Latest news with #Earthshotprize
Yahoo
27-05-2025
- Business
- Yahoo
Skokie's LanzaTech to lay off 44 and downsize, despite honors for innovation
Skokie-based clean energy company LanzaTech Global, Inc., which has been heralded in TIME magazine and by Prince William's global environmental competition, plans to lay off 44 of its 383 employees in the first two weeks of June, per state of Illinois filings. The move comes as operating expenses rise but revenues fall, per quarterly reports to the Securities and Exchange Commission, and as the company plans to halve its rented space at Skokie's Illinois Science + Technology Park. Last month, the company acknowledged it received an offer from Carbon Direct Capital Management to buy the carbon recycling company at $0.02 a share, according to a press release from LanzaTech. In January 2023, the stock was valued at $10.43 a share, per Nasdaq. LanzaTech filed plans to lay off 44 to the Illinois Department of Commerce on May 12, offering 'mass layoff' as the reason. The first layoff date is scheduled for June 1, per state filings. LanzaTech was founded in New Zealand and has headquartered in Skokie since 2014 in the Illinois Science + Tech Park, according to previous reporting. The company's SEC filing said it 'transforms waste carbon into the chemical building blocks for consumer goods such as sustainable fuels, fabrics, and packaging that people use in their daily lives.' 'We are a gas fermentation company,' Dr. Zara Summers, chief science officer at LanzaTech previously told Pioneer Press. 'You might know about sugar fermentation if you drink beer or wine. We use a bacterial catalyst that takes gases like carbon monoxide, carbon dioxide and hydrogen, and convert those to ethanol at a commercial scale.' TIME Magazine named LanzaTech CEO Jennifer Holmgren to its worldwide Top 100 Climate Leaders for Business for 2023, and it was named the sole United States finalist for Prince William's November 2022 Earthshot prize, which honors the best solutions worldwide for tackling climate change. In its recent quarterly SEC filing, however, the company wrote, 'We have not achieved operating profitability since our formation. Our net losses after tax were $19.2 million for the three months ended March 31, 2025 and $25.5 million for the prior year period. As of March 31, 2025 we had an accumulated deficit of $988.8 million compared to an accumulated deficit of $969.6 million as of December 31, 2024. We anticipate that we will continue to incur losses until we sufficiently commercialize our technology.' Kate Walsh, LanzaTech's VP of Investor Relations and Tax, told Pioneer Press that LanzaTech is in a transition phase and is ready to put into practice the research knowledge it has gained these past few years. 'We're pivoting the company from a Research and Development hub to one that's commercially focused on deploying our proven technology,' Walsh said. '…So there's a transition that comes along with that.' Walsh said the downsizing and the growing demand for sustainable aviation fuel, especially with regulated markets in the UK and the EU, will help make the company profitable. The decision to downsize the company was not influenced by the political climate regarding green energy, nor the tariffs, she added. LanzaTech also will save money by cutting in half the space it rents at the Skokie tech park, from 106,661 to 53,616 square feet, effective July 1, per SEC filings. Per the filings, LanzaTech said it was unsure how the layoffs will affect health of the company overall, 'and may result in significant adverse consequences.' As LanzaTech moves forward, the group also runs into danger of having its stock delisted from the Nasdaq due to its low valuation, per the filing. Delisted companies generally face steep challenges in raising money. The village of Skokie's Director of Communications and Community Engagement Patrick Deignan released a statement on behalf of the village. 'Innovative companies like LanzaTech play a vital role in strengthening Skokie's local economy, supporting high-quality jobs and enhancing the Village's longstanding reputation as a center for scientific advancement. The Village remains committed to fostering a strong climate for innovation and will continue supporting the success of LanzaTech and other companies contributing to our community and beyond.' 'LanzaTech is an important part of Skokie's science, technology and local business landscape,' said Mayor Ann Tennes in a statement emailed to Pioneer Press. 'Although we're disappointed that the company's strategic actions will result in a reduction in their local workforce, we remain confident in LanzaTech's future and the continued impact they'll make here in Skokie and around the world.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Chicago Tribune
27-05-2025
- Business
- Chicago Tribune
Skokie's LanzaTech to lay off 44 and downsize, despite honors for innovation
Skokie-based clean energy company LanzaTech Global, Inc., which has been heralded in TIME magazine and by Prince William's global environmental competition, plans to lay off 44 of its 383 employees in the first two weeks of June, per state of Illinois filings. The move comes as operating expenses rise but revenues fall, per quarterly reports to the Securities and Exchange Commission, and as the company plans to halve its rented space at Skokie's Illinois Science + Technology Park. Last month, the company acknowledged it received an offer from Carbon Direct Capital Management to buy the carbon recycling company at $0.02 a share, according to a press release from LanzaTech. In January 2023, the stock was valued at $10.43 a share, per Nasdaq. LanzaTech filed plans to lay off 44 to the Illinois Department of Commerce on May 12, offering 'mass layoff' as the reason. The first layoff date is scheduled for June 1, per state filings. LanzaTech was founded in New Zealand and has headquartered in Skokie since 2014 in the Illinois Science + Tech Park, according to previous reporting. The company's SEC filing said it 'transforms waste carbon into the chemical building blocks for consumer goods such as sustainable fuels, fabrics, and packaging that people use in their daily lives.' 'We are a gas fermentation company,' Dr. Zara Summers, chief science officer at LanzaTech previously told Pioneer Press. 'You might know about sugar fermentation if you drink beer or wine. We use a bacterial catalyst that takes gases like carbon monoxide, carbon dioxide and hydrogen, and convert those to ethanol at a commercial scale.' TIME Magazine named LanzaTech CEO Jennifer Holmgren to its worldwide Top 100 Climate Leaders for Business for 2023, and it was named the sole United States finalist for Prince William's November 2022 Earthshot prize, which honors the best solutions worldwide for tackling climate change. In its recent quarterly SEC filing, however, the company wrote, 'We have not achieved operating profitability since our formation. Our net losses after tax were $19.2 million for the three months ended March 31, 2025 and $25.5 million for the prior year period. As of March 31, 2025 we had an accumulated deficit of $988.8 million compared to an accumulated deficit of $969.6 million as of December 31, 2024. We anticipate that we will continue to incur losses until we sufficiently commercialize our technology.' Kate Walsh, LanzaTech's VP of Investor Relations and Tax, told Pioneer Press that LanzaTech is in a transition phase and is ready to put into practice the research knowledge it has gained these past few years. 'We're pivoting the company from a Research and Development hub to one that's commercially focused on deploying our proven technology,' Walsh said. '…So there's a transition that comes along with that.' Walsh said the downsizing and the growing demand for sustainable aviation fuel, especially with regulated markets in the UK and the EU, will help make the company profitable. The decision to downsize the company was not influenced by the political climate regarding green energy, nor the tariffs, she added. LanzaTech also will save money by cutting in half the space it rents at the Skokie tech park, from 106,661 to 53,616 square feet, effective July 1, per SEC filings. Per the filings, LanzaTech said it was unsure how the layoffs will affect health of the company overall, 'and may result in significant adverse consequences.' As LanzaTech moves forward, the group also runs into danger of having its stock delisted from the Nasdaq due to its low valuation, per the filing. Delisted companies generally face steep challenges in raising money. The village of Skokie's Director of Communications and Community Engagement Patrick Deignan released a statement on behalf of the village. 'Innovative companies like LanzaTech play a vital role in strengthening Skokie's local economy, supporting high-quality jobs and enhancing the Village's longstanding reputation as a center for scientific advancement. The Village remains committed to fostering a strong climate for innovation and will continue supporting the success of LanzaTech and other companies contributing to our community and beyond.' 'LanzaTech is an important part of Skokie's science, technology and local business landscape,' said Mayor Ann Tennes in a statement emailed to Pioneer Press. 'Although we're disappointed that the company's strategic actions will result in a reduction in their local workforce, we remain confident in LanzaTech's future and the continued impact they'll make here in Skokie and around the world.'
Edinburgh Live
15-05-2025
- Entertainment
- Edinburgh Live
Prince William desperate to 'shed image' as he prepares for job he 'doesn't want'
Our community members are treated to special offers, promotions and adverts from us and our partners. You can check out at any time. More info Prince William is frequently recognised as one of the most popular members of the Royal Family, having meticulously cultivated an image of a modern man who balances his roles as a father and husband with his public duties. He and Kate Middleton are currently the most influential royal couple, earning widespread acclaim for their parenting approach with their children, Prince George, 11, Princess Charlotte, 10, and Prince Louis, seven, largely kept out of the public eye. However, behind closed doors, William has been accused of not being as dedicated to his responsibilities as he could be. Even prior to Kate's cancer diagnosis, the royal engagement league tables raised questions, with both consistently trailing behind older members of The Firm. While figures like Princess Anne and the King seldom take a day off, William has reportedly frustrated Palace staff with his reluctance towards official engagements, particularly those outside the UK. Despite 2024 being an exceptionally challenging year for the Prince, courtiers noted that he still managed to enjoy trips to Germany for the European Championships, and South Africa for his Earthshot prize, despite declining to undertake royal visits. (Image: Jordan Pettitt -) It was reported that last month, King Charles had to assert his authority and instruct a hesitant William to attend Pope Francis' funeral in Rome. William's perceived lack of work ethic was highlighted in a recent New York Times article discussing the family's feud with Prince Harry. Experts suggest that he is attempting to discard this image by crafting a new one, reports the Scottish Daily Express. Historian Ed Owens said that William was "burnishing his reputation as a statesman". He added: "William has sometimes been seen as work-shy, but we see him gravitating toward bigger, more media-friendly events." (Image: PA) Whilst William's public appearances are less frequent compared to his father, they have been significant in recent months. In December of the previous year, he attended the reopening of Notre-Dame Cathedral in Paris, an occasion which allowed him to spend time with US President Donald Trump. Despite his visit to the Vatican being under duress, according to insiders, it was another major global event where William was present. The cancer diagnosis of King Charles has shifted focus towards the future of the monarchy. Mark Landler, the London bureau chief for the NYT, observes that the "job that William does not want, at least for now, is his father's" However, he notes that "fears over the king's health have made talk of succession inescapable".
Straits Times
06-05-2025
- Entertainment
- Straits Times
Attenborough film on ocean's resilience attracts King Charles to premiere
FILE PHOTO: Tennis - Wimbledon - All England Lawn Tennis and Croquet Club, London, Britain - July 1, 2024 Broadcaster David Attenborough is seen before the first round match between Spain's Carlos Alcaraz and Estonia's Mark Lajal REUTERS/Hannah Mckay/ File Photo LONDON - British naturalist David Attenborough says there is hope for the future of the planet's oceans despite the scale of their damage in his new film which premiered on Tuesday evening with King Charles in attendance. In his latest work "Ocean", Attenborough, one of the world's best-known nature broadcasters and filmmakers whose work spans seven decades, charts the challenges faced by the seas over his lifetime, from destructive industrial fishing practices to mass coral reef bleaching. "After almost 100 years on the planet, I now understand the most important place on Earth is not on land, but at sea," he says in a trailer of the movie. Its full release in cinemas on Thursday coincides with Attenborough's 99th birthday. "When David Attenborough started there were two TV channels and everybody knew him as the voice of nature. Now there are hundreds of channels, social media but yet he is still the voice for nature," Enric Sala, an executive producer of the film and National Geographic Pristine Seas founder, said in an interview. Tuesday's evening premiere in London, which was also attended by other guests including former U.S. climate envoy John Kerry and actress and model Cara Delevingne, followed a daytime screening for students and teachers which was also watched by Prince William, although he did not speak at the event. The heir-to-the throne, like his father King Charles, has championed protecting the planet launching his multi-million Earthshot Prize in 2020, to help spur novel environmental solutions. Attenborough has also forged a strong relationship with the royal family and is a supporter of the Earthshot prize and filmed a documentary in 2018 with the late Queen Elizabeth, "The Queen's Green Planet". Sala said it was important to showcase Attenborough's film to younger viewers. "We hope that the younger generations coming to the screening today are going to feel so inspired that they will want to be the David Attenborough of the future," Sala said. Despite depicting the bleak current state of the health of the ocean, discoveries of restored seabeds during filming offer hope. "The ocean can recover faster than we had ever imagined, it can bounce back to life," Attenborough says in the film. "If we save the sea we save our world. After a lifetime of filming our planet I'm sure nothing is more important." The film's release comes ahead of the United Nations Ocean conference in June where it is hoped more countries will ratify a 2023 agreement to protect ocean biodiversity, which currently lacks sufficient signatories to come into force. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
