Wellington
It's not difficult to be a fan of LanzaTech , the Kiwicompany that uses proprietary bacteria to convert smoke stack waste gases into useful products suchas ethanol.
Having got its technology up and running at the Glenbrook steel mill, LanzaTech's just signed itsthird deal with an Asian partner to develop and trial new plant.
This time it is with Posco, a Korean conglomerate that produced 33.7 million tonnes of crudesteel last year. LanzaTech signed a last year with Baosteel, a leading Chinese producer, and earlierthis year with Indian Oil, the subcontinent's largest petrol seller.
Each of these are JV's and a trial - not the least because each plant has slightly differentoutput gases, and different requirements.
Word has it that these may be the last development and experimental type operations - you can'tgo on trialing forever.
But LanzaTech, whose goal is to become a billion dollar company within the next seven to 10years, isn't resting on its laurels.
It's present technology base converts carbon monoxide, requiring not outside energy source tostart or maintain the bacterial conversion, to the before-mentioned ethanol, as well as high valuechemicals such as 2,3-Butenediol (2,3-BD), a key building block used to make polymers, plastics andhydrocarbon fuels such as jet fuel.
It's use of renewable, non-food resources as the feed stock is one of the reasons it has beenvoted as one of the globe's top 100 cleantech companies, as well as the target of investment fromStephen Tindall's K1W1 venture capital fund and Silicon Valley's Khosla Ventures.
As
BusinessDesk
colleague Pattrick Smelliewrites in Stuff, (see
Such a process would provide a globally important step to minimise the impact of CO2 emissions.Apparently 60% of the USA's CO2 emissions are from the production of electricity. Imagine theenvironmental benefit, let alone the economic returns for LanzaTech of being able to fix this formof carbon in everyday items.
LanzaTech's possibly one of the most exciting tech stories in New Zealand, one that flies underthe radar because it isn't listed on the NZX.
It may list, but more likely in China.
However, it wants to retain it IP base in New Zealand - and given firstly the excitement of itsscience, and secondly the attraction of our place for clever researchers and engineers as a place tolive, let's hope it doesn't get forced overseas.
There's plenty of precedents overseas for what have become large corporate players in differentbusiness segments beginning, and remaining in way out the back of who knows where it is.
Sure, New Zealand's right at the edge of the world.
But, as an edgy place, New Zealand's not too bad in the scheme of things to raise a family andhave a life, and the desirability of our location may be enough to continue to attract the seriouslysmart people it will need to continue its development.