** Carbon recycling firm LanzaTech Global's LNZA.O shares rise 5.3% to $1.58 premarket
** On Tuesday, LNZA said it is spinning out its synthetic biology platform, LanzaX, into a joint venture with Tharsis Capital to accelerate project development and financing
** The spin-out of LanzaX is expected to reduce LNZA's cost structure by ~$8 mln annually, company said
** LNZA said it's contributing its existing synbio contracts, 100+ developed molecules, and commercial expertise to LanzaX to accelerate product development
** LNZA said it is appointing a new interim chief financial officer, Justin Pugh, to focus on cost reductions and resource reallocation for its biorefining business
** LNZA fell ~71% in 2024
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com;))
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