ArcelorMittal, Mitsui, Novo, Siemens and Petronas are in line to exit the carbon recycling technology provider, which is set for a Nasdaq listing.

LanzaTech, a US-based carbon capture technology developer backed by corporates ArcelorMittal, Mitsui, Novo, Siemens and Petronas, agreed a reverse merger with special purpose acquisition company (SPAC) AMCI Acquisition Corp II on Tuesday.

The transaction will give the combined business a pro forma equity valuation of approximately $2.2bn and it will take the spot on the Nasdaq Capital Market secured by AMCI Acquisition Corp II in a $150m initial public offering in August 2021.

The deal will be boosted by…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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