China Steel Corporation Approves Investment in LanzaTech Commercial Project

CHICAGO, IL--(Marketwired - Apr 22, 2015) - Taiwan's largest integrated steel maker, China Steel Corporation (CSC), has announced formal Board approval of a 1400M TWD ($46M USD) capital investment in a LanzaTech commercial ethanol facility. This follows the successful demonstration of the revolutionary carbon recycling platform at the White Biotech (WBT) Demonstration Plant in Kaohsiung using steel mill off gases for ethanol production.

LanzaTech's gas fermentation process uses proprietary microbes to capture and reuse carbon rich waste gases, reducing emissions and pollutants from industrial processes such as steel manufacturing, while making fuels and chemicals that displace those made from fossil resources.

In November 2012, China Steel Corporation (CSC) and LCY Chemical Corporation formed a joint venture, White Biotech (WBT), as part of a Green Energy Alliance with LanzaTech. The resulting demonstration plant met or exceeded all ethanol production milestones and the CSC Board have formally approved the capital to move to commercial scale. A 50,000 MT (17M Gallons) per annum facility is planned for construction in Q4 2015, with the intention to scale up to a 100,000 MT (34M Gallon) per annum commercial unit thereafter. Initial product focus will be industrial ethanol and gasoline additives, with plans for increased product diversity utilizing LanzaTech's unique microbial capability.

"LanzaTech will help create a more sustainable future by recycling carbon from the steel mill and enabling green growth through production of useful everyday products. We will have to work even closer to complete this important project," said Dr. Jo-Chi Tsou, Chairman of CSC.

"CSC has long been a champion of utilizing new technologies to create a better future and we are proud to help make this a reality," said LanzaTech CEO Jennifer Holmgren. "We need to keep fossil resources in the ground and carbon recycling is one way we can achieve this. If we are to keep within our global carbon budget we need all technologies to contribute and, more importantly, we need forward looking industries and organizations, such as CSC, to bring these technologies to market."

About LanzaTech
LanzaTech is the global leader in gas fermentation technology and provides novel and economic routes to fuels and high-value chemicals from waste carbon streams. By leveraging waste resources, LanzaTech's solutions mitigate carbon emissions from industry without adversely impacting food or land security. Globally, up to 150 million tonnes of CO₂ emissions could potentially be avoided by re-using available steel mill gas residues using LanzaTech's process. LanzaTech's unique process currently protected by over 100 granted patents, produces sustainable fuels and platform chemicals that serve as building blocks for everyday products such as rubber and plastics. In 2014, LanzaTech was recognized at the top North American Company in the Cleantech 100 and ranked #1 Hottest Company in Bioenergy by Biofuels' Digest. Founded in New Zealand, LanzaTech has raised more than US$200 million from investors including Khosla Ventures, K1W1, Qiming Venture Partners, Malaysian Life Sciences Capital Fund, Petronas, Mitsui, Primetals, China International Capital Corp and the New Zealand Superannuation Fund. For more information, visit http://www.lanzatech.com

About China Steel Corporation (CSC)

China Steel Corporation (CSC), located at Kaohsiung, Taiwan, was founded in December 1971. With annual production (in terms of crude steel) around 10 million tonnes, CSC produces a range of products. The domestic market takes roughly 65% of CSC's production and the exports take the remaining 35%. CSC is the largest steel company in Taiwan, enjoying more than 50% of the domestic market. Major export destinations are Mainland China, Japan and Southeast Asia.

Presently CSC and its 24 subsidiaries constitute the "CSC Group" in five business areas: steel, engineering and construction, industrial materials, logistics, and services & investments. The CSC Group, positioning its status toward "A group, which deems environmental protection and energy saving important, bases its headquarters in Taiwan, centers its development in Asia, and focuses on the business scope of steels and materials, engineering and services, and minerals and resources." is proactively making efforts to become a resource-saving and eco-friendly conglomerate of global distinction.