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LanzaTech, a Chicago-area company that says it turns pollution into cool things such as fuels and chemicals, has gotten lots of U.S. tax money.
And guess what country LanzaTech is tight with? Of course.
The Biden administration has given the company $10 million in grant payments since April 2021, when LanzaTech announced it was working closely with Sinopec Capital, The Washington Free Beacon reported Wednesday.
Sinopec Capital is the green energy investment arm of the Chinese state-owned oil conglomerate Sinopec Group, also known as the China Petrochemical Corp., the report said.
LanzaTech’s filings with the Securities and Exchange Commission concede that its tight ties to Sinopec could affect its financial returns. What’s more, Sinopec is the means by which China buys oil from Iran and Russia, which are under U.S. sanctions.
It’s all so cozy.
In an SEC filing on Nov. 14, LanzaTech admitted that “we are subject to the risk that the Chinese government may intervene or influence our operations at any time.”
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