Velocys PLC Transfer of FT Reactors to Velocys from ENVIA (0993U)
27 March 2019 - 6:01PM
UK Regulatory
TIDMVLS
RNS Number : 0993U
Velocys PLC
27 March 2019
News release
Velocys plc
("Velocys" or "the Company")
27 March 2019
Transfer of FT Reactors to Velocys from ENVIA
Velocys plc (VLS.L), announces it has executed an agreement with
ENVIA Energy, LLC which officially completes the return of
ownership of the two Velocys FT reactors to Velocys from ENVIA upon
the conclusion of this new technology demonstration run at the
ENVIA site in Oklahoma City which was completed last year.
The return of the catalyst and reactors to Velocys was intended
under the terms of the original site license agreement with ENVIA.
The two reactors were transferred to the Velocys Plain City, Ohio
facility late last year for catalyst discharge. An initial review
of the reactors concluded both reactors have met expected
performance and durability measures throughout the allowed
operating envelope.
Henrik Wareborn, CEO of Velocys, said:
"The Velocys FT reactors produced more than 1.6 million litres
of fuels and waxes over the course of this new technology
demonstration at ENVIA. We are pleased that our
post-decommissioning review of the units further shows they
performed as designed not only on start-up, but also over a
significant period of time.
These two reactors and the associated performance data and
learnings from ENVIA will be very valuable for Velocys and our
project partners as we proceed with the development of our two
commercial scale biorefineries in Immingham, UK and Natchez,
MS."
- Ends -
For further information, please contact:
Velocys
Henrik Wareborn, CEO + 44 1235 838621
Numis Securities (Nomad and joint broker)
Alex Ham
Stuart Skinner
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
Ben Woodford
Tom Huddart +44 20 3757 4983
Scoville Public Relations (Velocys US public +1 206 625 0075
relations) #1
John Williams
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
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END
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