Member Info for expatbrat

IM. Read my post again before you suggest I’m being nasty or untruthful.
I said the FT system IS proven, but as you know (or maybe don’t) the FT system is one part of the entire waste to fuel process. The entire process has not been proven by Velocys.
ENVIA proved the FT system only (before the unplanned shutdown), albeit on mainly natural gas and a bit of landfill gas - NOT syngas produced from gasified waste.

Unfortunately, the Velocys waste to fuel process is unproven. Velocys FT reactor is proven, but everything else associated with their proposed process, is not.
This has been, and will continue to be, an issue to attracting additional investment.

Correct. VLS has not explicitly said it, but it’s pretty clear that without this ‘policy need’ they keep referring to being in place, there is no project. This will obviously hinder their ability to attract a replacement for Shell. What is not clear to me is if this policy need is for all developers (ie, Lanzajet), or it’s just VLS.

I disagree with you sense. The Uk has limited refinery capacity and following Brexit, there is now more focus on domestic fuel production.
In addition, the Government has recently handed Essar/HyNet, £75m in green funding for their hydrogen project.

In my opinion, the refinery will repurpose itself into a low carbon hub, consisting of SAF, biodiesel and low carbon hydrogen. There alway be some kind of fuel production at Stanlow - it might just be a different product with a different name on the front door.
Ironically, this could be a win for the waste to fuel plant being planned there as this transition may happen quicker than planned.

EQT. Clear pathway to commercialisation, proven technology (full process, not just one part) good management.

Waste to energy, but started my career in oil and gas.

All oil refineries are in bad shape at the moment. Essar wouldn’t be immune. However, given the UK only has a handful of these left, I doubt it would be left to go under. In other parts of the world, refineries have been physically shut down because of the pandemic. Some of these are now beginning to reopen and I suspect a recovery will happen ar Stanlow once we are through the pandemic.

Disagree. They have yet to receive the balance of the first grant funding. This will be due to not achieving certain milestones. This will work against them in this application. It’s also very obvious from that YouTube video that the other two companies are miles ahead in terms of both backing and technology readiness. VLS don’t even have a demo plant, and Shell left and invested in Lanzajet.
Go figure.

No funding? What about the £20m raised from the placing? Where has that gone?

Good link. It’s very apparent from that video how far ahead both Lanzajet and Fulcrum are in comparison to VLS.

Looks like Lanzajet is a more compelling opportunity for Shell than was VLS?!

https://www.globenewswire.com/news-release/2021/04/06/2204826/0/en/Shell-Invests-in-LanzaJet-to-Further-Accelerate-the-Global-Commercialization-of-LanzaJet-s-Leading-Alcohol-to-Jet-Technology-to-Address-the-Aviation-Sector-s-Urgent-Need-to-Decarbo.html

...speculative positions at that. There’s little else to go by.

In October 2019 Rika Biogas Technologies Ltd were awarded a Stage Two grant of £5M, and in December 2019, KEW Projects were awarded a Stage Two grant of £1.5m. Neither VlS or Lanzajet have received stage 2 of their award, so how could one be expected to claim support through a follow-on competition when the first is yet to be settled?

As for the JZC, this is nothing more than a showboat - they have only met twice in over a year.

It’s clear now that FEED has been delayed for reasons unrelated to funds. What those reasons are, are indeed, subject to speculation, but given the FEED was supposed to covered by the raise and has not been, this itself should be subjected to an official enquiry.

I’d be surprised if VLS is entitled to any of this new funding. They’ve yet to qualify for the balance of the F4C award, never mind qualify for this latest one.
I’m all for green funding going to worthy recipients, but VLS seem to be adjusting their plans to position themselves for such funding. If it does transpire that FEED has been delayed, just to qualify for new funding then their day of reckoning is imminent.

Lanzatech investment by BA. Now BA invests in Hydrogen plane maker. Invests small change in VLS.

https://www.flightglobal.com/engines/ba-backs-zeroavia-as-it-eyes-hydrogen-power-for-future-short-haul-fleet/143117.article

FEED: Funding Expensive Executives Demands.

Loose, excellent post. I think this is a veiled threat to UKGov. VLS has said many times that Policy is needed for their project and my take of this is them saying “if you want your flagship project to succeed, give me more policy support (financial assistance)”. We know how long it takes Gov to implement new policy so I doubt they’ll see anything this summer, other than perhaps a mandate being announced.

However, as you pointed out, the recent raise was meant to be earmarked for FEED. The recent calls for Policy would have been known back when the Placing happened, so why not follow through with the commitment to spend investor money where it was meant to be spent?

The UK SAF market has changed since VLS first announced the AltAlto project. Back then, they had it to themselves, together with the Ministers eyes and ears. Now there’s a slew of developers, some who are streets ahead in terms of experience.
VLS are probably still just holding onto their ‘flagship’ status because of the BA link, but I suspect BA will pivot to another project (probably Lanzatech) and pump money elsewhere, whilst relegating AltAlto to No2 on their list.

Poor RNS. Nothing new apart from what is effectively a delay with BA exercising their option.

“The Company expects the project will be in a position to launch its front-end engineering design (FEED) later in 2021 subject to confirmed UK Government policy support and the addition of new investment partners in the project.”

As I’ve said before, this project appears to hinge on policy which is not currently in place. That’s a huge risk and one that is entirely out of their control.

In addition, as pointed out by Sense, the funds for the FEED are already in (from previous placing) so why not just get on with it? Obviously they are keeping back a significant amount of the placing proceeds to pay their wages and prefer to wait for the illusive investor to save the day for AltAlto instead.
Yawn.

Mr. Henrik Sven Gunnar Wareborn CEO & Exec. Director GBP302.01k

not bad for a company with zero profit and a distinct lack of an ability to attract strategic investors (which he was brought in to do!)