Velocys PLC Site secured for UK waste-to-jet-fuel project (9049K)
19 December 2018 - 6:00PM
UK Regulatory
TIDMVLS
RNS Number : 9049K
Velocys PLC
19 December 2018
News release
Velocys plc
("Velocys" or "the Company")
19th December 2018
Site secured for UK waste-to-jet-fuel project
Velocys plc (VLS.L), the renewable fuels company, is pleased to
announce that it has secured a site for the UK waste-to-jet-fuel
project which it is developing in collaboration with British
Airways and Shell.
The site of approximately 80 acres, near Immingham, North East
Lincolnshire, is in an Enterprise Zone and earmarked for industrial
development within the Local Plan. Development is subject to
planning consent; the formal planning application process is
expected to begin in 2019.
Altalto Immingham Ltd, a subsidiary of Velocys, has entered into
an option agreement which gives it the right, but not the
obligation, to acquire Rula Developments (Immingham) Limited, the
company which owns the site, for up to three years. The project
team is developing the engineering and business case for the
project, and the project is also subject to funding and a final
investment decision, which would include a decision to proceed with
the acquisition of the Immingham site. In the event that the
Company in consultation with its partners decides not to proceed
with the purchase, the liabilities incurred as a result of the
agreement are not material to Velocys.
- Ends -
For further information, please contact:
Velocys
Henrik Wareborn, CEO +44 1235 838 621
Numis Securities (Nomad and joint broker)
Alex Ham
Stuart Skinner
Jamie Lillywhite
Tom Ballard +44 20 7260 1000
Canaccord Genuity (Joint broker)
Henry Fitzgerald-O'Connor
Ben Griffiths +44 20 7523 8000
Camarco (UK financial communications & PR)
Billy Clegg
Georgia Edmonds
Tom Huddart +44 20 3757 4983
Scoville Public Relations (US public relations) +1 206 625 0075
John Williams #1
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.
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END
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