As we begin a new year, I want to extend my heartfelt gratitude for your support of LanzaTech over the past 12 months.

Despite headwinds, we have celebrated significant milestones that demonstrate the power of our technology and partnerships. Our biorefining platform is proving increasingly critical in a world where geopolitical factors have made energy availability and pricing more complex. Our localized, distributed solutions not only contribute to the economy by creating new jobs and industries but also ensure energy and nutrition security worldwide.

This year, we have achieved many notable milestones, and I wanted to take a moment to highlight several that illustrate the breadth of our platform, the talent of our team, and the tailwinds ahead:

  1. Freedom Pines Facility Safety Record: This year, we had zero OSHA recordable incidents at our Freedom Pines operations in Georgia and have over six years without a lost time incident. We broke our previous safety record of 2,065 days without a lost time accident and are currently just over 2,250 days!
  2. Technip Energies and U.S. Department of Energy Partnership: With up to $200 million in funding committed, we are set to build a commercial Power-to-X facility in the U.S. Gulf Coast region. Project SECURE will integrate our carbon recycling technology with low carbon intensity hydrogen to produce sustainable ethylene, a key input for numerous industries. This project showcases our commitment to material efficiency and the potential for our integrated technology solutions to scale globally.
  3.  ArcelorMittal Ethanol Production Milestone: ArcelorMittal’s flagship Steelanol facility has recently scaled ethanol production to a level that supports barge shipping, and we also successfully signed long-term offtake agreements with ArcelorMittal so that LanzaTech can directly deliver product to our growing base of CarbonSmartä customers. With each new production achievement and offtake agreement at a facility using our technology, another piece of the puzzle falls into place for our vision of a CarbonSmart world.
  4. CirculAirä Launch: Combining our gas fermentation technology with LanzaJet’s Alcohol-to-Jet process, CirculAir is paving the way for a sustainable aviation future worldwide. From the UK to the UAE and Australia to New Zealand, our joint projects are pioneering the future of sustainable aviation.
  5. UK Government’s Sustainable Aviation Fuel (SAF) Mandate: The UK SAF Mandate sets a goal for 10% of jet fuel to be sustainable by 2030 and is a transformative event for aviation. SAF produced from food, feed, or energy crops is not eligible to be considered sustainable, and there is a cap on SAF made from HEFA (hydroprocessed esters and fatty acids). These measures highlight the transition to new feedstocks, including sustainable wastes or residues, that LanzaTech is well positioned to utilize alongside LanzaJet’s ATJ platform. Our involvement in the Jet Zero Taskforce and the work of our teams pushing for supportive SAF legislation, underscores our commitment to leading the transition to green aviation.
  6. First-of-a-Kind CCU and CCS Facility in Norway: Our plans to develop an integrated CCU and CCS facility with Eramet will deliver a first-of-a-kind facility driving leading-edge (and high value) carbon abatement metrics, something upstream and downstream customers are increasingly demanding.
  7. LanzaTech Nutritional Protein (LNP) Launch: This year, we expanded our platform capabilities to produce high-quality protein directly from CO₂, entering the estimated $1 trillion alternative protein market. Producing LNP as a primary product builds upon our experience in selling certified protein for animal feed since 2018 and demonstrates our commitment to providing sustainable and resilient sources of nutrition.
  8. Power-to-X Made Real: Our project with NTPC, India’s largest power generation utility, will use our second-generation bioreactor, to convert 100% carbon dioxide and green hydrogen into valuable fuels and materials. This demonstrates LanzaTech’s readiness to not only advance regions in the energy transition with green hydrogen but to support regions that are otherwise dependent on imported fossil feedstocks, enhancing domestic energy security and stability against global price shocks. India is a crucial market for LanzaTech, with its commitments to green power and green hydrogen as central to its energy transition strategy. By 2030, the country aims to produce 5 million metric tonnes of green hydrogen annually, reducing reliance on fossil fuels and lowering carbon emissions. This commitment enables technologies like LanzaTech’s to thrive, supporting the creation of a large and enduring carbon economy.
  9. CarbonSmart Progress: We had 9 consumer facing product launches in 2024 which expanded consumer awareness of LanzaTech and recycled carbon emissions as a new sustainable material category. We supplied Coty with the first European produced and purified ethanol establishing the first all European CarbonSmart supply chain, and we executed our first sales into the Asian fuels market, demonstrating LanzaTech’s ability to successfully participate in ethanol fuels markets.

While we had much to celebrate in 2024, we continue to face skepticism from those questioning our technology. As I often say, “the perfect is the enemy of the good” and this has caused

considerable hurdles for us in many parts of the world as we seek to deploy new technology in highly regulated markets. Yet, by leaning on our larger allies and demonstrating tangible progress, we are changing perceptions and proving that alternative solutions to climate change are not only possible but are profitable and preferable.

Reflecting on the challenges and achievements of 2024, I am reminded of the dedication, persistence, and endurance that drive success. This year’s Olympics showcased athletes whose stories reminded us that believing in the impossible paves the way for incredible achievements. Just as these athletes inspire us, my pride in our team’s accomplishments and commitment to our mission is immeasurable.

Thank you again for your support in the important work we are doing. Let’s continue to prove that carbon waste and pollution are valuable resources that can be transformed into something meaningful. Let’s keep leading the way and inspiring others to follow our innovative path.

All the best for 2025,

Jennifer