Velocys fulfils order for bio-jet project in Japan

RNS Number : 1873T

Velocys PLC

13 November 2019

 

News release                      

Velocys plc     

("Velocys" or "the Company")

13 November 2019

Velocys fulfils order for biorefinery project in Japan

Velocys plc (VLS.L) is pleased to announce that it has constructed and now delivered Fischer-Tropsch (FT) reactors and catalyst to Toyo Engineering Corporation (Toyo) for use in a biomass-to-jet fuel demonstration facility in Nagoya, Japan.

Toyo is currently constructing the bio-jet fuel facility as part of a consortium of Japanese companies. The order for Velocys was previously announced on 19^th September.

This delivery is in addition to the successful ongoing work that the Company is performing both in the UK and USA on its flagship projects. The board is pleased with the progress of execution against the Company's business plan.

Henrik Wareborn, CEO of Velocys, said:

"I am pleased that we have fulfilled the purchase order for Toyo, and look forward to the completion and operation of the demonstration plant.  This facility highlights the increasing and global commitment to sustainable aviation fuel production." 

For further information, please contact:

Velocys Henrik Wareborn, CEO Andrew Morris, CFO	[phone]
Numis Securities (Nomad and joint broker) Alex Ham Stuart Skinner Tom Ballard	[phone]
Canaccord Genuity (Joint broker) Henry Fitzgerald-O'Connor James Asensio	[phone]
Radnor Capital (Investor relations) Joshua Cryer Iain Daly	[phone]
Field Consulting (PR) Robert Jeffery	[phone]

Certain information contained in this announcement would have constituted inside information (as defined by Article 7 of Regulation (EU) No 596/2014) prior to its release as part of this announcement.

www.velocys.com 

Notes to editors

Velocys is a British sustainable fuels technology company. Originally a spin-out from Oxford University, in 2008 the company acquired a US company based on complementary technology developed at the Pacific Northwest National Laboratory. Over 15 years Velocys has developed proprietary Fischer-Tropsch technology that enables the production of drop-in transport fuels from the embedded carbon-sources in a variety of waste materials. Having demonstrated its technology at commercial scale, Velocys is currently developing projects in Natchez, Mississippi, USA and Immingham, UK to produce fuels that significantly reduce both greenhouse gas emissions and key exhaust pollutants for aviation and road transport.

 

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