31 Aug 2021 07:00
News Release
Velocys plc
("the Company")
31 August 2021
Velocys collaboration with Toyo advances to commercial stage
Velocys plc (VLS.L), the sustainable fuels technology company, is pleased to announce that its collaboration partner, Toyo Engineering Corporation (TOYO) is starting the advanced engineering and design phase of a commercial scale biofuel refinery in Japan.
TOYO's engineering study will start to establish commercial-scale production of Sustainable Aviation Fuel (SAF) in Japan. During this phase of the project, TOYO will integrate biomass gasification, Velocys' Fischer Tropsch (FT) technology and other process technologies to efficiently convert woody biomass into SAF. This project is part of the "Biojet Fuel (or SAF) Production Technology Development Project" of the Japanese Government's New Energy and Industrial Technology Development Organization (NEDO).
This announcement follows on from the news that the demonstration project successfully produced SAF from woody biomass feedstock using the Company's proprietary FT technology and enabled the first commercial flight with wood-based fuel (https://www.velocys.com/2021/08/25/e-fuels-project/).
Henrik Wareborn, CEO of Velocys, said:
"This step towards a commercial-scale biorefinery in Japan shows the increasing momentum of the Sustainable Aviation Fuel market. This announcement of a woody biomass project and last week's announcement of the e-fuels project also with TOYO, build upon our successful demonstration last year."
"Velocys is well positioned to deliver its proprietary FT technology to biorefinery projects that convert a range of renewable feedstocks into the low carbon, sustainable fuel that airlines need to meet their carbon reduction goals, without having to make any adjustment to engines or fuelling systems."
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For further information, please contact:
Velocys Henrik Wareborn, CEO Andrew Morris, CFO Lak Siriwardene, Director of Communications & Sustainability
| +44 1865 800821 |
Panmure Gordon (UK) Limited (Nomad and Joint Broker) Hugh Rich (Corporate Broking) Emma Earl (Corporate Finance)John Prior (Corporate Finance)
| +44 20 7886 2500 |
Shore Capital Stockbrokers Limited (Joint Broker) Henry Willcocks (Corporate Broking) Toby Gibbs (Corporate Advisory) Sarah Mather (Corporate Advisory) | +44 20 7408 4090 |
Radnor Capital (Investor Relations) Joshua Cryer Iain Daly | +44 20 3897 1830
|
Field Consulting (General PR) Rob Jeffery | +44 20 3697 7953 |
Notes to Editors
Velocys is an international UK-based sustainable fuels technology company. Velocys designed, developed and now licenses proprietary Fischer-Tropsch technology for the generation of clean, low carbon, synthetic drop-in aviation and road transport fuel from abundant sustainable feedstocks such as residual woody biomass and municipal solid waste. The Velocys technology can also enable the production of zero carbon fuels for the airline industry from renewable power and CO2.
Velocys is at present developing two reference projects: one in Natchez, Mississippi, USA (incorporating Carbon Capture and Storage) and one in Immingham, UK, to produce fuels that significantly reduce both greenhouse gas emissions and key exhaust pollutants for aviation and road transport. Originally a spin-out from Oxford University, in 2008 the Company acquired a US company based on complementary reactor technology developed at the Pacific Northwest National Laboratory. Velocys is headquartered in Oxford in the United Kingdom.
www.velocys.com
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