Novo Holdings, the largest shareholder in Danish drug maker Novo Nordisk AS (NVO), has bought a stake in recycled fuels and chemical startup LanzaTech.
The holding company said Tuesday it had invested $72 million during a series E funding round in the Illinois-based startup, which recycles waste and turns it into fuels like ethanol or polyethylene for consumer goods.
“This locks carbon into a cycle and supports a transition to a circular economy,” Novo Holdings said.
Senior Director Anders Bendsen Spohr will join the board of LanzaTech.
“Novo Holdings’ investment underlines our commitment to supporting the bioindustrials sector and, in particular, companies that are developing cutting-edge technology platforms,” Mr. Spohr said.
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