26th November 2015
Velocys plc (VLS.L), the company at the forefront of smaller scale gas-to-liquids (GTL), is pleased to announce the successful completion of pilot plant tests that demonstrate significant process intensification, increasing capacity and productivity and improving commercial plant economics.
Advances made at the pilot plant have already been incorporated into the design of the 4,800 barrel per day Ashtabula GTL plant that the Company is developing in Ohio.
Dr Paul Schubert, Chief Operating Officer of Velocys explained the significance of the latest Velocys pilot plant results in a BRR Media webcast, which can be viewed here.
Dr Paul Schubert, Chief Operating Officer of Velocys, said:
"These results are a reflection of the tremendous progress that our in-house technical teams have made and are continuing to make, quietly in the background, in what has been a delivery-focused year for the business.
"Velocys technology has now been tested for over 24,000 hours at the pilot and demonstration scale and for over 1.3 million hours in the laboratory. We enter our commercial phase with a technology that has been developed with rigour and thoroughness and in which we, our clients and partners can have every confidence."
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Velocys is the company at the forefront of smaller scale gas-to-liquids (GTL) that turns natural gas or biomass into premium liquid products such as diesel and jet fuel. Smaller scale GTL adds value to shale gas and bio-waste, 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 multi-disciplinary staff of around 100 operating from its commercial centre in Houston, Texas, USA and technical facilities near Oxford, UK and Columbus, Ohio, USA. Its first commercial plant, funded by Waste Management (NYSE: WM), NRG Energy (NYSE: NRG) and Ventech Engineers, is expected to reach mechanical completion in H1 2016.
Think Smaller™. Velocys is changing the way fuels are made.
About Velocys technology
Velocys' Fischer-Tropsch (FT) reactor and catalyst system delivers high conversion efficiency and high yield of high value products.
Particularly in today's oil price environment, project owners and developers need to select the technology that will allow them to achieve the best possible economic returns from their plant.