Business News: Lanzatech and Pacific Edge

Posted by on Oct 23, 2013 in Business | No Comments

NZ biofuels company Lanzatech has been named as one of the top two bio-tech companies in the world by industry publication Bio-Fuels Digest.  The Auckland-based company turns smoke-stack emissions into aviation gas and is engaged in “investment alliances” ranging from U.S. defense contractors to British aviation entrepreneur Richard Branson’s airlines and with a variety of Asian interests.  The company’s latest accounts show it steadily burning through $74m of new capital raised from shareholders in 2011 despite increasing sales as it goes on an aggressive expansion drive. The company expects to raise new capital from shareholders early next year, it said today.

Also, in the NZ business world, Pacific Edge plans to raise $20m from shareholders to increase its sales force in the US market.  The Dunedin-based company is hawking a bladder cancer test using a urine sample.  The test is cheaper and much less invasive than existing tests and has led to two major U.S. healthcare groups agreeing to buy the product in the last week.  The NZX-listed company’s share price has more than doubled in the past week as U.S. investors in particular have piled into the stock off the back of its recent sales announcements.