LONDON (Alliance News) - Gas-to-liquid technology company Velocys PLC on Thursday said it has seen improvements in its operations in the past 18 months, which have raised capacity at its plant and improved the economics of the business.
Velocys said the work done at its plant resulted in an increase in capacity in excess of 50%, without any change to the commercial catalyst formulation or reactor design.
The progress made in its operations has provided evidence high-value liquid hydrocarbon products can be maintained while achieving the higher productivity gains, Velocys said.
"These results are a reflection of the tremendous progress that our in-house technical teams have made and are continuing to make, quietly in the background, in what has been a delivery-focused year for the business," said Chief Operating Officer Paul Schubert.
Shares in Velocys were up 9.8% early Thursday at 50.78 pence, one of the best performers in the AIM All-Share.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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