Velocys PLC Launch of Ohio Technology Facility
23 October 2023 - 5:04PM
RNS Non-Regulatory
TIDMVLS
Velocys PLC
23 October 2023
News release
23 October 2023
Launch of 52,500 sq. ft State of the Art Technology Facility
OHIO: Velocys, the sustainable fuels technology company, is
delighted to announce the launch of its new 52,500 sq. ft
technology facility in Plain City, Ohio that will house the reactor
core assembly and catalysis operations which form a critical part
of the production process for sustainable aviation fuel
("SAF").
The new site enables the consolidation of Velocys' catalysis
services, microchannel reactor core assembly and technology
licensing under one roof. The building's construction began in
mid-2022 and was finished by the end of the year with fit out
completed over the Winter.
Following the completion of an Enterprise Zone agreement signed
with Union County and Jerome Township, Ohio for a package of
investment incentives and a grant received from JobsOhio, Velocys
has already hired a number of senior personnel.
The Company is currently occupying the space with 20 employees
and installing equipment which is expected to be fully commissioned
for production from mid-2024. Eventually the facility will house
approximately 35 employees when in full production.
The new site has the capacity to produce approximately 48 cores
per year, enough to support 12 reactors which is the typical
requirement for the operation of a single commercial scale SAF
biorefinery, with a capacity to convert approximately 1TWh per year
of energy.
It is expected that the facility will have sufficient production
capacity to meet projected orders until 2028, including those from
Velocys' two biorefinery reference projects - Bayou Fuels,
Mississippi and Altalto, Immingham, UK.
As part of a 15 year lease agreement, Velocys contributed $2m
towards the construction with the remaining $8m being contributed
by the developer, Warner Industrial Corporate Centers 2 LLC, a
subsidiary of Ohio-based developer, The Pagura Company.
The launch event will take place at 10.00am local time on
Tuesday 24 October, 8520 Warner Road, Plain City, Ohio 43064 in the
presence of Velocys executives, clients, board members, local
stakeholders and colleagues.
Henrik Wareborn, Velocys CEO, said : "The completion of this
state of the art facility is a real milestone both for Velocys and
for the move to decarbonise the aviation industry. It is another
critical piece in the jigsaw to go alongside the support we are
receiving from regulatory and policy initiatives in all of our core
markets. I would like to offer my thanks to the State of Ohio along
with the many contractors who have completed this project in such a
short time frame. To move from planning permission to completion in
two years is a testament to all those involved and takes us a big
step closer to enable our clients to produce SAF with ultra-low
carbon intensity at commercial scale."
To attend the launch or request interviews and imagery please
use the contact details below:Rae Baker / rae.baker@velocys.com
About Velocys
Velocys is an LSE-listed, international sustainable fuels
technology company, traded on the AIM, providing customers with a
technology solution to enable the production of negative Carbon
Intensity synthetic, drop-in fuels from a variety of waste
materials. Synthetic fuel is the only commercially available,
permanent alternative to fossil aviation fuels. The Velocys
technology is IP-protected in all major jurisdictions.
Two reference projects (Bayou Fuels, US, and Altalto Immingham,
UK) are designed to accelerate the adoption and standardise the
Velocys proprietary Fischer Tropsch ("FT") technology with an
integrated end to end solution, including renewable power and
carbon sequestration.
Velocys is enabling commercial scale synthetic fuel production
in response to the clean energy transition, with significant
additional positive air quality impacts.
www.velocys.com
END
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