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No matter what happens this popping up again has :
1) reminded me that investing in AIM shares can be risky and it is possible to lose everything. I know i was small fry to many, but £10k still hurt to lose!
2) Keep the details of your old online accounts as its proving fun trying to work out where the records are of my CTAG shares; as i have since transferred my SIPP from BestInvest to AJBell.

https://www.velocys.com/2022/08/15/update-on-climate-legislation/

Legislation expected to underpin the financing of Velocys’ US sustainable aviation fuel reference project

Velocys plc (VLS.L), the sustainable fuels technology company, welcomes the passing of the “Inflation Reduction Act of 2022” by the US Congress in relation to key legislation tackling climate change. Velocys notes that the legislation is expected to be signed into law by President Biden shortly.

Subject to becoming law, this landmark piece of legislation allocates approximately $369 billion to reducing greenhouse gas emissions and incentivises expanded production and use of domestic clean energy. Sustainable Aviation Fuel (“SAF”) tax credits are an integral part of the Act, together with other incentives and mechanisms to accelerate the deployment of advanced fuel technologies, generating non-fossil fuels with a significantly reduced carbon intensity.

SAF is the only current commercially scalable decarbonisation route for the aviation sector. Multiple pathways to SAF production are needed to satisfy the aviation industry’s decarbonisation targets towards “net zero”. Velocys continues to provide its clients with integrated extensive IP-protected technology enabling the production of synthetic aviation fuel from a variety of sustainable feedstocks with ultra-low to negative carbon intensity.

The SAF tax credits and associated incentives are expected to underpin the financing of Bayou Fuels, Velocys’ advanced SAF reference project in Natchez, Mississippi, US. Bayou Fuels is a planned cellulosic biofuels plant enabling the production of carbon negative fuel through the use of biogenic feedstock, renewable power, and carbon sequestration. The biorefinery will convert 3,000 tons/day of woody biomass forestry residues into 36 million gallons/year (nameplate) of renewable transportation fuels, predominantly SAF, with a negative carbon intensity. The biofuels produced will adhere to both the US Renewable Fuel Standard (“RFS”) and the Low Carbon Fuels Standard (“LCFS”) and earn additional incentives via the associated Renewable Identification Number (“RIN”) and LCFS credits.

As announced in November 2021, Velocys has already secured long-term offtake arrangements for 100% of the SAF output expected from the Bayou Fuels facility with Southwest Airlines (a 15-year agreement) and IAG/British Airways (MOU for a 10-year agreement) avoiding 8.8 million tonnes of CO2 over the term of the off-takes. This new climate legislation is expected to allow finalisation of conversion of the MOU to a full offtake agreement.

This critical legislative development in the US follows last month’s launch by the UK Government’s Department for Transport of its Jet Zero Strategy, setting out the Government’s approach for achieving net zero aviation by 2050. This includes an ambition for a minimum of five commercial-scale SAF plants to be under construction in the UK by 2025, and a mandate for

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