Transfer of FT Reactors to Velocys from ENVIA
27 Mar 2019
Ownership of the two Velocys FT reactors returns to Velocys on conclusion of the technology demonstration run at the ENVIA site in Oklahoma City.
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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.”
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For further information, please contact:
Henrik Wareborn, CEO
+ 44 1235 838621
Numis Securities (Nomad and joint broker)
+44 20 7260 1000
Canaccord Genuity (Joint broker)
+44 20 7523 8000
Camarco (UK financial communications & PR)
+44 20 3757 4983
Scoville Public Relations (Velocys US public relations)
+1 206 625 0075 #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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