Directorate Change

RNS Number : 7516G

Velocys PLC

24 November 2015

 

News release

Velocys plc

("Velocys" or "the Company")

24^th November 2015

Directorate change

Velocys plc (VLS.L), the company at the forefront of smaller scale gas-to-liquids (GTL), announces that Andrew Jamieson, a Non-executive Director of the Company, has stepped down from the Board with effect from 21 November 2015 in order to devote more time to his other interests. He is currently the President of the Institution of Chemical Engineers and has recently been appointed to the Board of Gaztransport & Technigaz. He also holds Board positions at a number of other companies including Woodside Energy Ltd.

Pierre Jungels, Chairman of Velocys said:

"The Board is grateful to Andrew for his advice and support as a Non-executive Director since his appointment in early 2010. During this period of five and a half years, Velocys has developed into a substantial company with proven technology on the verge of commercialisation. Our first plant in Oklahoma City, USA, is now under construction, we have a healthy pipeline of future projects and our pilot plant has fully validated our technology.

"As previously announced, our search for a new CEO continues and progress on this appointment is in line with our expected timeframe. In addition to the recently announced appointment of Mark Chatterji as a Non-executive Director, the Board also expects to announce shortly a further NED appointment.

Andrew Jamieson said:

"I leave Velocys as the recognised world leader in smaller scale GTL, an achievement I feel proud the team has delivered. Velocys is set for the next phase of its journey now that the technology is proven and build of the commercial reference plant is underway. I have greatly enjoyed my time as Non-executive Director of Velocys, and wish the Company and the team all the best for the future."

- Ends -

For further information, please contact:

Velocys Susan Robertson, CFO and acting CEO	[phone]
Numis Securities (Nomad and Broker) Alex Ham - Corporate Broking Stuart Skinner / Jamie Lillywhite - Nominated Adviser	[phone]
Camarco (financial communications & PR) Billy Clegg / Georgia Mann	[phone]

Notes to editors

About Velocys

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.

www.velocys.com

Think Smaller™. Velocys is changing the way fuels are made.

 

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