Manufacture of reactors and catalyst complete
News release
Velocys plc
("Velocys" or "the Company")
2nd September 2015
Manufacture of reactors and catalyst complete
Velocys plc (VLS.L), the company at the forefront of smaller scale gas-to-liquids (GTL), is pleased to announce that the manufacture of the full-scale commercial Fischer-Tropsch reactors for ENVIA Energy's Oklahoma City GTL project is complete. All ASME (American Society of Mechanical Engineers) certifications required for the reactors prior to installation and commissioning of the plant have been issued. All other QA/QC protocols have been fully achieved.
Commercial production of the initial Fischer-Tropsch catalyst charge for the ENVIA plant has also been completed by world class manufacturers and certified by Velocys' quality control protocols. The catalyst meets all performance criteria for the ENVIA project, with excellent alignment of test results between commercially-produced and laboratory-produced catalysts.
Fabrication of the modular process units is continuing at Ventech in Pasadena, Texas. Mechanical completion of the plant is expected to be in H1 2016.
ENVIA Energy is a Joint Venture between Waste Management, Inc (NYSE:WM), NRG Energy, Inc (NYSE:NRG), Ventech Engineers International LLC, and Velocys plc (LSE:VLS), formed in March 2014 to produce renewable fuels and chemicals from biogas and natural gas using GTL. The ENVIA Energy Oklahoma City project will provide a commercial reference plant for the use of Velocys' technology.
Meanwhile, ENVIA Energy is to be awarded the highly prestigious Vanguard award at Keep Oklahoma Beautiful's 25th Environmental Excellence Awards Celebration on 30th November 2015.
Susan Robertson, CFO and acting CEO of Velocys, said:
"Velocys continues its drive towards our goals, first and foremost being the delivery of our commercial reference plant in Oklahoma City. The completion of the catalyst and reactors is an important milestone, and we and our joint venture partners continue to make solid progress on ENVIA's project.
"We were also delighted to hear that ENVIA is to receive a well-respected state-level environmental award."
- Ends -
For further information, please contact:
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Velocys Susan Robertson, CFO and acting CEO
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+44 1235 841 700
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Numis Securities (Nomad and Broker) Alex Ham - Corporate Broking Stuart Skinner / Jamie Lillywhite - Nominated Adviser
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+44 20 7260 1000 |
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Camarco (financial communications & PR) Billy Clegg / Georgia Mann
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+44 20 3757 4983
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Photos available on request
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 over 800 patents, 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 over 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 ENVIA Energy
ENVIA Energy LLC is the joint venture between Waste Management, NRG Energy, Ventech Engineers International and Velocys, formed in March 2014 to produce renewable fuels and chemicals from biogas and natural gas using GTL technology. The first plant it is developing, ENVIA Energy Oklahoma City, is adjacent to Waste Management's East Oak landfill.
About Waste Management
Waste Management, Inc., based in Houston, Texas, is the leading provider of comprehensive waste management services in North America. Through its subsidiaries, the company provides collection, transfer, recycling and resource recovery, and disposal services. It is the largest residential recycler and also a leading developer, operator and owner of landfill gas-to-energy facilities in the United States. The company's customers include residential, commercial, industrial, and municipal customers throughout North America.
About NRG Energy
NRG is leading customer-driven change in the U.S. energy industry by delivering cleaner and smarter energy choices, while building on the strength of the nation's largest and most diverse competitive power portfolio. A Fortune 250 company, we create value through reliable and efficient conventional generation while driving innovation in solar and renewable power, electric vehicle ecosystems, carbon capture technology and customer-centric energy solutions. Our retail electricity providers serve almost 3 million residential and commercial customers throughout the country.
About Ventech
Ventech Engineers International LLC is a global leader in the design and construction of modular refineries, gas processing systems, plant relocations, and specialized fabrications for the chemical, refining, and gas production industries. The corporate office and fabrication complex are located in Pasadena, Texas. Additional offices are located in Ankara, Turkey, Moscow, Russia and Alabang, Philippines.
About Keep Oklahoma Beautiful's Vanguard award
Keep Oklahoma Beautiful is a nonprofit organization based in Oklahoma and founded in 1965. Its mission is to "empower Oklahoma citizens to preserve and enhance the state's natural beauty and ensure a healthy, sustainable environment". The organization's highly prestigious Vanguard award recognizes groups embracing cutting-edge technologies and concepts in support of a sustainable planet.
Please see below a link to Keep Oklahoma Beautiful's full press release:
This information is provided by RNS
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