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Some Sasol support people are now VLS employees. Is that the reason why you think that VLS were involved?
Slick: for correctness sake: Velocys were not involved with the Chevron GTL plant in Nigeria.
Surely, it will surge upon good news.
Which one? A strategic investor in the Bayou Fuels plant? An acquisition at 10p?
Anyone else?
“All promise outruns performance “
Let’s hope performance will catch up...
Going back, the final results were published at the end of April in '15 and '16, and on May 15 in 2017 and on May 23 in 2018. So expect them at the end of May.
The Sierra Biofuels plant is under construction. Have a look at their website and look at the pictures. The last one they posted is the installation of the Carbon Trim Cell, which is part of the syngas generation unit. It was installed at the end of February.
http://fulcrum-bioenergy.com/news/resources/
I am surprised how slowly RRB moves: it took them 8 months after the groundbreaking ceremony to announce they signed on an EPC company to carry out the engineering and construction of the plant.
That is why there is not too much to see on the webcams of the Lakeview plant which are at www.redrockbio.com/lakeview-site.html
Thanks for sharing this article.
This is exactly the reason why Velocys is struggling to land investors for the Bayou Fuels project. The project economics are too sensitive for the RINs uncertainties.
Déjà vu...Solena - GreenSky all over again?
If I get this right, there will be 4 waste to x plants in that neighbourhood in the future that will be competing for waste. Maybe we should invest in landfills!
Good find...but why was that not mentioned in the RNS?
Velocys is a JV partner of ENVIA. After Velocys provided a loan to finish the construction and commissioning and JV partner NRG dropped out, Velocys ownership increased to about 33% per 1917 Annual Report.
You find the explanation in the May 17 circular titled "Issue of 18 million Convertible Loan Notes at £0.50 per loan note - Placing of up to 2,577,777 new Ordinary Shares at a price of £0.45 per share and Notice of General Meeting."
The 18 million convertible loan notes at a price of £0.50 per loan note were issued to Ervington and Lansdowne. The difference is related to the accrued interest over the period which is also stipulated on page 14 of the document.
If the biofuel companies can produce at a lower price than the oil based ones...which is not a given.
Here is what Velocys wanted to achieve with the ENVIA plant as voiced by Hargreaves:
http://gasprocessingnews.com/features/201508/setting-the-stage-for-the-future-of-smaller-scale-gtl.aspx
DHC: "USDA application ongoing - Red Rock got this and then off they went - QUICKLY."
Quickly? The USDA grant was awarded in September 2014...Breaking ground in July 2018.
Why run before you can walk?
Velocys has been walking for 17 years...they have no choice but to run now.
NRG is no longer a JV partner.
WM's $10M investment in ENVIA will not make a dent. In addition they invested via their corporate venture capital fund "The Organic Growth Group" whose investment they probably have written off.
Please put the blame in the right place. This was not an operator error but a design flaw. In yesterday's Q&A it was called "a poorly designed ancillary coolant system."
MM: your perception about the Americans used to be correct – about 25 years ago – definitely in the chemical/petrochemical industry. Risk taking is non-existing, de-risking is the mantra.
Just look at the time it took for Red Rock Biofuels to get from the announcement of the loan guarantee to ground breaking: from 2014 until 2018! Similar for Fulcrum that was in the same batch. The other company, Emerald Biofuels, has not reached that milestone yet…