LanzaTech annual loss widens to $40.5M as biotech firm scales up, hires workers

LanzaTech annual loss widens to $40.5M as biotech firm scales up, hires workers
By Jonathan Underhill July 15 (BusinessDesk) - LanzaTech New Zealand, which counts US billionaire clean-tech investor Vinod Khosla as its biggest shareholder, posted a wider full-year loss as the company scales up technology that uses microbes to convert industrial waste gases into fuel-grade ethanol and other useful chemicals. The Chicago-based biotech firm reported a loss of $40.5 million in calender 2013, from a loss of $35.1 million a year earlier, according to its annual report. Sales rose 21 percent to $5.7 million, with US customer...