Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Wondering whats going to happen with Immingham. Substantial funding is required and with BA and probably Shell (after BP results) struggling financially will they be inclined to commit further at this stage. I guess we'll see how firm the Govt commitment is going to be but huge funding is needed. I think 5 years is a bit optimistic for build and supply and revenue will probably come primarily from licensing
It looks like a quick review of the history with Red Rock Biofuels (RRB) would be useful:
- July 2013: RRB selects Velocys' FT technology for their planned biomass to liquids plant
- May 2018: VLS receives a "notice to proceed" action to commence manufacturing of FT reactors and catalyst for the RRB biorefinery.
- February 2019: The agreement with RRB is amended to reduce the initial order of 6 reactors to 4. In return, VLS received £1.4 M directly with a reduction of future payments.
Comment on Wareborn's statement: "Our reactor supply chain has now been tested and has proven our capability to deliver our technology to our global clients." But it took more than 2 years to manufacture these 4 reactors. What is the maximum capacity of this reactor supply chain?
Thanks for info
They have so far sold reactors and are currently working towards building the Altato Immingham plant to which they have planning permission. Shell and British Airways have an option to each buy a third of this plant. I would believe that VLS would receive money from sales of the fuel if they retain a third of the ownership of this new plant themselves.
Can anyone enlighten me. Do they just build and sell reactors or do they have some sort of license agreement where they get a percentage of fuel sales going forward?? Very interesting company
Play another one of the hits RadioXPB, I miss "build the wall", no wait that should be "Shell wouldn't want to invest in this venture during the current climate"
Just like ENVIA. And we know how that turned out...
Is this for a new site in States, for the pilot line in States or part of equipment integration stage?
I can see where expat is coming from. It seems like a follow up to the main news of agreeing the initial sale. But it's a nice milestone and VLS can be proud of fulfilling the order. It's like everyone's first job/first salary pay.
Presumably potential new clients now have a site they can visit and see the product in action, massive marketing advantage
Radio XPB - soothing tones that change with trading directions.
Seriously tho. . If VLS had new orders then great, that’s something to celebrate. But this is just not news imho. Clearly a quiet period in the VLS comms dept.
Ahhh the soothing mellow tones of the short trader are back
Why is this news? They’ve fulfilled an order. It’s not exactly worth popping the champagne corks for!
Sorted just re-read the Feb 2019 RNS...Total Revenue $13m - $15m
Does anyone know what initial and ongoing revenue this will generate ?
Great news...and option for a further 2. Nice
News Release
Velocys plc
("the Company")
3rd 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."