LanzaJet, the alcohol-to-jet SAF technology company, has secured a major vote of confidence from global energy and aviation leaders with the first close of a new equity funding round. Co-led by Shell and International Airlines Group (IAG) — parent of British Airways — the round targets $135 million in total, with the company valued at $650 million pre-money.

“The world’s first production of jet fuel using ethanol as a feedstock at a commercial-scale plant, and the first non-oil-based scalable renewable solution compatible with today’s aircraft.” — Jimmy Samartzis, CEO, LanzaJet

The round also sees continued investment from Groupe ADP, LanzaTech, and Mitsui, all existing shareholders. Combined with a previously awarded grant from the UK Department for Transport’s Advanced Fuels Fund, LanzaJet now has $47 million in new capital to deploy.

“We’re at a pivotal moment at LanzaJet,” said Jimmy Samartzis, CEO. “At the end of 2025, we announced the world’s first production of jet fuel using ethanol as a feedstock at a commercial-scale plant — the first non-oil-based scalable renewable solution compatible with today’s aircraft. The decision by our existing investors to lead this fundraising round reaffirms their conviction in our technology.”

LanzaJet Freedom Pines Fuels in Soperton, Georgia is the world’s first fully integrated commercial-scale ethanol-to-fuels plant. As part of the funding round, LanzaJet is entering a multi-year tolling structure using low-carbon, waste-based domestic ethanol and renewable natural gas, with secured feedstock supply and guaranteed offtake of all production.

The capital will also support Project Speedbird, LanzaJet’s planned SAF biorefinery in Teesside, UK, which has passed front-end engineering milestones with Fluor Corporation as engineering partner.

LanzaJet’s technology platform is backed by Airbus, All Nippon Airways, Breakthrough Energy, Microsoft’s Climate Innovation Fund, Southwest Airlines, the U.S. Department of Energy, and the UK Department for Transport.