22 Sep 2014 09:20
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Don't have an account? Click here to register.Velocys amends reactor deal with Red Rock Biofuels
Tue, 12th Feb 2019 10:01
(Sharecast News) - Velocys announced on Tuesday it has agreed a series of amendments in its licensing contracts with Red Rock Biofuels (RRB), regarding RRB's license of Velocys Fischer-Tropsch reactors and proprietary catalyst for the RRB biorefinery under construction in Lakeview, Oregon.The AIM-traded firm said the amendments were at RRB's request, and allowed it to complete the biorefinery on the client's desired timeline.It said the amended agreement would see Velocys accelerate delivery of the first of four reactors and first four charges of catalyst.The amendments would also reduce the firm commitment for reactors from six to four, although RRB would retain an option to acquire the fifth and sixth reactors until the end of 2020, for delivery at the existing contract price.Those changes had a positive impact on Velocys' near-term cash flow of an estimated $1.1m, and a decrease in revenue of nearly $3m, out of a total contract value of around $15m.Should RRB exercise its option to purchase the two additional reactors, the total contract value would return to around that $15m figure.RRB said it remained committed to purchase a total of six charges of catalyst in 2019."We collaborated with RRB to re-optimise the original agreement to help them complete the biorefinery on their desired timeline," said Velocys chief executive officer Henrik Wareborn."This is an opportunity for us to demonstrate our commitment to delivering for our client the central processing unit in their biorefinery that will convert woody biomass to renewable jet fuel and diesel in Oregon."
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29 Jul 2014 10:31
27 Jun 2014 14:41
Sector movers: Chemical stocks hit by DuPont profit warning
The selling pressure on the UK chemical sector continued on Friday on negative readacross from a profit warning by US giant DuPont, one of the largest chemical companies in the world. The UK chemical sector was down around 0.6% this afternoon and has now fallen 10% over the past month. DuPont decl
Read more25 Jun 2014 13:36
Velocys acquires Pinto Energy and Ashatabula GTL project
Small scale gas-to-liquids (GTL) technology innovator Velocys has acquired Pinto Energy and the Ashtabula project. The acquisition is expected to "stimulate early market adoption" of its technology in North America by quickening the development of "shovel ready" GTL projects. Pinto Energy is curre
Read more19 Jun 2014 10:26
UK WINNERS & LOSERS: BT Up, TalkTalk Down As OFCOM Drops Complaint
LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Thursday.
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FTSE 100 - WINNERS
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Rolls-Royce Holdings, up 5.6%. The maker of aircraft and marine engines has
19 Jun 2014 09:42
Velocys Shares Rise As Abramovich Raises Stake, Canaccord Starts Coverage
LONDON (Alliance News) - Velocys PLC shares rose Thursday after it emerged late Wednesday that Russian billionaire Roman Abramovich had raised his stake in the business to 7.71% through his Ervington Investments vehicle and after Canaccord initiated coverage of the stock with a "Speculative Buy".
Read more19 Jun 2014 09:09
UK BROKER RATINGS: Canaccord Raises Charles Stanley To Buy
LONDON (Alliance News) - The following UK shares received analyst recommendations Thursday morning:
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FTSE 100
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TRADERS: MERRILL LYNCH CUTS VODAFONE TO 'NEUTRAL' ('BUY')
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TRADERS: BARCLAYS RAISES WEIR GROUP PRICE TARG
19 Jun 2014 08:56
Thursday broker round-up UPDATE
BAE Systems: Westhouse Securities initiates with a target price of 360p and a sell recommendation. Berkeley Group: Deutsche Bank increases target price from 2587p to 2877p retaining a hold recommendation. Jefferies raises target price from 2477p to 2543p and keeps a hold recommendation. BG Group:
Read more19 Jun 2014 07:26
UK MORNING BRIEFING: Rolls-Royce Leads Strong Opening Gains
LONDON (Alliance News) - UK shares have opened strongly higher Thursday, and the pound has broken above USD1.70, following a well-received US Federal Reserve meeting.
Rolls-Royce Holdings leads FTSE 100 gains after saying it will return cash to shareholders through
16 Apr 2014 14:28
Velocys boosted by British Airways landfill-to-fuel update
News that a British Airways biomass-to-jet fuel project has entered the site engineering phase has given a boost to AIM-listed Velocys, which is to provide its gas-to-liquids technology to the scheme's organiser Solena. A statement from British Airways on Wednesday said: "With the initial enginee
Read more16 Apr 2014 10:15
Velocys Says Site Chosen For GreenSky London Project
LONDON (Alliance News) - Velocys PLC said Wednesday that Thames Enterprise Park had been chosen as the site for British Airways' GreenSky London project, which it will be providing technology for. The project is to produce a sustainable jet fuel facility, and is being developed by Solena Fu
Read more27 Mar 2014 14:18
Velocys Says Transition To Commercialisation Has Widened Losses
LONDON (Alliance News) - Synthetic fuels producer Velocys PLC Thursday said its losses widened in the full-year, as it retreated from development and transitioned to commercialisation. The technology innovator for smaller scale gas-to-liquids posted a pretax loss of GBP18.0 million for 2013
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