NZ alternative fuels firm secures US funding

Energy Minister David Parker says he congratulates New Zealand alternative fuel company LanzaTech for securing funding from one of the world's best-known venture capitalists and technology-leaders.

LanzaTech is working on a process to turn waste carbon monoxide into ethanol. The Auckland-based company has just announced it has secured US$3.5 million (NZ$4.7 million) from Khosla Ventures, led by Vinod Khosla, a co-founder of Sun Microsystems.

David Parker says the potential for this kind of research is huge.

"These researchers estimate their technology could produce 50 billion gallons (190 billion litres) of ethanol from the world's steel mills alone by turning unwanted emissions into useful fuel."

"This is exactly the kind of new technology we need to make a difference to world's security of energy supply and to reduce the greenhouse gas emissions that contribute to climate change."

"It's another example of New Zealand scientific and industrial expertise being harnessed for the good of the New Zealand economy and the world's environment."

"It's fantastic that a Kiwi company is making a mark in this area, and I wish them every success with developing their technology."

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