George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
Https://www.waste360.com/fuel/velocys-launch-two-plants-make-sustainable-aviation-fuel
The Matched funding does NOT need to be in place by April!
I agree the UK Government talk an awful lot but do very little...on the other hand...The US and Japan...well that is a very different story. ....
Just a question...just asking...are you illiterate? Asking for a friend....
Britain will struggle to create an industry producing sustainable aviation fuel unless the government provides regular subsidies to manufacturers, leading airlines and airports have warned.
The government has set a 2050 “Jet Zero” target for the airline industry to eliminate net carbon emissions, mainly through the use of green fuel produced by household waste such as cooking oil, known as “SAF”.
The government has promised £165mn as seed capital to encourage manufacturers to open at least five plants producing the new fuel and hopes they will be under construction by 2025. It has also set a target under which 10 per cent of aviation fuel must be SAF by 2030.
But leading airports and airlines, including Heathrow, Gatwick, Manchester Airports Group, Virgin Atlantic and British Airways have written to Mark Harper, the new transport secretary, calling for more state intervention to get the fledgling industry off the ground.
The letter, seen by the Financial Times, is also signed by some of the manufacturers with plans for SAF plants in the UK, including Fulcrum, Velocys and Alfanar.
“We believe UK SAF production has the chance to become a domestic success story, but the government needs to act now to ensure manufacturers get the price certainty needed to unlock private investment into this sector,” the groups wrote.
They want the government to create “contracts for difference” (CFDs) to agree a set price for SAF, similar to those the state has used to underwrite nuclear and offshore wind projects.
Under CFDs, when wholesale prices exceed a fixed level producers pay back the difference to the government. When the market rate is below the fixed price, the government tops up the difference.
The letter warns that without this kind of regular subsidy, investors will go elsewhere and airlines will end up importing sustainable fuel from the EU or US.
“To stimulate billions of pounds of investment in UK industry requires targeted action and further direction must be taken to share the current investor risk profile that is a barrier to capital investment in UK production,” the letter says. “The only question is do we make our own SAF, creating jobs and growth for the UK, or do we import it from other countries?”
Flying is one of the hardest industries to decarbonise and technologies such as electricity- or hydrogen-powered aircraft are years away from being able to make long-distance flights.
Aviation accounts for about 2 per cent of global CO2 emissions and the International Air Transport Association’s (Iata) net
zero 2050 target relies heavily on changing fuel mixes to achieve most of its planned reduction in greenhouse gas emissions. Other countries, including Indonesia, have sought to produce aviation fuel from crops such as palm oil or soyabean oil, prompting concern from environmentalists.
A spokesperson for the Department for Transport said the UK government already had a SAF programme which was one of the most comprehensive in the worl
Aviation calls on UK government to subsidise ‘Jet Zero’ push
Sector seeks more support to get fledgling green fuel industry off the ground
Rishi Sunak attempted an extraordinary volte-face on green policy on the eve of the Cop27 climate summit on Saturday, saying he would attend in order to “galvanise” world leaders to save the planet.
The prime minister – who had been criticised for saying he was too busy with domestic commitments to attend – also adopted precisely the same language on renewable energy that Labour leader Keir Starmer has been using for months, declaring that he now wanted to turn the UK into a “clean energy superpower”.
“We need to move further and faster to transition to renewable energy, and I will ensure the UK is at the forefront of this global movement as a clean energy superpower.”
I think it may be time for news..Cop is about to start and I'm sure Velocys wants their name in the frame....
Nice mention...
UK Government Jet Zero Strategy
Data: 19/07/2022
Velocys is pleased to see the UK Government setting out its Jet Zero Strategy, which outlines an ambition for a minimum of five commercial-scale SAF plants to be under construction in the UK by 2025. Also included is a mandate for at least 10% SAF to be blended into conventional aviation fuel by 2030, reducing greenhouse gas emissions. As noted in the strategy, the Government has pledged to further work with industry to create the long-term conditions for investable projects in the UK. In order to develop a UK SAF industry and to meet the Government's targets, Velocys believes additional investment support is vital to rapidly develop the UK SAF industry.
As a member of the Jet Zero Council, Velocys looks forward to working closely with the UK Government on its mission to deliver net zero aviation by 2050.
For the Jet Zero Strategy click here.
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Velocys plc published this content on 19 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 July 2022 14:55:19 UTC.
It'll be interesting tomorrow...
RNS Number : 5570I
Velocys PLC
19 April 2022
19 April 2022
Velocys plc
("Velocys" or the "Company")
Further business update
Velocys plc (AIM: VLS), the sustainable fuels technology company, is pleased to announce, f urther to the business update on 4 April 2022, that it has entered into a contract with a European renewable fuels developer to provide initial engineering services to a project, which is in the planning stages. Whilst the revenue for this initial stage of the project is de minimis (and project progression to material revenues to be determined), the agreement broadens the Company's customer base and demonstrates the ability to progress its pipeline of potential global customers towards commercial contracts. This is also in line with the aims of the Company's business development function, headed by Andy Bensley.
The Company has also agreed with British Airways ("BA") to extend both the UK Altalto project Joint Development Agreement and the Option Agr eement for BA to acquire 50% of Altalto Ltd by one year to 31 March 2023. The original option was signed on 12 May 2020 and initially extended on 30 March 2021.
Velocys offers its customers a technology solution enabling commercial scale production of sustainable synthetic fuels from a variety of waste materials, such as municipal, commercial and forestry residue. Sustainable aviation fuel, SAF, is the only commercially available alternative to fossil aviation fuels.
The importance of sustainable synthetic fuels from bio-based feedstocks was also recently highlighted by President Biden, as part of the US aviation decarbonisation agenda.
The Company's customer pipeline is growing with increased demand for the Velocys technology to ramp up the commercial scale production of sustainable synthetic fuels to accelerate the global clean energy transition, and to strengthen host country fuel independence.
All the UK GOV hype about net zero seems to be hot hair...luckily we have Foresight involved..they can lobby GOV for us!
This is, I believe, extremely good news for Velocys.
One major hurdle is the terrible procrastination of the UK government. Foresight have significant influence with them and I see this association as a step change for the fortune's of Velocys. Looking forward to the updates....
Thank you...I concur exactly...
They won't selling any shares anytime soon then...Much to our derampers disgust... haha
Oh shut up ! What a load of utter Bollo***
I'm sure that we must be due some news .
" Save your wrath for erroneous comments masquerading as facts."
Jim you've obviously not been around on this board as long as I have... Your final comment sums up XPB perfectly!