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LanzaTech and Brookfield Form Strategic Partnership with an Initial $500 Million Commitment

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2 years ago

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CHICAGO, Oct. 03, 2022 (GLOBE NEWSWIRE) — LanzaTech NZ, Inc. (“LanzaTech”), an innovative Carbon Capture and Transformation (“CCT”) company that transforms waste carbon into materials such as sustainable fuels, fabrics, packaging, and other products that people use in their daily lives, announces today a funding partnership with Brookfield Renewable, and its institutional partners, to co-develop and build new commercial-scale production plants that will employ LanzaTech’s CCT technology, which transforms captured carbon into valuable raw material commodities.

The funding partnership commits an initial $500 million to be invested by Brookfield Renewable in constructing and operating new CCT projects that have achieved certain pre-agreed milestones. The funding will be provided through the Brookfield Global Transition Fund (“BGTF”), which is the largest fund in the world focused on the energy transition. Brookfield will be LanzaTech’s preferred capital partner for LanzaTech CCT opportunities in Europe and North America and following initial investments totaling $500 million, Brookfield could commit to making an additional $500 million available for investments in the strategic partnership if sufficient projects are available at the agreed milestones. Brookfield will also invest $50 million in LanzaTech to support further corporate development.

“LanzaTech’s technology provides a new way to decarbonize hard-to-abate sectors across the economy,” said Natalie Adomait, Managing Partner and Chief Investment Officer of BGTF. “We view this as an attractive opportunity to accelerate deployment of this technology at scale and be a partner to grow in an emerging area of infrastructure in a decarbonized economy.”

“Creating a new carbon economy will require new ways of financing technology scale up and deployment,” said Jennifer Holmgren, CEO of LanzaTech. “We are excited to partner with Brookfield to accelerate deployment and achieve exponential growth. Together, we have the potential to target significant commodity markets and keep fossil resources in the ground. Each additional plant deployed has the potential to keep the equivalent of around 100,000 tons of carbon from the atmosphere each year. This is the new carbon economy in action!”

LanzaTech converts carbon through the power of biology, using a biocatalyst to transform emissions into fuels and chemicals. Through application of their technology, steel mill emissions have been converted into sustainable aviation fuel, clothing ranges, laundry detergent, household cleaner and fine fragrances. LanzaTech creates industrial symbioses where the emissions from heavy industry can be used by consumer goods companies to make products that would otherwise come from fossil inputs. LanzaTech aims to contribute to a world where your plane is powered by recycled GHG emissions, and your shampoo bottle started life as emissions from a steel mill.

About LanzaTech

LanzaTech harnesses the power of biology and big data to create climate-safe materials and fuels. With expertise in synthetic biology, bioinformatics, artificial intelligence and machine learning coupled with engineering, LanzaTech has created a platform that converts waste carbon into new everyday products that would otherwise come from virgin fossil resources. LanzaTech’s first two commercial scale gas fermentation plants have produced over 30 million gallons of ethanol, which is the equivalent of offsetting the release of over 150,000 metric tons of CO2 into the atmosphere. Additional plants are under construction globally. LanzaTech is based in Illinois, USA. For more LanzaTech company news, visit lanzatech.com.

As previously announced, LanzaTech has entered into a merger agreement for a business combination transaction (the “Business Combination”) with AMCI Acquisition Corp. II (Nasdaq: AMCI) (“AMCI”). Upon closing, the combined company is expected to trade on Nasdaq under the ticker symbol “LNZA”.

About Brookfield Renewable

Brookfield Renewable operates one of the world’s largest publicly traded, pure-play renewable power platforms. Its portfolio consists of hydroelectric, wind, solar and storage facilities in North America, South America, Europe and Asia, and totals approximately 24,000 MW of installed capacity and an approximately 100,000 MW development pipeline.

Brookfield Renewable is the flagship listed renewable power company of Brookfield Asset Management, a leading global alternative asset manager with approximately $750 billion of assets under management.

The Brookfield Global Transition Fund, co-led by Mark Carney, Brookfield Vice Chair and Head of Transition Investing, and Connor Teskey, CEO of Brookfield Renewable, is Brookfield’s inaugural impact fund focusing on investments that accelerate the global transition to a net-zero carbon economy, while delivering strong risk-adjusted returns to investors. The Fund targets investment opportunities relating to reducing greenhouse gas emissions and energy consumption, as well as increasing low-carbon energy capacity and supporting sustainable solutions. Consistent with its dual objectives of earning strong risk-adjusted returns and generating a measurable positive environmental change, the Fund will report to investors on both its financial and environmental impact performance.

Important Information About the Business Combination and Where to Find It

The proposed Business Combination will be submitted to stockholders of AMCI for their consideration. AMCI has filed a registration statement on Form S-4 (the “Registration Statement”) with the Securities and Exchange Commission (the “SEC”) that includes both a preliminary prospectus with respect to the combined company’s securities to be issued in connection with the business combination and a proxy statement to be distributed to AMCI’s stockholders in connection with AMCI’s solicitation of proxies for the vote by its stockholders in connection with the Business Combination and other matters as described in the Registration Statement. AMCI urges its investors, stockholders and other interested persons to read, when available, the preliminary proxy statement/prospectus and any amendments thereto and the definitive proxy statement/prospectus, as well as other documents filed by AMCI with the SEC, because these documents will contain important information about AMCI, LanzaTech and the business combination. After the Registration Statement is declared effective, AMCI will mail the definitive proxy statement/prospectus to its stockholders as of a record date to be established for voting on the proposed business combination. Stockholders will also be able to obtain a copy of the Registration Statement, including the preliminary and definitive proxy statement/prospectus, once available, as well as other documents filed with the SEC regarding the business combination and other documents filed by AMCI with the SEC, without charge, at the SEC’s website located at www.sec.gov or by directing a request to: AMCI Acquisition Corp. II, 600 Steamboat Road, Greenwich, CT 06830.

Participants in the Solicitation

AMCI and LanzaTech and their respective directors and executive officers may be considered participants in the solicitation of proxies with respect to the proposed Business Combination under the rules of the SEC. Information about the directors and executive officers of AMCI is set forth in the Registration Statement (and will be included in the definitive proxy statement/prospectus). Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of AMCI stockholders in connection with the proposed business combination is set forth in the Registration Statement (and will be included in the definitive proxy statement/prospectus). Stockholders, potential investors and other interested persons should read the proxy statement/prospectus carefully before making any voting or investment decisions. These documents can be obtained free of charge from the sources indicated above.

Forward-Looking Statements

This press release includes forward-looking statements regarding, among other things, the plans, strategies and prospects, both business and financial, of LanzaTech. These statements are based on the beliefs and assumptions of the management of LanzaTech. Although LanzaTech believes that its plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, LanzaTech cannot assure you that it will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events or results of operations, are forward-looking statements. These statements may be preceded by, followed by or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates,” “intends” or similar expressions. The forward-looking statements are based on projections prepared by, and are the responsibility of, LanzaTech’s management. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the control of LanzaTech, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. New risk factors that may affect actual results or outcomes emerge from time to time and it is not possible to predict all such risk factors, nor can LanzaTech assess the impact of all such risk factors on its business, or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Forward-looking statements are not guarantees of performance. You should not put undue reliance on these statements, which speak only as of the date hereof. All forward-looking statements attributable to LanzaTech or persons acting on its behalf are expressly qualified in their entirety by the foregoing cautionary statements. LanzaTech undertakes no obligations to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Non-Solicitation

This press release shall not constitute a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed Business Combination and shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities, in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended.

Contacts:

Media Contact – LanzaTech
Freya Burton, Chief Sustainability Officer
[email protected]

Investor Relations Contact – LanzaTech
Omar El-Sharkawy
Director, Corporate Development
[email protected]

Media Contact – Brookfield
Simon Maine, Managing Director
[email protected]

Investor Relations Contact – Brookfield
Cara Silverman
Director
[email protected]

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Northern Data Group’s Peak Mining announces new partnership for 28MW of mining, powered by 100% renewable energy

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3 hours ago

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May 10, 2024

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northern-data-group’s-peak-mining-announces-new-partnership-for-28mw-of-mining,-powered-by-100%-renewable-energy

28MW of miners delivering 1.3 EH/s, strategically located in Paraguay2,860 units of MicroBT’s M63-series liquid-cooled WhatsMiners to be installedPower rate of sub $0.04/kWh, generated by 100% renewable hydropowerFRANKFURT, Germany , May 10, 2024 /PRNewswire/ — Northern Data Group’s Peak Mining today announces a new partnership with Penguin Infrastructure Holding (“Penguin”) for 28MW of mining capacity. This project represents a significant next step in Northern Data Group’s geographical expansion and enables Peak Mining to increase its hashrate, powered by 100% renewable energy.

The hardware will be energized in H2 2024 and marks Peak Mining’s first step into South America. 2,860 units of MicroBT’s M63-series liquid-cooled WhatsMiners will be installed at the site. The hardware will generate 1.3 EH/s, contributing to Peak Mining’s planned growth to 7.9 EH/s this year.
The site in Paraguay is 100% powered by renewable hydropower harnessed from the 14 GW Itaipu Dam, it is the world’s third-largest hydroelectric dam. The site will therefore benefit from the availability of clean energy.
This expansion into South America follows Peak Mining’s recent purchase of a 300MW mining data center site in Corpus Christi, Texas, which will power around 4.2 EH/s of MicroBT’s miners as well as the construction of a 30MW facility in Grand Forks, North Dakota, which will support approximately 1.1 EH/s of the miners.
This selection of sites underscores Northern Data Group’s commitment to meet the demands of the industry as efficiently as possible. Throughout 2024, Northern Data Group will be rapidly expanding its HPC footprint. 
Aroosh Thillainathan, Northern Data Group’s Chief Executive Officer, commented:
“This partnership is significant to Northern Data Group as we continue to execute on our investment strategy and solidify our position within the global High Performance Computing market, and I’m especially pleased to be working with Penguin, given the team’s impressive sustainability standards at this site. It is Peak Mining’s first expansion into South America and is another milestone for the company as it continues to scale its international Bitcoin mining capabilities.”
Niek Beudeker, Managing Director, Peak Mining, commented:
“I’m pleased to partner with Penguin to expand our mining capacity to Paraguay. The Penguin team has done a tremendous job in constructing the site and building a strong local team. This agreement, structured as a partnership, will allow for better alignment of both parties than with a standard hosting arrangement. The partnership demonstrates our commitment to leveraging 100% clean energy to meet growing industry demand, efficiently”.
Björn Schmidtke, CEO at Penguin Group, commented:
“This strategic alliance with Northern Data Group strengthens our position as a leader in hosting next-generation High Performance Computing and also allows us to strengthen our capabilities and expand our offerings in cutting-edge areas such as AI compute. We are committed to advancing in this constantly accelerating world, which demands more high-quality services to keep evolving.”
About Peak Mining
Peak Mining, part of the Northern Data Group, is powering the future of the Bitcoin network. We deliver industry-leading operating and energy efficiency in Bitcoin mining through the latest hardware alongside innovative technology and HPC infrastructure. With our heritage dating back to 2013, we’ve been innovating for over a decade and have been at the forefront of the industry ever since. Our high-quality infrastructure is purpose-built to secure the Bitcoin network, and we’re driven to continuously find new efficiencies driving value for our investors. We’re delivering long term value in more responsible ways.
About Penguin
Penguin Group is at the forefront of HPC and cloud services powered by fully renewable hydro power in South America. Its core value is the mission to Transform Energy into Human Potential. This mission is achieved through Penguin Academy, a revolutionary education concept where students ‘learn by doing’ and has already trained thousands of young people to become the next generation of tech talent. Penguin aims to transform Paraguay into the Technological Hub of South America and expand their concept and mission globally.
About Northern Data Group
Northern Data Group (ETR: NB2) is a leading provider of High Performance Computing (HPC) solutions, utilizing GPU- and ASIC-technology. Our flexible compute power fuels innovation in our three core business platforms: Taiga Cloud, Ardent Data Centers, and Peak Mining. Through our HPC solutions, we pioneer ambitious computing innovation that drives progress in the AI, ML and Generative AI industries. Our close collaboration with industry-leading manufacturers including Gigabyte, AMD, and NVIDIA is fundamental to the acceleration of innovation across sectors including life sciences, financial services, and energy.  

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Sanad Announces Strategic Sale Transaction with CFM Materials, Further Fostering Aviation Industry Collaborations

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3 hours ago

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May 10, 2024

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Sanad’s sale of two CFM56-7B engines to CFM Materials highlights its ongoing commitment to strengthening industry partnershipsBy partnering with leading aftermarket specialists, Sanad reaffirms its commitment to proactive portfolio management and strategic capital allocationHONG KONG, May 10, 2024 /PRNewswire/ — Sanad, the global aerospace engineering and leasing solutions leader, wholly owned by Abu Dhabi’s sovereign investor Mubadala Investment Company PJSC (Mubadala), unveiled a strategic transaction between Sanad and CFM Materials, the world’s largest provider of used serviceable components for CFM International engines, during the International Society of Transport Aircraft Trading (ISTAT) Asia in Hong Kong.

The sale of two CFM56-7B* engines to CFM Materials underscores Sanad’s strategic shift and proactive approach to strengthening its market position in the aviation industry. Through strategic partnerships with leading aftermarket specialists, Sanad not only reaffirms its commitment but also solidifies its vital role as a key player in shaping the aviation landscape.
This strategic agreement marks a pivotal milestone for the Sanad Leasing division’s ongoing strategy, which was initiated last year with a renewed focus on monetizing existing assets and leveraging the Sanad Leasing division to empower the Sanad MRO division. The primary goal of this strategy is to drive and bolster the growth of the MRO division of Sanad.
Kashish Kohli, Group Chief Financial Officer and SVP Leasing Division at Sanad, said: “We are pleased to announce the successful sale of two CFM56 engines to CFM Materials. This transaction reaffirms our commitment to optimizing our portfolio collaborating with industry leaders like CFM Materials. We are eager to explore further synergies between our respective organizations to explore further avenues of cooperation in the future.”
This collaboration presents new opportunities for CFM Materials to support MRO networks, airlines, lessors, manufacturers, and other service providers worldwide. Adding two CFM56-7B engines to CFM Materials portfolio enables them to meet the increasing demand from customers.
Rudy Bryce, President and CEO of CFM Materials, commented: “This agreement with Sanad strengthens our commitment to support our customers by expanding our lease pool and bolstering our position as a reliable partner to engine owners, operators and CFM56 engine shops around the world.”
With over 35 years of operational excellence and trusted partnerships with over 30 customers across six continents, including world-leading international airlines and global OEMs, Sanad remains at the forefront of aerospace engineering and leasing solutions. The Sanad Leasing division, a key pillar of Sanad’s comprehensive offerings, is committed to providing integrated solutions that address the growth requirements of its partners. Currently, the Sanad Leasing division boasts a substantial portfolio exceeding USD 700 million in assets, showcasing its robust capabilities and dedication to supporting the aviation industry’s evolving needs.
About Sanad
Sanad Group (Sanad) is a global aerospace engineering and leasing solutions leader in Abu Dhabi wholly owned by Mubadala Investment Company PJSC. With more than 35 years of operational experience, Sanad supports leaders in commercial aviation with world-class maintenance, repair, and overhaul (MRO) services and financing solutions. 
Visit us at www.sanad.ae. Follow us on Instagram, Facebook and LinkedIn @TheSanadGroup.
About CFM Materials
Based near DFW Airport, Texas, CFM Materials, a joint venture of GE Aerospace and Safran Aircraft Engines, is the world’s largest provider of used serviceable components for CFM International engines that power the Airbus A320 and Boeing 737 commercial jetliners, as well as the Boeing KC-135R aerial tanker operated by the U.S. Air Force.
In addition to its core operation, the company also sells surplus inventories for CFM International and provides inventory for its parent companies’ MRO (maintenance, repair and overhaul) network around the world. CFM Materials has a global presence with warehouse facilities located near DFW Airport, Texas, Amsterdam, Hamburg, and Singapore; along with sales offices in Singapore and Cardiff, Wales. www.cfmmaterials.com 
*CFM56 engines are a product of CFM International, a 50/50 joint company between GE Aerospace and Safran Aircraft Engines.
Photo: https://mma.prnewswire.com/media/2408079/Sanad_CFM.jpg
For more information, please contact: Raneem Khatib Edelman [email protected] +971 50 204 9791

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CoreWeave Invests £1 Billion in UK; Opens New European Headquarters and Data Centres in London to Bring Cloud Infrastructure to Power the AI Revolution

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May 10, 2024

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LONDON, May 10, 2024 /PRNewswire/ — CoreWeave, the leading specialized cloud provider for AI, today announced that it has opened an office in London as its European headquarters as part of a broader expansion into the continent. The new UK expansion represents a £1 billion investment to bolster the country’s AI potential, and will create job opportunities across engineering, operations, finance and go-to-market. CoreWeave plans to open two UK data centres in 2024 with further expansion planned in 2025.

“We are seeing unprecedented demand for AI infrastructure and London is an important AI hub that we are investing in. Expanding our physical footprint in the UK is an important milestone in the next phase of CoreWeave’s growth,” said Mike Intrator, Cofounder and Chief Executive Officer, CoreWeave. “CoreWeave’s infrastructure will fill a void in the cloud market by providing AI enterprises with localized high-performance compute solutions that will help build and deploy the next generation of AI applications.”  
Prime Minister Rishi Sunak said: “Companies like CoreWeave are powering the future of AI innovation, and I am proud that they’ve backed the UK with a £1 billion investment into UK data centres and have established their European headquarters here – further cementing the UK’s position as an AI and tech superpower.
“We’re leaving no stone unturned to make the UK the best place for pioneering companies like CoreWeave to grow their roots. With the third highest number of AI companies and private investment in AI in the world, it’s clear our plan is working.”
Secretary of State of Science, Innovation, and Technology, Michelle Donelan said: “CoreWeave’s decision to base their European HQ here in London is not just a sign of our tech investment prowess, it is a resounding vote of confidence in our approach to AI and innovation. Today’s £1 billion investment will bring two new data centres to our shores, a vital tool in helping to develop the AI breakthroughs of tomorrow.
“It will also lead to new, highly paid jobs and countless opportunities for our brightest AI minds and start-ups as the UK continues to cement its global AI powerhouse credentials. Our message is clear – when it comes to investment, scaling-up, and innovation, the UK is the perfect home from home.”
CoreWeave’s new European headquarters in London is strategically located given the tremendous AI talent in the UK. The investment in the UK builds on the UK government’s established leadership fostering global awareness and engagement on responsible AI and the country’s commitment to drive investment with plans to upskill millions across the UK in AI. CoreWeave’s presence in the region will support the continued expansion of AI labs and enterprise customers across the UK, bringing much needed computing power to the UK.
CoreWeave’s existing data centres support some of the largest deployments of high-performance GPU clusters in the world, and the infrastructure through which those clusters are consumed is designed with engineers and innovators in mind. Trusted by leading AI labs and enterprises, CoreWeave Cloud manages complexity through automation to deliver the most performant and efficient cloud infrastructure for AI workloads.
About CoreWeave
CoreWeave is a specialized GPU cloud provider, designed to power the most complex workloads with customized solutions at scale. The company’s portfolio of cutting-edge technology delivers a broad range of capabilities for machine learning and AI, graphics and rendering, life sciences, real-time streaming, and more. Its world-class teams, talent, and engineering prowess bring unmatched speed-to-market for advanced compute. CoreWeave operates a growing footprint of data centers covering every region of the US. It was founded in 2017 and is based in New Jersey. Learn more at www.coreweave.com.
Contact
Jackson [email protected] 

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