Velocys PLC - Oxford, England-based fuels technology company - Company's fischer tropsch technology, which turns gas into fuels, selected by Toyo Engineering Co for an e-fuels project. Toyo is a Narashino, Japan based engineering firm. "Velocys' role in this e-fuels project demonstrates the diversity of feedstocks that can be used in conjunction with the FT technology," Velocys says. The Toyo deal also includes a consortium of other "leading Japanese companies", Toshiba Corp among them. Company adds: "Velocys' participation in the project remains subject to contract with Toyo, a further announcement will be made in due course."
Current stock price: 5.08 pence, up 8.1% on Wednesday
Year-to-date change: down 50%
By Eric Cunha; ericcunha@alliancenews.com
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