SKOKIE, Ill. — November 19, 2025 — Leads & Copy —
LanzaTech Global, Inc. (NASDAQ: LNZA) reported its third-quarter financial and operating results for the period ending September 30, 2025. Key highlights include the operation of the first commercial ethanol-to-jet plant and a substantial grant from the EU Innovation Fund.
In November 2025, LanzaTech announced that LanzaJet, Inc., a sustainable aviation fuel (SAF) joint venture with a 36.33% equity interest held by LanzaTech, commenced full operations at its Freedom Pines Fuels facility in Soperton, Georgia. This marks the world’s first commercial-scale production of jet fuel using ethanol as a feedstock and the first renewable solution compatible with current aircraft that doesn’t depend on lipids or oils.
Also in November 2025, LanzaTech received a €40 million grant from the European Union’s Innovation Fund, pending finalization of the grant agreement expected in Spring 2026. This project, an integrated Carbon Capture, Utilization and Storage (CCUS) facility in Norway, will feature the inaugural commercial deployment of LanzaTech’s second-generation bioreactor, aiming to produce 23.5 kt (approximately 8 million U.S. gallons) of ethanol annually by utilizing ferroalloy emissions.
The company reported total revenue of $9.3 million for the third quarter of 2025, compared to $9.9 million for the same period in 2024. This decrease is attributed to reductions in Joint Development Agreements (JDA) business and a decline in engineering and other services, which were partially offset by growth in CarbonSmart™ revenue.
Engineering and other services revenue for the third quarter of 2025 totaled $4.0 million, down from $4.9 million in the third quarter of 2024, due to the completion of projects with existing customers and government entities.
JDA and contract research revenue amounted to $1.2 million in the third quarter of 2025, compared to $1.8 million in the third quarter of 2024, reflecting the completion of projects with existing customers and the lack of new contracts following workforce reductions.
CarbonSmart revenue increased to $3.0 million in the third quarter of 2025, up from $2.2 million in the third quarter of 2024, driven by increased sales volume of CarbonSmart products.
The cost of revenue decreased by $1.2 million (15%) for the three months ending September 30, 2025, compared to the same period in 2024. This decrease was primarily due to a $1.2 million reduction in engineering and other service costs, as well as a change in revenue mix favoring CarbonSmart sales.
Operating expenses totaled $18.0 million in the third quarter of 2025, a decrease from $34.8 million in the third quarter of 2024. This reduction was mainly due to a $3.0 million decrease in personnel and contractor expenses related to R&D projects, reflecting headcount reductions.
LanzaTech reported a net income of $2.9 million for the third quarter of 2025, compared to a net loss of $57.4 million for the same period last year. This increase was primarily driven by a $38.1 million non-cash gain on financial instruments and a $16.5 million decrease in operating expenses.
Adjusted EBITDA loss was $13.5 million in the third quarter of 2025, compared to $27.1 million in the same period last year. The decrease in Adjusted EBITDA loss was primarily due to lower selling, general, and administrative expenses resulting from cost optimization efforts.
As of September 30, 2025, the company held $23.5 million in total cash, restricted cash, and investments, a decrease from $39.6 million as of June 30, 2025. This decrease reflects the use of cash to fund operating activities and the timing of receipts from customers and government projects.
Dr. Jennifer Holmgren, Board Chair and CEO of LanzaTech, stated that the company has strengthened its position and regained momentum by aligning its structure to market realities and focusing on high-value paths such as the growing demand for SAF.
Freya Burton
freya@lanzatech.com
Source: LanzaTech Global, Inc.
