Auckland NZ June 8th 2011: Clean energy technology company LanzaTech has signed a memorandum of understanding (MOU) with Mitsui Global Strategic Studies Institute (MGSSI), part of Mitsui & 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 the Mitsui Group. LanzaTech will concurrently execute a separate 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 honored 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 is one of the most diversified and comprehensive trading, investment and service enterprises in the world, with 155 offices in 66 countries as of May, 2011. Utilizing the global operating locations, network and information resources, Mitsui is multilaterally pursuing business that ranges from product sales, worldwide logistics and financing, through to the development of major international infrastructure and other projects in the following fields, Iron & Steel Products, Mineral & Metal Resources, Infrastructure Projects, Motor Vehicles, Marine & Aerospace, Chemicals, Energy, Foods & Retail, Consumer Services, Information, Electronics and Telecommunications, Financial Markets and Transportation Logistics. Mitsui’s Group’s consolidated revenue for the year ended March 31, 2011 was 4,679 billion yen (USD 56.27 billion). For more information, visit http://www.mitsui.com