CHICAGO, IL--(Marketwired - August 25, 2014) - LanzaTech, the revolutionary carbon recycling company, announced the appointment of Gregg Clevenger as Chief Financial Officer. In his role, Clevenger has overall responsibility for leading all aspects of corporate finance for LanzaTech.
Clevenger was most recently Executive Vice President and CFO of GXS Corporation, the world's largest B2B integration cloud services provider which recently sold to Open Text Corporation for $1.2 billion. Mr. Clevenger has more than 25 years of international finance experience having served as CFO and board director of both privately held and public companies across the technology and telecoms sectors and as an investment banker at Goldman Sachs and Morgan Stanley in New York, Hong Kong and Singapore.
Clevenger joins LanzaTech as the company is set to commercialize its ground-breaking technology that recycles carbon into sustainable, valuable products. Its patented process uses a microbe to convert waste gas containing carbon monoxide or carbon dioxide (from industrial sources like steel mills and processing plants) or synthetic gas generated from any waste biomass resource into low-carbon fuels and chemicals.
"It is very exciting to be part of such an innovative company that is going to make a big impact on the bio-commodities markets," said Clevenger. "The success of LanzaTech's pre-commercialization activities and the breadth of its technology platform points to a great future with virtually limitless potential, and I look forward to helping it move into the next phase of its development."
"Gregg's track record of strong financial leadership at global companies undergoing transition and growth will help to accelerate LanzaTech's growth trajectory," said LanzaTech's CEO, Dr. Jennifer Holmgren. "His international and operational experience will be invaluable as LanzaTech builds on global partnerships to disrupt how we source energy and chemical products."
LanzaTech has successfully operated two demonstration facilities in China that convert waste flue gas from Baosteel and Shougang steel plants into ethanol. Both facilities operated at annualized production capacity of 100,000 gallons. LanzaTech is currently developing larger-scale commercial facilities with construction expected to begin later this year.
LanzaTech has also partnered with leaders in the global aviation, steel, fuel, chemical and petrochemical industries such as Virgin Atlantic, Siemens Metals Technologies, Harsco, SK Innovation, Invista, Evonik and India's Centre for Advanced Bio-energy as it develops competitive biobased routes for producing a range of sustainable fuels and chemicals.
LanzaTech is the global leader in gas fermentation technology and provides novel and economic routes to fuels and high-value chemicals from waste carbon streams. By leveraging waste resources, LanzaTech's solutions mitigate carbon emissions from industry without adversely impacting food or land security. LanzaTech's unique process certified by the Roundtable on Sustainable Biomaterials and currently protected by nearly 100 granted patents, produces sustainable fuels and platform chemicals that serve as building blocks for everyday products such as rubber and plastics. Founded in New Zealand, LanzaTech has raised more than $160 million from investors such as Khosla Ventures, K1W1, Qiming Venture Partners, Malaysian Life Sciences Capital Fund, Petronas, Mitsui, Siemens and China International Capital Corp. For more information, visit http://www.lanzatech.com