Member Info for thurgarton

XPB: One hesitates to ask why you single out VLS as the only one of the eight named that is, in your eyes, doomed to failure? Alternatively, do you think others will succumb to your projected funding crisis?

XPB: Twisting the argument to support your negative bent as usual. This is a UK based issue. Of the companies shortlisted, only Velocys and Lanzatech are providing members of Jet Zero, and from the information available, it would seem that the Altalto project is the most advanced, with FEED currently in progress. In truth, nobody is producing SAF anywhere on a scale that will meet predicted demands and everyone agrees that there is plenty of scope for anyone who can produce the goods. This is a project in its infancy which will come to fruition - don't be so fast to throw the baby out with the bathwater.

XPB: From the link given, the VLS position appears to be a lot further "down the road" than most of the opposition, having, as it does, a viable site, planning approval, local government support, and strong links with HMG via Jet Zero. Therefore, whilst I will accept that "ellusive" investor might be appropriate, I feel that your "illusive" investor is somewhat derogatory.

Those of us that have contributed to this board for any length of time are all too familiar with recurring events/non-events and the repercussions of same. Lack of PR and information from Velocys is an all too common complaint which seems to fall on deaf ears. Another common comment regards the machinations of market managers when rumours, baseless or not, are doing the rounds. In this context SP manipulation is an all to common criticism and certainly today's late fall is a glaring example, an after hours UT of 61 shares brings the closing SP down from 4.29 to 4.15 despite an even later buy of 11k @ 4.29. Add in the large volumes of automatic sales earlier in the day and it all starts to look a bit fishy. Question is, is it the usual fiddling before yet another dilution of stock or is something altogether more positive in the wind and MMs are trying to fill a large order? Any thoughts?

XPD: Some things are inevitable! What took you so long?

XPB: And your point is?

XPB: On a positive note, at least it appears to show that PR at Velocys has, at long last, moved from the long held "no news is good news" position to one of "publish any positive news". I note that your long held position remains unchanged.

Thanks for that. Interesting that VLS still have board member with strong links to Shell. Given Shell's very recent court set-back, I'm not sure that no Shell is a bad thing.

XPB: Very interesting. I wonder where Shell got their Fischer-Trope technology, and whether it infringes the Velocys patents.

XPB: ISTR that both Shell and BA contributed to the cost of the ongoing FEED survey at Altato, the succesful conclusion of which should engender further investment. IMHO no external investor would consider putting money into the project without it. A degree of government backing is also required, talking of which there has been no mention of the outstanding F4C money being paid despite the claom by the CFO of Velocys that it was expected shortly. Yet another PR oversight, I wonder?

AFAIK IAG have committed to spend £400M of green aviation and their only link to SAF is via the Altalto project. It remains to be seen whether either company can raise the necessary capital which, according to XPB and others, is around £500M. IMHO at least one, and possibly both of Fulcrum and Altalto will come to fruition given the potential demand for SAF.

XPB: The answer to your question, as you well know, is IAG. BTW do you have a holding in Fulcrum

XPB: It was actually a typo - large arthritic fingers and tiny phone keyboard is not a good mix so no slight intended; all I try to do is direct comments to your posts when appropriate. Enjoying sunny Northumberland this week-end, haars permitting!

XPB: No need to be offensive. I much prefer objectivity, a skill which would appear to be missing from your skills pallette! BTW exactly what is it that you believe VLS haven't got a cat in hells chance of doing? Getting a positive recommendation from yourself?

XPD: Just to clarify, Red Rock have run out of funds and are currently sorting out some sort of bond scheme to fill the gap until they reach finacial viability. AFAIK there is currently no SAF production akin to the ALTALTO proposal operational in the UK, so that whilst you claim that others are funded, only ALTALTO actually have a site and, more importantly, the appropriate planning approval. In other words, none of the potential SAF producers have all the requirements in place as things stand, and HMG is currently sitting on the fence and offering peanuts of encouragement, such as F4C etc, despite acknowleding that SAF is the only way to restore the aviation industry. It took a positive move by HMG to kick-start the offshore wind industry, but look at it now. IMHO the situation regarding SAF will not change unless and until HMG and the US government make positive and significant cortibutions towards SAF production. Patience on the part of investors will be required but ,again IMHO, there is a certain inevitabilty about the eventual outcome.

XPB: I didn't get the impression that VLS think that obtaining funding is an issue IF they obtain government backing (on both sides of the Atlantic). Moreover, we now know that they will get further F4C money in the near future and are applying for a futher grant that seems to have been couched to meet their spec. What was made very clear was that investors have to take a long view, something you appear unable to do. AFAIK this is the first time that the VLS management have interacted directly with their shareholders, let us hope it is not the last.

Amazing!! Velocys investing in some positive PR for the first time in living memory! Seriously, I am surprised that the CEO and CFO are prepared to answer questions unless they have a strong incentive for doing so. Note that they were the two directors who added to their holdings (although not exactly massively). The obvious questions must concern fund raising for both UK and US projects and when the FEED report for Humberside is likely to be completed. Their view on the Red Rock financial situation would also be of interest plus any thoughts on yet another fund raise and the position regarding F4C. As you say, XPB must have a host of questons which I'm sure he will regale us with. I view this a a positive move by the company which is long overdue and hopefully is an indication that at long last they have woken up to the shortcomings of their PR efforts to date. Interested to see how the market views it.

XPB: Agree with the broken record comment. But then again Velocys ' PR record has never been less that atrocious. However, if HMG is serious about SAF it will have to either put up or shut up, and some lucky company is, IMHO, going to benefit hugely. It could, and I stress that word, it could be Velocys. They are, after all, well placed with regard to a suitable site, planning permission, the right connections etc, and somebody has to be first in the queue after all. I reserve judgement until the FEED results are disclosed.
PS: To those newcomers to this board, ****ging each other off with no constructive contribution is a waste of everyone's time.

XPB: But then again you might not. It's all a matter of opinion , and we all know what yours is!

XPB: Stating the obvious, I feel. Just about everyone on this board is well aware of the challenges ahead f,or the Immingham project, yet most stay invested. Reinforcing what you obviously see as bad news for the whole SAF sector, with no real justification for that assumption, serves no useful purpose IMHO.