First product at ENVIA Energy's GTL plant

RNS Number : 0488W

Velocys PLC

06 February 2017

 

News release

Velocys plc

("Velocys" or "the Company")

6 February 2017

First product at ENVIA Energy's GTL plant

Velocys plc (VLS.L), the company at the forefront of smaller scale gas-to-liquids (GTL), is pleased to announce that first Fischer-Tropsch product has been successfully produced at ENVIA Energy's GTL plant in Oklahoma City.

These products are fractionated on site to produce premium wax, diesel and naphtha. The fuels produced at the plant are expected to qualify under the Renewable Fuels Standard (RFS) and generate tradeable credits in the form of Renewable Identification Numbers (RINs).

The operations team will now focus on ramping up production to full capacity and preparing for the performance test run on the plant.

David Pummell, CEO of Velocys, said:

"This is a landmark event for Velocys' technology and its commercial reference plant. We are delighted that the commissioning team has delivered a safe and successful start-up of the Fischer-Tropsch modules and upstream units at ENVIA during a challenging period of exceptionally cold weather. First product represents a major milestone for Velocys, ENVIA and the wider industry, and will be a springboard for the successful implementation of Velocys' new strategy. The next goal for the ENVIA plant is to ramp up to full capacity, stable operation over the coming months. We look forward to inviting key stakeholders to visit the first commercial smaller scale GTL plant in the world."

- Ends -

For further information, please contact:

Velocys David Pummell, CEO Susan Robertson, CFO	[phone]
Numis Securities (Nomad and joint broker) Alex Ham Stuart Skinner Jamie Lillywhite Tom Ballard	[phone]
Canaccord Genuity (Joint broker) Henry Fitzgerald-O'Connor Ben Griffiths	[phone]
Camarco (Financial communications & PR) Billy Clegg Georgia Edmonds	[phone]

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

About Velocys

Velocys is the company at the forefront of smaller scale gas-to-liquids (GTL), providing the bridge connecting stranded and low value feedstocks such as natural gas, landfill gas or biomass with markets for premium products such as renewable diesel, jet fuel and waxes.

With its partners, Velocys aims to deliver the most economically compelling conversion solution; a fully integrated offer that can be deployed at scale into the growing, attractive markets on which it focuses. 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. Standardised modular plants can be deployed readily in a wide range of locations, and Velocys' capabilities and extensive experience deliver a proven route to operation.

Velocys plc is admitted to trading on the AIM market of the London Stock Exchange (LSE: VLS). The Company has a strong, multi-disciplinary staff operating from its commercial centre in Houston, Texas, USA and technical facilities near Oxford, UK and Columbus, Ohio, USA. First product has been produced at its commercial reference plant, which is located adjacent to Waste Management's East Oak landfill site in Oklahoma City.

www.velocys.com

 

END

 

 

PRLOKPDBNBKDKBK