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The Latest SPAC News and Rumors: October 24, 2022
by Marlena Haddad on 2022-10-24 at 11:37am

 


Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: Archer Aviation plans to build 250 air taxis in 2025, and NextChem awards LanzaTech an engineering contract


Archer Aviation plans to build 250 air taxis in 2025

Archer Aviation Inc (NYSE:ACHR) said it aims to make about 250 battery-electric air taxis in 2025 and scale up production in the following years, after setting a goal of getting its aircraft certified by the end of 2024.

“In our first year, we will build 250 aircraft, our second year will build 500 aircraft, our third year will build 650 aircraft and then we scale it up to around 2,000 aircraft per year,” CEO Adam Goldstein told Reuters in an interview.

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NextChem Kicks Off the Engineering Phase of Rome Hydrogen Valley and Awards LanzaTech the Process Design Contract for the Circular Ethanol Unit

Maire Tecnimont S.p.A. announces that NextChem, through its subsidiary MyRechemical, has kicked off the engineering phase of Hydrogen Valley in Rome, which is based on NextChem’s waste-to-chemical technology and has received the EU Commission grant within IPCEI HY2USE initiative, as already communicated.

NextChem has started, through MyRechemical, the engineering of waste conversion to Circular Gas™ that will be the feedstock for the ethanol and hydrogen production. In this framework, NextChem has awarded LanzaTech an engineering contract to deliver a process design package for a syngas fermentation unit to produce circular ethanol for sustainable mobility and chemicals based on its biocatalyst technology.

As announced on March 8th, 2022, LanzaTech has entered into a merger agreement with AMCI Acquisition Corp. II (Nasdaq: AMCI).

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