Singapore: Forbes magazine's top 100 list of America's 'most promising privately held companies' has ranked LanzaTech, a producer of low-carbon fuels and chemicals from gases, at number 48. LanzaTech is the only clean energy or bioscience firm in the top 50. LanzaTech, which is now headquartered in the US, was founded in New Zealand and retains an extensive R&D base in that country.

Dr Jennifer Holmgren, CEO, LanzaTech, said that, "The recognition is validation of our approach to reducing emissions through innovative technology and solid partnerships with major players in industries around the world."

Forbes magazine, which reaches 4.5 million readers every two weeks and whose website attracts over 30 million unique visitors each month, highlighted that the final assessment for its top 100 most promising list was determined by considering several variables, including growth, quality of management, team and investors, margins, market size and key partnerships.

The list was prepared by Forbes with the help of CB Insights' Mosaic software, which datamines millions of online documents and extracts company-specific data related to hiring, customer and partner signings, product sentiment and financing information. Forbes editors also verified sales numbers, spoke with each company, and internally debated 'merits and blemishes' prior to finalizing the list.