Forbes has recently included Lanza Tech, a biotech startup based in New Zealand among one of the hundred most promising private companies found in America. The startup has in fact been ranked number forty eight in the list. Also, it was the only firm among the top hundred that dealt with bioscience or clean energy.
Founded in 2005, the startup has its headquarters in Illinois. Its scientific base is in Auckland. It has till now raised funding from various angel investors and grants. With its team of a hundred and twenty five employees, Lanza Tech has managed to generate revenue of $4 million.
The startup’s main aim lies in the development of technologies for the reducing of new emissions. For this it works on new ideas and solutions that can address global warming. With offices in the United States, China and New Zealand, the startup consists of an international board of directors. Its partners include companies like The Invista and Boeing Co.
Jennifer Holmgren serves as the Chief Executive Officer of the company. The startup’s technology works towards getting wastes and other low cost resources converted into valuable and sustainable commodities. Gas gets converted from various industrial sources into chemicals and fuels through a microbe. Fuel and chemical productions are defined at the DNA level here through the use of synthetic biology.
The startup has in fact also been recognized among the Biofuels digest as "30 Hottest Companies in Renewable Chemicals", with a ranking of number seven, as has been reported by nzherald.com.
Its total capital today includes an amount of more than a $100 million.
The company has also been recognized by the World Economic Forum as one among the twenty three pioneers in technology to have an impact for the future.