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Velocys Appoints Worley As Engineering Technology Partner

Mon, 03rd Feb 2020 18:28

(Alliance News) - AIM-listed Velocys PLC on Monday said it has appointed Worley to manage the delivery of its fully integrated technology package.

The fuels technology company said the fully integrated technology package converts waste feedstocks into sustainable aviation and road transport fuels.

Worley, an engineering contractor, is Velocys's partner in the development of pre-feasibility, feasibility and front-end engineering design packages for all projects in the Velocys portfolio.

The company explained that the careful selection and combination of the technologies provides a de-risked solution, enabling the processing of different solid feedstocks, and sufficient flexibility to allow production of multiple products including synthetic paraffinic kerosene and diesel.

"Our unique combination of proven technologies allows Velocys to offer a robust process solution that will be vital to the decarbonisation of challenging sectors and the achievement of net zero targets," said Velocys Chief Executive Henrik Wareborn.

Velocys shares closed 9.0% higher in London on Monday at 2.92 pence each.

By Evelina Grecenko; evelinagrecenko@alliancenews.com