Q3 2024 Lanzatech Global Inc Earnings Call Transcript
Key Points
- LanzaTech Global Inc (LNZA) is evolving its business model to develop and finance its own projects, aiming for greater control over timing and performance.
- The company has established partnerships with major players like Brookfield Asset Management and the Olean Group, securing significant financial commitments for future projects.
- LanzaTech Global Inc (LNZA) has announced several new projects, including Project Drake and a joint venture in the Middle East, which are expected to drive future revenue growth.
- The company is expanding its carbon smart business, with a new long-term ethanol purchase agreement with ArcelorMittal, potentially generating $10 million to $20 million annually.
- LanzaTech Global Inc (LNZA) is diversifying its product offerings with the development of LanzaTech Nutritional Protein, targeting the growing alternative protein market.
- Third quarter revenue was $9.9 million, significantly below the target due to delays in sublicensing agreements and depressed ethanol pricing.
- The company is experiencing high operating expenses, partly due to costs associated with developing projects to FID (Final Investment Decision) stage.
- LanzaTech Global Inc (LNZA) faces challenges in securing timely project agreements, leading to uncertainty in revenue recognition.
- The company's adjusted EBITDA loss increased to $27.1 million in Q3 2024, compared to a $19.1 million loss in the same quarter last year.
- There is a dependency on external factors such as ethanol market dynamics and project partner decisions, which can impact financial performance.
Good day, everyone and welcome to Lanzatech Global Inc's third quarter of 2024 earnings conference call.
(Operator Instructions)
And now at this time, I will turn things over to Kate Walsh, Vice President of Investor Relations and tax. Please go ahead.
Good morning and thank you for joining us for Lanzatech Global Inc's third quarter of 2024 earnings conference call on the call today. I'm joined by our board chair and CEO, Dr. Jennifer Holmgren, and our CFO, Geoff Trukenbrod.
Earlier this morning, we issued a press release with our third quarter, 2024 financial and operating results as well as an investor presentation, summarizing the company's performance and key operational highlights for the quarter.
Please also reference our quarterly report on form 10-Q for the quarter ended September 30 2024 filed today.
Both our press release and investor presentation can be found in the investor relations section of our website at
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