Velocys PLC Directorate Change (3806K)
21 September 2016 - 4:01PM
UK Regulatory
TIDMVLS
RNS Number : 3806K
Velocys PLC
21 September 2016
News release
Velocys plc
("Velocys" or "the Company")
21st September 2016
Directorate change
Velocys plc (VLS.L), the company at the forefront of smaller
scale gas-to-liquids (GTL), announces the retirement from the Board
of Dr Jan Verloop, effective immediately. Jan's retirement
coincides with the transition period at ENVIA Energy's GTL project
in Oklahoma City; construction is now complete and early
commissioning steps have begun.
Going forward, the Velocys Board will be made up of three
Executive Directors, a Chairman and four independent Non-executive
Directors. Jan's place on the Nominations and Corporate Governance
Committee will not be filled. Dr Verloop will be retained as a
consultant to the Company.
Dr Pierre Jungels, Chairman of Velocys, said:
"I would like to thank Jan for his very significant contribution
over the last 10 years and wish him well in his retirement. He has
served the Company wisely and faithfully since its original IPO in
2006 during which time his technical and GTL expertise has been
pivotal in guiding the Company's technology development from an
innovative idea to a fully validated system with steel in the
ground at its commercial reference plant."
Dr Jan Verloop said:
"I am proud to have contributed to Velocys' achievements over
the last ten years - the building of a commercial reference plant
is a milestone accomplishment. I wish Velocys and its team every
success in the future."
- Ends -
For further information, please contact:
Velocys
David Pummell, CEO +44 1235 841
Susan Robertson, CFO 700
Numis Securities (Nomad and Broker)
Alex Ham - Corporate Broking
Stuart Skinner / Jamie Lillywhite +44 20 7260
- Nominated Adviser 1000
Camarco (financial communications
& PR) +44 20 3757
Billy Clegg / Georgia Mann 4983
Notes to editors
About Velocys
Velocys is the company at the forefront of smaller scale
gas-to-liquids (GTL) that turns natural gas or biomass into premium
products such as diesel, jet fuel, waxes and base oils. Smaller
scale GTL adds value to a range of gas and biomass resources, and
makes stranded or flared gas economic - an untapped market of up to
25 million barrels per day.
Velocys technology, protected by several hundred patents in over
30 countries, is specifically designed for smaller scales,
combining super-active catalysts with intensified reactor systems.
The Company's standardised modular plants are easier to ship and
faster to install, at lower risk, even in the most remote or
challenging locations. Together with world-class partners, Velocys
works flexibly to unlock gas resources of 15,000 to 150,000 mmbtu
per day, allowing more companies to take advantage of more
opportunities.
Velocys plc is listed on the AIM market of the London Stock
Exchange (LSE: VLS). The Company is well capitalised and has a
strong, multi-disciplinary staff operating from its commercial
centre in Houston, Texas, USA and technical facilities near Oxford,
UK and Columbus, Ohio, USA. Construction is complete at its
commercial reference plant, which is located adjacent to Waste
Management's East Oak landfill site in Oklahoma City.
www.velocys.com
Think Smaller(TM). Velocys is changing the way fuels are
made.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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