23 Feb 2015 16:40
23rd February 2015
Velocys plc
("Velocys" or "the Company")
Result of General Meeting
Velocys plc (VLS.L), the company at the forefront of smaller scale gas-to-liquids (GTL), announces that the resolution put to shareholders at today's General Meeting held at 11:00am at the offices of Wilmer Cutler Pickering Hale and Dorr LLP, Alder Castle, 10 Noble Street, London EC2V 7QJ, was passed on a show of hands. Proxy votes representing 78.1% of the total issued share capital were cast with 103,142,941 votes in favour (93%) of the resolution, 1,541,869 (1.4%) witheld and 6,198,899 against (5.6%).
- Ends -
For further information, please contact:
Velocys Roy Lipski, CEO Susan Robertson, CFO
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+1 713 275 5840 +44 1235 841 700
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Numis Securities (Nomad and Broker) Alex Ham - Corporate Broking Stuart Skinner / Jamie Lillywhite - Nominated Adviser
| +44 20 7260 1000 |
Camarco (financial communications & PR) Billy Clegg / Georgia Mann | +44 20 3757 4983 |
Notes to editors
Velocys is the company at the forefront of smaller scale gas-to-liquids (GTL) that turns natural gas into premium liquid products such as diesel and jet fuel. Smaller scale GTL adds value to shale gas and makes stranded or flared gas economic - an untapped market of up to 25 million barrels per day.
Velocys technology, protected by over 900 patents, is specifically designed for smaller scales, combining super-active catalysts with intensified reactor systems. The Company's standardised modular plants are easier to ship and faster to install, at lower risk, even in the most remote or challenging locations. Together with world-class partners, Velocys works flexibly to unlock gas resources of 15,000 to 150,000 mmbtu per day, allowing more companies to take advantage of more opportunities.
Velocys plc is listed on the AIM market of the London Stock Exchange (LSE: VLS). The Company is well capitalised with some $100 million of cash, and has a multi-disciplinary staff of over 100 operating from its commercial centre in Houston, Texas, USA and technical facilities near Oxford, UK and Columbus, Ohio, USA. Its first commercial plant, funded by Waste Management (NYSE: WM), NRG Energy (NYSE: NRG) and Ventech Engineers, is on track to enter full production by Q2 2016.
www.velocys.com
Think Smaller™. Velocys is changing the way fuels are made.