LanzaTech NZ, Inc., an innovative leader in carbon capture and transformation and a Qiming Venture Partners portfolio company, listed on Nasdaq on Feb 10, following the completion of its business combination with AMCI Acquisition Corp. II (AMCI), a special purpose acquisition company (SPAC).

The combined company will operate as LanzaTech Global, Inc, and it issued at $10.00/share representing a market cap of $2 billion, Qiming Venture Partners said in a statement.

As LanzaTech’s early investor, Qiming led the company’s series B round of financing in 2010 and followed on its Series C and D rounds. The successful listing is Qiming’s fourth initial public offering (IPO) in 2023 and first SPAC IPO.

LanzaTech is a pioneer in using nature-based carbon refining technology to transform waste carbon into materials such as sustainable fuels, fabrics, and packaging that people use in their daily lives.

Through licensing and co-development collaboration models, LanzaTech partnered with Shougang Group and launched the world’s first commercial carbon refining plant at the Jingtang Steel Mill in Caofeidian in Hebei Province, China in 2018, and have subsequently added two commercial plants operating in China, with total production of over 47 million gallons of fuel grade ethanol and mitigation of over 240,000 tons of CO2.

There are 14 additional plants being developed worldwide, 12 of which are commercial-scale and two are demo-scale.

As sustainability becoming a global consensus, more companies are pledging carbon-neutral or zero-carbon goals, and environment-conscious consumer market is growing rapidly.

LanzaTech partnered with major brands such as Lululemon, Total and L’Oreal, and Unilever to deliver world’s first sustainable packaging and materials leveraging captured carbon emissions instead of fossil fuels, supporting and creating a more sustainable future.

“The successful IPO marks a new milestone for LanzaTech. We look forward to more success by LanzaTech’s cutting-edge technology solution to help achieve green manufacturing and carbon neutrality goals.” Said Gary Rieschel, Founding Managing Partner of Qiming Venture Partners.

Founded in 2006, Qiming Venture Partners is a leading China venture capital firm with offices in Shanghai, Beijing, Suzhou, Hong Kong, Seattle, Boston and the San Francisco Bay Area.

Currently, Qiming Venture Partners manages eleven US Dollar funds and seven RMB funds with $9.4 billion in capital raised.

Since its establishment, it has invested in outstanding companies in the technology and consumer (T&C) and healthcare industries at the early and growth stages.

Since its debut, it has backed over 480 fast-growing and innovative companies. Over 180 of its portfolio companies have achieved exits through IPOs at the NYSE, NASDAQ, HKEX, Shanghai Stock Exchange or Shenzhen Stock Exchange, or through merger and acquisition (M&A) or by other means. There are also over 70 portfolio companies that have achieved unicorn status.

Its portfolio companies including Xiaomi, Meituan, Bilibili, Zhihu, Roborock, Gan & Lee Pharmaceuticals, Tigermed, Zai Lab, CanSino Biologics, Schrödinger, APT Medical, New Horizon Health, Venus MedTech, Sanyou Medical, AmoyDx, Berry Genomics, SinocellTech, Yuanxin Technology, Caidya, Belief BioMed, WeRide, Biren Technology and UBTech.

China’s to shut e-commerce sites in Indonesia, Thailand – report