AUCKLAND, New Zealand--(BUSINESS WIRE)--Clean energy technology company LanzaTech has signed a memorandum of understanding with Mitsui Global Strategic Studies Institute (MGSSI), part of Mitsui and Co. Ltd (“Mitsui” head office: Chiyoda-ku, Tokyo, Japan, President: Masami Iijima).
LanzaTech Chief Executive Dr Jennifer Holmgren says MGSSI will introduce LanzaTech’s proprietary gas fermentation technology throughout Mitsui. LanzaTech will concurrently execute a MOU with Mitsui & Co Plant Systems Ltd (MPS) - Mitsui’s engineered plants business group.
MGSSI and MPS will play a strategic role leveraging Mitsui’s global position in a variety of industrial sectors, identifying value added opportunities for the application of LanzaTech’s process. The commercial deployment of LanzaTech’s technology will be accelerated by utilising Mitsui’s strong portfolio of capabilities in engineering, project development, financing and product off take contracts.
LanzaTech uses non food renewable resources to produce fuel grade ethanol and key chemical building blocks used to make polymers, plastics and hydrocarbon fuels, including drop in jet fuel.
Dr Holmgren says her team is delighted and honoured to have Mitsui as its global business partner: “Mitsui has both an outstanding history and a progressive vision for the future. With a comprehensive strategy on energy and the environment and a track record of being a catalyst to investments across a range of industries, Mitsui will enable LanzaTech to globally deploy low carbon industrial solutions to meet the changing needs of the times.
“Asia’s share of world GDP is currently around 25%, with an expected rise to 35% in 2030 and 50% in 2050. This growth will need the support of technological breakthroughs that go against traditional trends. LanzaTech’s unique technology can provide that.”
MGSSI President Osamu Koyama says LanzaTech’s technology fits with a key Mitsui value - embracing the challenge of continuous innovation.
“Mitsui’s long term energy and environmental strategy includes operating effectively during the industrial restructuring and geographic changes arising from the pursuit of a low-carbon society,” President Koyama says.
About Mitsui & Co Ltd:
Mitsui has offices in 66 countries. Its businesses range from logistics, financing and the development of international infrastructure, to projects in iron and steel, minerals and metals, motor vehicles, marine and aerospace, chemicals, energy, foods, retail, consumer services, information, electronics and telecommunications. Mitsui’s consolidated revenue for the year to March 31, 2011 was 4.679 billion yen (USD56.27 billion).