Velocys PLC Velocys fulfils order for bio-jet project in Japan (1873T)
13 November 2019 - 6:00PM
UK Regulatory
TIDMVLS
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 +44 1235 838
Andrew Morris, CFO 621
Numis Securities (Nomad and joint broker)
Alex Ham
Stuart Skinner
Tom Ballard +44 20 7260 1000
Canaccord Genuity (Joint broker)
Henry Fitzgerald-O'Connor
James Asensio +44 20 7523 8000
Radnor Capital (Investor relations)
Joshua Cryer
Iain Daly +44 20 3897 1830
Field Consulting (PR)
Robert Jeffery +44 20 7096 7730
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.
This information is provided by RNS, the news service of the
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Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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