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Perhaps this smoke and mirrors global bank has requested Vls not to reveal its identity until some progress is made on the match funding? A positive outcome on such funding would be a nice platform for said bank to come out of the closet.
There has been several other banks, oil companies and engineering firms that have thrown in the towel with VLS and walked off the job. Perhaps this new bank is a bit cautious and wants to see real results first.

Nobody will materially back VLS to the levels required to use all the grant. I strongly suspect BA might come in with a few quid, but it’s probably going to be minimal and just to save face
At the end of the day, supportive policy or not, Vls simply does not have the experience and expertise as a company to develop and finance a large scale plant. They need to focus on technology and scale back their ambitions. The Red Rock project was the closet they’ve come to date for commercial deployment, but they project has met it’s demise and VLS tech is no longer needed.

The UK private money will flow to those SAF developers that have the skills, experience and high quality leadership to make these projects a reality. Unfortunately, VLS isn’t one of those.

Look at all those deputies around the table. Clearly the real appointees have better things to do…

Jz. It’s often stated on here that VLS appear to be in the Gov’s bedroom. The fact that they didn’t even mention them in this report, but used Fulchrum as a case study sends a strong message that they could be picking winners.

Regarding the grant, perhaps Fulcrhum didn’t seek as big a grant as VLS did? Maybe they don’t need match funding as a condition of their smaller grant? We’ll never know, but grant award size isn’t everything, as my wife always tells me.

Gov response. No mention of VLS.
Fulcrum appears to be the new darling of UKGov:

https://www.gov.uk/government/publications/developing-a-uk-sustainable-aviation-fuel-industry

VLS need to announce private investment. Nothing else matters more at this time.

*firmly in the Lanzajet camp…

In my view, I think the match funding will come in, but not now. As VLS has stated previously, there are still several policy issues that need to be resolved before a VLS project becomes viable. Without these policies in place, it’d be difficult to secure private investment. Private equity is THE most difficult funding to secure in my experience - far more difficult than a government grant. Layered onto VLS policy challenges is their lack of experience in project development. They are technology developers, not project developers. Other SAF producers such as Lanzajet have actual facilities in the ground already which will help derisk UK projects to a certain degree. VLS has nothing to refer to as their Immingham project is their first.
The grant runs to 2025, so the initial grant award may need to be matched using company funds (placing anyone?!), but when policy comes in, the illusive investors may get interested. BA may stump up a bit now however, but they seem to be fire not in the Lanzajet camp at the moment.

*recovery

best wishes for a speedy Draft.

Where’s the illusive match funding ???

Time is running out. That GLOBAL bank better start being global and get the investors in.

VLS will always struggle to attract top talent. Any professional/executive worth their salt wouldn’t risk joining a firm that runs out of money once a year and relies on grants and placings to keep the wolf from the door.
Such people will always gravitate toward established companies or developers that have big backers.

Where are the strategic investors and customers to enable those bold claims?
VLS is getting left behind by Sasol, Jonson Matthey , both companies with balance sheets to back up their customer commitments.

Unfortunately you can’t polish a turd but you can roll it in glitter.

I can’t believe Henrick has been in post for 5 years this year. Look at all the achievements in that time.

Oh, there aren’t any.
Where are the project investors again?

First tranche of match funding is needed to be in place by April.

4 weeks to go before the grant award dissolves. Tick tock…..

abc, perhaps the real question is why Worley, their previous engineering contractor, walked off the job..

Most establishments wouldn’t touch this with a barge pole. My bet is bnp paribas or credit agricole.

Match funding requirement is from the private sector.
If they raised money via placement, one could question why they needed the grant in the first place.

Investmaster, no but I am slightly dyslexic. But thanks for asking and brining this down to schoolboy digs level.