Velocys completes Red Rock Biofuels reactor order

RNS Number : 8384U

Velocys PLC

03 August 2020

 

News Release

Velocys plc

(" the Company ")

3^rd   August 2020

Velocys completes Red Rock Biofuels reactor order

Velocys plc (VLS.L), the sustainable fuels technology company, announces that it has completed the manufacturing and delivery of four reactors to Red Rock Biofuels (RRB). RRB has a further option to purchase an additional two reactors by the end of 2020.

Henrik Wareborn, Velocys CEO, said:

"We are very pleased to have completed the reactor order for Red Rock's facility in Oregon, USA, which will produce low carbon sustainable fuels from forestry waste. Our reactor supply chain has now been tested and has proven our capability to deliver our technology to our global clients.

"Velocys has the technology, demonstrated at commercial scale, to enable the production of sustainable fuels. This fuel is essential for the hard to decarbonise transportation sector and will help to meet net zero emissions as required by many Governments."

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For further information, please contact:

Velocys Henrik Wareborn, CEO Andrew Morris, CFO Lak Siriwardene, Head of Communications & Sustainability	[phone]
Numis Securities (Nomad and joint broker) Stuart Skinner	[phone]
Canaccord Genuity (Joint broker) Henry Fitzgerald-O'Connor James Asensio	[phone]
Radnor Capital (Investor relations) Joshua Cryer Iain Daly	[phone]
Field Consulting (PR) Robert Jeffery	[phone]

Notes to Editors

Velocys is an international UK-based sustainable fuels technology company. Velocys designed, developed and now licenses proprietary Fischer-Tropsch technology for the generation of clean, low carbon, synthetic drop-in aviation and road transport fuel from municipal solid waste and residual woody biomass plants currently in construction and development.

Velocys is at present developing two reference projects: one in Natchez, Mississippi, USA (incorporating Carbon Capture, Utilisation and Storage) and one in Immingham, UK, to produce fuels that significantly reduce both greenhouse gas emissions and key exhaust pollutants for aviation and road transport. 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. Velocys is headquartered in Oxford in the United Kingdom.

www.velocys.com

 

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