30 Jun 2017 07:00
News release
Velocys plc
("Velocys" or "the Company")
30 June 2017
First finished products at ENVIA Energy's GTL plant
Velocys plc (VLS.L), the company at the forefront of smaller scale gas-to-liquids (GTL), is pleased to report the successful production of first finished, saleable products at ENVIA Energy's GTL plant in Oklahoma City. Fischer-Tropsch products are now being fractionated to produce premium, renewable waxes, diesel and naphtha, meeting customer product specifications.
The on-site operations team has completed the debugging of several units of the plant - activities that are routine during the start up of a plant of this complexity - and is continuing the implementation of the pre-planned programme of ramping up production to target operational capacity over the coming months.
Photographs taken around the plant are available at www.velocys.com/media_image_library.php
David Pummell, CEO of Velocys, said:
"We're pleased that another milestone has been successfully achieved at the ENVIA Oklahoma plant. The exceptional quality of these products further verifies the performance of our technology and underlines its ability to deliver a slate of high value premium products at smaller scales."
- Ends -
For further information, please contact:
Velocys David Pummell, CEO Susan Robertson, CFO
| +44 1235 841 700
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Numis Securities (Nomad and joint broker) Alex Ham Stuart Skinner Jamie Lillywhite Tom Ballard
| +44 20 7260 1000 |
Canaccord Genuity (Joint broker) Henry Fitzgerald-O'Connor Ben Griffiths | +44 20 7523 8000
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Camarco (Financial communications & PR) Billy Clegg Georgia Edmonds | +44 20 3757 4983
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Certain information contained in this announcement would have constituted inside information (as defined by Article 7 of Regulation (EU) No 596/2014) prior to its release as part of this announcement.
Notes to editors
About Velocys
Velocys is the company at the forefront of smaller scale gas-to-liquids (GTL), providing the bridge connecting stranded and low value feedstocks such as natural gas, landfill gas or biomass with markets for premium products such as renewable diesel, jet fuel and waxes.
With its partners, Velocys aims to deliver the most economically compelling conversion solution; a fully integrated offer that can be deployed at scale into the growing, attractive markets on which it focuses. Velocys technology, protected by several hundred patents in over 30 countries, is specifically designed for smaller scales, combining super-active catalysts with intensified reactor systems. Standardised modular plants can be deployed readily in a wide range of locations, and Velocys' capabilities and extensive experience deliver a proven route to operation.
Velocys plc is admitted to trading on the AIM market of the London Stock Exchange (LSE: VLS). The Company has a strong, multi-disciplinary staff operating from its commercial centre in Houston, Texas, USA and technical facilities near Oxford, UK and Columbus, Ohio, USA. First product has been produced at its commercial reference plant, which is located adjacent to Waste Management's East Oak landfill site in Oklahoma City.
www.velocys.com