- Jan 2026: closed $20M private placement; Dec 16, 2025: final LanzaJet stock tranches raised stake to 53%, then reduced to ~46% after Feb 11, 2026 Series A ($47M new capital; $650M pre-money).
- Freedom Pines Fuels (Soperton, GA) commissioned production of ASTM-certified SPK (sustainable aviation fuel) and Renewable Diesel from ethanol, first commercial-scale plant.
- 2025 revenue $55.8M (Q4 $28.0M); FY net loss $49.0M; adjusted EBITDA loss $71.3M.
- Awarded €40M EU Innovation Fund grant; operating expenses fell 21% y/y to $104.5M; cash and restricted cash $17.1M as of Dec 31, 2025.
Strategic transactions
Dec 16, 2025: received final tranches of LanzaJet common stock, raising LanzaTech’s non-controlling interest in LanzaJet to 53%; Feb 11, 2026: Series A preferred stock transaction closed first round ($47M new capital; $650M pre-money) reducing LanzaTech’s common ownership to ~46%; Jan 2026: closed $20M private placement.
Operations and production
LanzaJet’s Freedom Pines Fuels facility in Soperton, GA was commissioned and began producing ASTM-certified SPK (sustainable aviation fuel) and Renewable Diesel from ethanol, cited as the first commercial-scale plant of its kind.
Financial performance (FY and Q4 2025)
Revenue: Q4 $28.0M, FY $55.8M (up from $12.0M and $49.6M in 2024), driven by $8.5M in sublicensing/licensing revenue from LanzaJet and increased CarbonSmart product sales; gross margin Q4 65% vs 54% in 2024. Cost of revenue: Q4 $9.9M, FY $30.5M. Operating expenses: Q4 $18.3M, FY $104.5M (down 21% y/y; Q4 down 45% y/y). Net loss: Q4 $0.1M, FY $49.0M (vs $137.7M FY 2024). Adjusted EBITDA: Q4 positive $2.4M, FY loss $71.3M (vs $88.2M FY 2024).
Balance sheet and funding context
Cash and restricted cash totaled $17.1M as of Dec 31, 2025 (vs $58.1M at Dec 31, 2024), reflecting cash use for operations, timing of receipts and limited new inflows, partially offset by investment liquidations and financing; awarded a €40M EU Innovation Fund grant (awarded Nov 2025) linking CCU and CCS for chemicals, marine and aviation sectors.
