Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Sensetalka: according to Velocys' website: Bayou Fuels' pre-FEED is complete. So, you are correct. But let me also point out the the Bayou Fuels plant is in this state since three years - 2017 Annual Report - p12. Why??
Sensetalka: the subject was the Bayou Fuels plant not Altalto.
Spurious: this is a delayed reply on your Saturday's post.
Regarding the chairman's statement: any FT plant "has the capability" of producing any product any refinery can. So, the statement is correct but incomplete. The Bayou plant is designed for diesel but that could be changed to jet fuel. However this needs quite some redesign of the back end of the plant. Velocys have never mentioned a redesign or a new FEED for the Bayou plant. Again this points at the lack of transparency and communication.
Regarding the 50% reduction in emissions: the basis of your statement is a paper study and as long as no jet fuel is produced it remains a projected benefit. In addition, Julia Brownsley's SAF Act was introduced on November 18 and is a long way from becoming law...
Lastly, Expatbrat and I are only aligned regarding facts and since you follow this MB closely, you have seen some instances that I call him an erroneous statements.
Have a look at Velocys' website: https://www.velocys.com/projects/bayou-fuels/
They should update this...
I agree with expatbrat: Wareborn's statement is misleading. The Altalto plant is composed of a number of technologies, as is stated in Velocys' press release of February 3, 2020: https://www.velocys.com/2020/02/03/velocys-appoints-worley-as-engineering-partner/
...for Godot?
Sensetalka: an update is needed. The company should go back to publish a quarterly email, called "Velocys SpeedRead Newsletter." This was started by Oxford Catalysts Group as OCG SpeedRead back in September 2011. The last issue was published in February 2018. It was a Lipski initiative. Wareborn should pick that up. However I doubt that any of the current execs and board members have ever seen those informative SpeedReads.
Sense: For the record I do not want to deramp nor ramp up, I just want to supply factual info to my fellow board members and I am not related to expatbrat.
You just made another erroneous statement about the Velocys catalyst: this is the most active commercially available Fischer/Tropsch catalyst, which converts syngas in to product slate which contains molecules which a range of carbon atoms from 1 to 80+. The product has to converted to jet fuel by a different process and a different catalyst. In the Altalto project, this process will be provided by Haldor Topsoe.
Expatbrat: Fulcrum Bioenergy has established a UK company back in 2017. This article is their first public statement as far as I know. It is clear from the article that they are aiming at the UK market as well - they are also talking to the government and obviously found a listening ear.
No, VLS does not have the market for themselves. Read this article from Fulcrum Bioenergy:
https://www.argusmedia.com/en/news/2153608-qa-fulcrum-on-wastetofuel-plant-biojet-prospects
Here is an interesting article describing in detail all current players in the SAF area.
https://www.chemistryworld.com/features/can-sustainable-aviation-fuels-give-us-guilt-free-flying/4012416.article
Donatron: Velocys received the same USAD backed $200M loan guarantee as Red Rock Biofuels. In August 2018, they announced that the US Department of Agriculture (USDA) has issued a Finding of No Significant Impact (FONSI) on the environmental assessment report for Velocys’ planned Bayou Fuels biorefinery in Natchez, Mississippi. They also announced that they engaged the global leading project finance bank, Sumitomo Mitsui Banking Corporation (SMBC), as the lender of record and as its financial Please read our rules before postingadvisor.
Spurious: I agree that the situation has changed vis a vis "green" projects but ultimately the project has to make economic sense and of acceptable risk.
Spurious: The Chairman's statement, dated May 28, 2018, says: "A key step in this process will to bring on board one or more strategic investors into the Mississippi project consortium to meet the remaining capital requirement."
The board should explain why they have not succeeded yet 2.5 years later.
Do you believe that they will have more success in the next 9 months to do so?
Spurious: The Chairman's statement, dated May 28, 2018, says: "A key step in this process will to bring on board one or more strategic investors into the Mississippi project consortium to meet the remaining capital requirement."
The board should explain why they have not succeeded yet 2.5 years later.
Do you believe that they will have more success in the next 9 months to do so?
With one glaring omission: no mention of which technology will be used to prepare the garbage to be fed into the gasifier.
That is quite interesting. Here is what appeared on Biofuels Digest in January, 2018: "Red Rock Biofuels has eight-year offtake agreements for 100% of the jet fuel with Southwest Airlines and FedEx. Diesel and naphtha output will be sold through the either future offtake agreements with major refiners or on the spot market." Could be that Southwest backed out, because they do not any longer are present on Red Rock's revamped website. FedEx is still there.
In the light of these agreements, what will Shell do. Distribute the SAF to Fedex and Southwest? Take care of the diesel?
Plenty of questions.
In the same press release there is the following quote from Anna Mascolo, President of Global Aviation at Shell. “We are proud to work together with Red Rock to support the development of their innovative new production facility in Lakeview, Oregon.” This make me even more doubt about the due diligence of Shell. The weak spot in the Red Rock plant is the gasification. They are using unproven technology from TCG Global.
ExpatBrat: I was sitting on the sidelines watching the sparring between you and the rest of the gang to which I have little to contribute. Since VLS was able to extend their runway until mid-2022, they will continue to operate as they have in the past 5 years: trying to develop projects and licensing/selling their technology. Unfortunately, their catalyst and reactor technologies are in a state of arrested development, so they have to monetize them as quickly as they can to boost their revenue side.
Sensetalka: you seem to glance over the fact that the ENVIA plant never reached its nominal capacity and that one of the reactors was damaged during a process change. Although the latter was not directly caused by the Velocys technology it was related to the overall process that Velocys is developing.
Starting from MSW is a significantly different process and although the process technology partners are quite experienced, except the gasification, it will take a lot of project management savvy to integrate those technologies into a successful process.
IM and friends: you can call me whatever you want, but as a long time shareholder, I am amazed about the noise short timers generate based on rumors.
When someone points at facts, such as Donatron, ExpatBrat, and a few others, you and your friends lead the charge to refute those facts. It looks to me that you have been creating an alternate reality not unlike a certain well known Republican figure with a poor grasp on reality…
Someone on this board mentioned that Velocys has no competition in the UK. I strongly suggest that he checks out LanzaTech's spin-off LanzaJet which is still in the F4C competition. LanzaJet's alcohol-to-jet technology might be a more economical solution than the Velocys one. LanzaTech are also well funded, $300M so far, and have major strategic investors. The have demonstrated MSW to ethanol in Japan. Have a look at this presentation:
https://ec.europa.eu/energy/sites/ener/files/documents/25_sean_simpson-lanzatech.pdf