International Airlines Group (IAG), Shell, Groupe ADP, LanzaTech, and Mitsui make additional investments to support LanzaJet's growth and commercial deployment of its proprietary Alcohol-to-Jet (ATJ) technology
CHICAGO, Feb. 19, 2026 -- LanzaJet, Inc., a leading next-gen fuels technology company and fuels producer, today announced the first close of an overall $135 million target equity investment round, at a $650 million pre-money enterprise valuation. The round is co-led by IAG and Shell, with participation from Groupe ADP, LanzaTech, and Mitsui - all existing shareholders who are expanding their investment in LanzaJet's growth and operations at LanzaJet Freedom Pines Fuels in Soperton, Georgia, USA – the world's first fully integrated, commercial-scale ethanol-to-fuels plant. The continued investment from these industry leaders underscores strong confidence in the future of sustainable aviation fuel and LanzaJet's proprietary ATJ technology. The financing will support existing and future commercial deployments of its ATJ technology, allowing LanzaJet to capitalize on its deep portfolio of global opportunities.
Separately, LanzaJet was previously awarded a substantial grant from the UK Department for Transport's Advanced Fuels Fund (AFF) to accelerate development of its Project Speedbird, a major SAF biorefinery in Teesside, United Kingdom. The first close of the equity round and the grant together provide LanzaJet with $47 million in capital.
"We're at a pivotal moment at LanzaJet. At the end of 2025, we announced that we fully operated and produced ASTM on-spec fuels at LanzaJet Freedom Pines Fuels – marking both 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. The decision by our existing investors to lead this fundraising round reaffirms their conviction in our technology and sends a strong signal to the entire industry that LanzaJet is committed to unlocking new value for ethanol, creating opportunity for economic development, and defining the future of fuels for transportation," said Jimmy Samartzis, Chief Executive Officer of LanzaJet.
As part of this funding round, LanzaJet is entering into an innovative multi-year tolling structure at its LanzaJet Freedom Pines Fuels facility. Under the tolling agreements, LanzaJet will use a low carbon, waste-based ethanol produced domestically in the U.S., along with renewable natural gas from a regional plant, to produce low carbon SAF and renewable diesel fuel. The tolling structure provides LanzaJet with secured feedstock supply and guaranteed offtake of all production at the plant.
In conjunction with this round, LanzaJet optimized its ownership and governance structure to enable effective and efficient decision-making, support its growth, and position the company to attract future investors.
ADVISOR
Perella Weinberg is serving as exclusive financial advisor to LanzaJet.
ABOUT LANZAJET
LanzaJet is a leading alternative fuels technology provider with patented ethanol-based alcohol-to-jet (ATJ) technology. LanzaJet is impacting economic development, energy security, decarbonization, and national security by accelerating the production and deployment of Sustainable Aviation Fuel (SAF) and other alternative fuels. LanzaJet is supported by investors and funders including Airbus, All Nippon Airways, Breakthrough Energy, International Airlines Group, Groupe ADP, LanzaTech, Microsoft's Climate Innovation Fund, Mitsui & Co., MUFG, Shell, Southwest Airlines, the U.S. Department of Energy, and the UK Department for Transport. LanzaJet has been recognized for its impact by TIME, Fortune, MIT, Reuters, S&P Global, and many others. Further information is available at: https://www.lanzajet.com/
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