News

Velocys fulfils order for biorefinery project in Japan

13 Nov 2019

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 19th 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
Andrew Morris, CFO
+44 1235 838 621

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.

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.