09:50 AM EDT, 06/20/2024 (MT Newswires) -- LanzaTech Global ( LNZA ) said Thursday that it has increased its stake in LanzaJet, a sustainable aviation fuel technology provider and fuels producer, to 36% from 23%.

LanzaTech said the move is in accordance with a previous agreement that allowed LanzaJet to further sublicense the alcohol-to-jet technology developed by LanzaTech and others in exchange for more shares issued to LanzaTech.

LanzaTech said it received on Tuesday the first of three tranches of LanzaJet shares, which are expected to more than double its stake in LanzaJet.

As LanzaJet will try to further sublicense the technology, LanzaTech's stake in the company is expected to increase, with the second and third equity issuances expected to boost LanzaTech's stake to 46% and 53%, respectively, over the next 12 to 18 months, LanzaTech said.

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