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Hurricane Helene pummeled the city of Soperton, Georgia, shutting down work on an ethanol-to-jet fuel plant built by LanzaJet, according to the CEO of sister company LanzaTech.

Zoom in: CEO Jennifer Holmgren says the facility withstood the storm without serious damage, but the city was hit hard and lost power.

LanzaJet wasn't yet producing sustainable aviation fuel, or SAF, at the plant, after holding a grand opening in January.

"The world needs to remember what it is we're fighting for, and this Hurricane Helene is yet another example," said Holmgren.

"We're measuring ourselves against an established fossil industry that has incentives. We need to think about the negative impact of that industry," she said.

Catch up quick: LanzaTech, founded in 2005, takes waste carbon and uses microbes and reactors to produce low-carbon products like fuel and materials.

The firm is rare in that it's raised financing across a broad range of investors, from early-stage VC with Khosla Ventures, to strategic global oil and chemical investors, to growth capital with Brookfield.

The company, which went public via a SPAC in 2022, isn't profitable and has seen its shares slump as public investors retreated from growth companies.

Axios sat down with Holmgren to talk about the path to profitability, the SAF market and carbon utilization.

This interview has been edited for length and clarity.

"We want to build more commercial plants. We have six commercially operating plants across the world.

The other thing we want to do is show that we can make new products. We want bigger pulls, like sustainable aviation fuel."

"I think sequestration will be important, but I think it's more difficult than people think.

Frankly, burying carbon, to me, is a waste of carbon. We need it, don't get me wrong, but we need to reuse carbon."

"It is tough to be in an environment right now where people prefer profit rather than growth. We're a growth company at a growth stage."

"We've been raising cash. We announced the Carbon Direct investment, and we can raise another $110 million."

Editor's note: A previous version of this story incorrectly stated that the company was raising up to $250 million. The company is raising up to $150 million.

LanzaTech's CEO chats SAF, profits and Helene

The carbon recycling company is focused on deploying more plants

Photo illustration of Jennifer Holmgren with a pattern of carbon dioxide molecules.

Photo illustration: Axios Visuals. Photo: Courtesy of LanzaTech

carbon capture

Hurricane Helene pummeled the city of Soperton, Georgia, shutting down work on an ethanol-to-jet fuel plant built by LanzaJet, according to the CEO of sister company LanzaTech.Zoom in: CEO Jennifer Holmgren says the facility withstood the storm without serious damage, but the city was hit hard and lost power.

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LanzaTech's CEO chats SAF, profits and Helene

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