Velocys PLC - Oxford, England-based fuels technology company - Welcomes US government announcement last week of a set of comprehensive new policy actions in support for Sustainable Aviation Fuel production in the US. Notes 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.
Chief Executive Officer Henrik Wareborn says: "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."
Current stock price: 5.05 pence
Year-to-date change: down 53%
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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