Soperton, Georgia.
This marked the first time a commercial-scale plant produced jet fuel from ethanol. The breakthrough validated the company's technology and de-risked it for investors.
What could go wrong? The Georgia facility faced technical delays after launching in 2024. Scaling globally will require more capital — LanzaJet is targeting $135M total for this equity round.
The signal: Major airlines and energy companies are doubling down on SAF as aviation seeks to decarbonise. The backing from IAG and Shell signals growing confidence that ethanol-to-jet technology can scale to meet looming mandates.
The UK, for instance, requires 10% of jet fuel to come from sustainable sources by 2030. LanzaJet is advancing Project Speedbird, a SAF biorefinery in Teesside that received $13M from the UK Department for TransportDealroom has a profile for this one. Try Dealroom →— the largest award in its funding cycle.
Freedom Pines serves as a blueprint: a modular design that, once proven, can be replicated worldwide.
Sources:
PR Newswire
SAF Investor
U.S. Department of Energy
LanzaJet
Carbon Free Aviation
B.S.
