Pin to quick picksVelocys Share News (VLS)

Share Price Information for Velocys (VLS)

London Stock Exchange
Share Price: 2.95
Bid: 2.85
Ask: 3.19
Change: 0.07 (2.37%)
Spread: 0.34 (11.93%)
Open: 2.90
High: 2.95
Low: 2.70
Yest. Close: 2.95
VLS Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

RNS Alerts are a premium feature

Login to your account

myTerminal is a premium feature

Login to your account

Don't have an account? Click here to register.

Velocys narrows loss after cutting back costs

Wed, 15th May 2019 11:31

(Sharecast News) - Velocys on Wednesday cuts its annual losses by slashing its administrative expenses, in part as staff numbers were reduced following the disposal of its UK R&D facility in June 2017. The advanced biofuels company's loss before tax came in at �30.9m for 2018, down from �55.3m the year before, as administrative expenses were cut by 45% to �29.1m thanks to the aforementioned drop in staff numbers and the completion of work on the project development of Velocys' Mississippi bio-refinery project in the third quarter of 2018. Velocys said it expects its two primary biorefinery projects, which are under development in Immingham, UK, and Natchez, US, will each process over 300,000 tonnes of dry solid waste feedstock per year once completed, converting them into 60m to 80m litres of renewable fuels per year with a carbon intensity between zero and 30% of that of comparable fossil fuels. Meanwhile, revenue came in at �0.7m, down 13% on the year before, with the revenue primarily the result of the lease of a catalyst related to the ENVIA project in Oklahoma. Cash and cash equivalents stood at �7.0m at the end of the year, up from �2.1m at the end of 2017 The AIM traded company said its next phase will be to conclude all pre-front end engineering design (FEED) for its two projects and reach final agreements with strategic partners on the funding of the two-phase FEED to allow both projects to reach financial close during 2020. The company has secured �4.5m in partner funding for the project in Immingham, which has also been awarded �0.4m from the UK Department for Transport. Velocys' shares were down 3.59% at 3.76p to 1248 BST.

More News

Amati AIM, Directional Opportunities Pick Up Holdings In Velocys

(Alliance News) - Velocys PLC said Monday that Amati AIM VCT PLC has picked up a 10% interest in the renewable fuels firm in a transaction on Friday.In a separate transaction, the company a

5 Aug 19 17:24

DIRECTOR DEALINGS: Velocys Company Directors Took Part In Placing

(Alliance News) - Renewable fuels firm Velocys PLC said on Friday that six company directors were involved in share purchases at 3.00 pence each as part of a placing programme in July.Chief

2 Aug 19 17:30

Velocys narrows loss after cutting back costs

(Sharecast News) - Velocys on Wednesday cuts its annual losses by slashing its administrative expenses, in part as staff numbers were reduced following the disposal of its UK R&D facility in June 2017.

15 May 19 11:31

Velocys To Get USD4.2 Million From Transfer Of Oklahoma Plant Rights

LONDON (Alliance News) - Velocys PLC on Monday said it will net USD4.2 million from the transfer of rights for the ENVIA Energy LLC's gas-to-liquids plant in Oklahoma City, US, to another in a

29 Apr 19 10:57

Velocys Amends Licencing Contract With Red Rock Biofuels

LONDON (Alliance News) - Velocys PLC said Tuesday it has amended its licencing contracts with Red Rock Biofuels LLC.The amendments were made at the request of Red Rock Biofuels and allows a

12 Feb 19 14:20

Velocys amends reactor deal with Red Rock Biofuels

(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.

12 Feb 19 10:01

Hurricane Energy Appoints Velocys Non-Executive Director Shaw To Board

LONDON (Alliance News) - Hurricane Energy PLC on Thursday said Sandy Shaw has been appointed as non-executive director of the oil & gas company with immediate effect.Shaw has over 35 of

3 Jan 19 14:26

Velocys secures site for UK waste-to-jet fuel project

(Sharecast News) - Renewable fuels company Velocys announced on Wednesday that it has secured a site for the UK waste-to-jet-fuel project, which it was developing in collaboration with British Airways and Shell.

19 Dec 18 08:35

Velocys Says Bayou Progress And Media Analysis Led To Share Price Rise

LONDON (Alliance News) - Velocys PLC on Monday attributed a recent share price climb to the progress of its Bayou Fuels biorefinery project in Mississippi and to media analysis showing the demand

15 Oct 18 10:18

Velocys Interim Loss Deepens Amid One-Off Costs As Plan Progresses

LONDON (Alliance News) - Renewable fuels firm Velocys PLC said Wednesday its interim loss deepened amid one-off impairments as the firm continued to make "excellent" progress in on its a

26 Sep 18 10:39

Velocys tumbles as Oklahoma plant operations suspended

(Sharecast News) - Renewable fuels company Velocys saw its share price dive on Monday after confirming that operations have been suspended at its plant in Oklahoma City, USA.

10 Sep 18 16:21

Monday broker round-up

(Sharecast News) - Glencore: JP Morgan downgrades to neutral with a target price of 370p.

10 Sep 18 11:48

Velocys Shares Sink As ENVIA Suspends Operations At Oklahoma City

LONDON (Alliance News) - Shares in Velocys PLC dropped on Monday as the company said ENVIA suspended operations at the Oklahoma City gas-to-liquids plant to undertake a review of strategic in the

10 Sep 18 10:45

Velocys Says Discussions For Oklahoma City Plant Are Ongoing

LONDON (Alliance News) - Velocys PLC said Thursday that discussions with ENVIA Energy LLC are ongoing regarding funding options for the Oklahoma City plant.Shares in the company were down a

6 Sep 18 12:44

Velocys gets environmental tick for planned Natchez refinery

(Sharecast News) - Renewable fuels company Velocys announced on Tuesday that the US Department of Agriculture (USDA) has issued a 'Finding of No Significant Impact' (FONSI) on the environmental assessment report for its planned Bayou Fuels biorefinery in Natchez, Mississippi.

7 Aug 18 12:08

Login to your account

Don't have an account? Click here to register.