India rising to the top of the bioeconomy

In March we reported that Indian Oil Corporation will acquire a 4% stake in LanzaTech for $20 million, in a transaction that values the #1 ranked company in the Hot 50 at $500 million. The investment will be made through the IOC Singapore Pte Ltd subsidiary. Last July, we reported that IOC and LanzaTech signed a Statement of Intent to construct the world’s first refinery off gas-to-bioethanol production facility in India.