LanzaTech Global, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 12:39 pm
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LanzaTech Global, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 18.04 million compared to USD 7.31 million a year ago. Revenue was USD 19.61 million compared to USD 8.07 million a year ago. Net loss was USD 25.33 million compared to USD 22.27 million a year ago. Basic loss per share from continuing operations was USD 0.13 compared to USD 3.47 a year ago.
For the nine months, sales was USD 39.05 million compared to USD 24.05 million a year ago. Revenue was USD 42.17 million compared to USD 25.78 million a year ago. Net loss was USD 115.42 million compared to USD 54.97 million a year ago. Basic loss per share from continuing operations was USD 0.7 compared to USD 9.1 a year ago.
LanzaTech Global, Inc. is a carbon recycling company engaged in transforming waste carbon into sustainable raw materials for everyday products. Using its bio recycling technology, it captures carbon generated by energy-intensive industries at source, preventing it from being emitted into the air. The Company then gives that captured carbon a new life as a clean replacement for virgin fossil carbon in everything from household cleaners and clothing fibers to packaging and fuels. Its technology is designed to enable emitters to reduce their environmental impact and potentially to replace materials made from virgin fossil resources with recycled carbon, supporting their climate goals, meeting mandated targets, and creating a sustainable future. Its technology platform is designed to use a variety of waste feedstocks, from waste industrial gases to biomass residues and municipal solid waste. It is also developing biocatalysts and processes to produce a suite of additional products.