Member Info for expatbrat

Now that VLS has gone, EQT clearly want to take the spotlight on SAF.

You can’t make it up!

I guess this is goodbye. I saw this coming 6 years ago. I hope those that took my comments seriously got out when they did. For those who thought I was being too negative, I wish you well.

Evidence of insider trading ?!

Their near term challenge is keeping the lights on and people in work (preferably not the Leadership). They will no doubt seek some bridge financing - at exorbitant cost - to get them to the point of Lightrock/CD coming in.

I’ve been predicting this moment for years, much to the annoyance of the VLS fan base, but despite all of that, there could be a glimmer of hope for the company should the £4M materialize. The buyer will get all the IP, an option on a site, and a £27m grant to dip into. My expectation is that the buyer will come in and repackage all of this, then flip it to another SAF developer.

Unfortunately for the AIM players, none of this potential future activity will be to their benefit.

@turdgarton. Are you serious? The government bailing out these incompetent clowns with tax payer money? When this all goes peer shaped in a matter of weeks and the gov is ridiculed for promising them £27m in grant funding, do you really think they’ll bail them out?

The Government (and BA and Shell) have alighted the VLS train and unfortunately like most British trains these days, it’s broken and won’t be leaving the station.

Lightrock*

Just here to

watch all this unfold, just as I’ve been banging on about for years. No development experience, no demonstration plant, poor management equals no investment - this is the outcome.

I strongly suspect Lightroom won’t follow through on this unfortunately for the same reasons.

This has been a big, risky bet that hasn’t paid off. VLS was awarded a huge grant from HMGov, a condition of which was to secure match funding. The bigger the grant, the more match funding so from the day they won the grant, they probably knew they were aiming for something unachievable in terms of fund raising.

The failure to secure the £30m ish from the market essentially means they are unable to access the £27m from the grant, so this is effectively a £50m opportunity lost. I don’t see any way of securing any more money before year end - unless the inevitable placing happens, ensuring money is brought in to continue paying Director salaries in time for Christmas shoppping…

Jokers.

RickSanchez - you called?

Obviously they’ll never officially state that. But they are using all the same equipment as Fulchrum, apart from the FT (which is VLS technology).

Basically, if an existing project using the same technology has failed, then the chances of someone else attempting to finance a similar project is pretty much zero.

Https://www.bondbuyer.com/news/nevada-garbage-to-jet-fuel-project-defaults-indiana-follow-up-on-hold

If this news is accurate, this could mean curtains for VLS.

VLS waiting on success of the Fulchrum plant in the states to be able to use it as a reference case with investors for AltAlto in the UK.

If Fulchrum go down the pipe, VLS will be not far behind them.

“What happens when airlines can't get enough saf to meet there requirements?”

They will contract with suppliers that can actually make and deliver fuel, not suppliers that think they can and constantly try to convince investors of the same.

Despite not seeking credibility in here, my position has been consistent with VLS and recent developments (or lack thereof) has validated my ramblings.

The JZC will not be privy to private developers’ status. As a previous grant awardee (many moons ago, in the waste to energy game) the grant agreement and reporting is strictly private between the authority and the grant winner. I can therefore speak with a large degree of confidence that VLS will not be able to acquire info from the JZC meetings that would be able substantiate Henricks statement.

Turdgarton,

And why would a private company tell their private project status anyone on the jet zero council ?

The jet zero council is delivery by name. Zero.

“Thanks to our progress with engineering and licensor engagements, Altalto is leading the way as the furthest developed within the group of projects supported under the Advanced Fuels Fund.”

How does Henrick know this? None of the other players are public (apart from Lanzatech) and therefore have no obligation to update the market on their progress. Yet another example of horn blowing, when in fact VLS has achieved very little in the last 5 years.

Thurg,

Why not mention VLS by name then? This was an ideal opportunity, but they went for the better option.

Yet more evidence that BA are distancing themselves from VLS. Nova Pan’ now being used as the waste-to-fuel poster child.

https://www.iairgroup.com/en/newsroom/press-releases/newsroom-listing/2023/iag-signs-agreement-with-microsoft

I believe they are advertising due to several recent staff exits, rather than new roles being created.

After further research, it’s very apparent that VLS is using all the same technology choices as Fulcrum in the US, apart from the FT technology.

Fulcrum made fuel last year from their waste to jet fuel facility in the US, but as far as I know has not made any since. Therin probably lies the problem; VLS needs Fulcrum to produce fuel in order to validate the technical viability for AltAlto. Without Fulcrum showing some degree of success, VLS is dead.

My contacts in the US who work in the industry, are saying Fulcrum is having some real issues with their facility and do not appear to be able to keep it running. This brings into question the technology choices and therefore directly affects VLS ability to remain a viable proposition.