London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Velocys plc (VLS.L) welcomed the US Government announcement last week of a set of comprehensive new policy actions in support for Sustainable Aviation Fuel (SAF) production in the US. Velocys is cited in a White House briefing paper setting out the Biden administration's plans to incentivise commercial scale supply of SAF in the US to meet decarbonisation objectives while stimulating economic growth.
The briefing factsheet can be viewed at:
https://www.whitehouse.gov/briefing-room/statements-releases/2021/09/09/fact-sheet-biden-administration-advances-the-future-of-sustainable-fuels-in-american-aviation/
The central new policy incentive is a Sustainable Aviation Fuel tax credit as part of the Build Back Better Agenda. This credit will help cut costs and rapidly scale domestic production of sustainable fuels for aviation. The proposed tax credit requires at least a 50% reduction in lifecycle greenhouse gas emissions and offers increased incentive for greater reductions.
In addition, the US government plans to make available new and ongoing funding opportunities to support sustainable aviation fuel projects and fuel producers totalling up to $4.3 billion.
T his follows on from Velocys' announcement that the UK Government supported the Altalto SAF project in the UK with a grant award of GBP2.4m to British Airways and Velocys, and the Japanese Government support for our clients in Japan who are expected to use Velocys' patented FT technology for a commercial scale biorefinery producing SAF from woodchips.
Henrik Wareborn, Velocys CEO, said:
"The momentum in the transition away from fossil fuels into sustainable synthetic fuels is growing globally. Velocys proprietary Fischer Tropsch microchannel technology provides the core enabling conversion process for commercial scale production of SAF from a range of abundantly available sustainable feedstocks with no other alternative use.
"The announcement by the Biden administration last week provides critical support for our leading reference project in Mississippi supporting attractive investment returns for energy transition investors driving decarbonisation of aviation."
Excellent Rns. Hopefully good day beckons
It has begun. 2nd load done yesterday…need this to stay steady another few days for the 3rd and final top up! :-)
Mms took this down on bad news many months ago. This should be over 7p plus on news today. Vls mentioned in the States. Shows the worth of the company
Brilliant news .. i do find it a little weird that there is very little investor excitement about this, this is potentially as big as when Grant Shapps spiked the share price that time with his announcement of Government support.
23 September 2021
Velocys Gross Profit £3.3m first half 2021
Velocys plc (VLS. L), the sustainable fuels technology company, is pleased to announce its interim results for the six months ended 30 June 2021.
Henrik Wareborn, CEO of Velocys, said:
"Our interim results demonstrate that Velocys has achieved an important milestone, recognising £8.2m of revenue and £3.3m gross profit in HY2021 from our first major commercial customer contract. The downwards trend in our operating loss continued, declining to £2.0m in HY2021 from £2.6m in HY2020 (£5.2m in HY2019 and £11.0m in HY2018). This shows that the Company is controlling its spending well whilst also delivering to our customers and progressing our two reference projects towards funding for their FEED stages and then onto financial close.
"At the same time, I am pleased with the safe and efficient operational performance of Velocys despite the challenges of COVID-19, and excited about the sustainable fuels market dynamics and the business development opportunities available to us for the short, medium and long term."