Household waste to power jets

EREVITA Team, 20.7.2020 19:15:45

25 June 2020 Results of Placing and Retail Offer Velocys plc (VLS.L), the sustainable fuels technology company, is pleased to announce that, following the announcement of its proposed fundraise yesterday, it has raised gross proceeds of £20 million by way of the Placing and Retail Offer. A total of 400,000,000 new ordinary shares in the capital of the Company will be issued to retail and institutional investors at a price of 5 pence per share (the "Offer Price"). A total of 376,186,000 new ordinary shares (the "Placing Shares") have been conditionally placed with investors at the Offer Price (the "Placing") by Numis Securities Ltd ("Numis"), Canaccord Genuity Limited ("Canaccord") and Turner Pope Investments (TPI) Ltd. ("TPI"). Radnor Capital Partners Ltd. ("Radnor") and Peat & Co ("Peat & Co) acted as Selling Agents in relation to the Placing. The Directors of the Company have subscribed for 1,200,000 Placing Shares. In addition, retail and other investors have subscribed in the offer made by the Company via the PrimaryBid platform for a total of 22,614,000 new ordinary shares in the capital of the Company (the "Retail Shares") at the Offer Price (the "Retail Offer"). The Placing Shares and Retail Shares, when issued, will be fully paid and will rank pari passu in all respects with the existing ordinary shares of the Company. Henrik Wareborn, CEO of Velocys, said: "We are delighted with the support shown by both new and existing investors in this fundraising - we are particularly pleased to see a number of high-quality institutional investors join our shareholder register. The offering was upsized from £10 million to £20 million to help meet the additional demand but we are pleased to say that even at this higher level the issue was still significantly oversubscribed. "We look forward to seeing our retail investors participate in the forthcoming Open Offer to the extent that they have not been able to already subscribe via the Retail Offer. "This capital raise accelerates our ability to provide commercial scale turn-key solutions to fuel producers in the energy transition away from fossil fuels into sustainable fuels towards improved air quality and net zero carbon emissions."

EREVITA Team, 20.7.2020 19:17:22

Velocys plc (VLS.L), the sustainable fuels technology company, is pleased to announce that a formal notice of the decision to grant planning permission for the Altalto Immingham plant has now been issued by North East Lincolnshire Council. This is further to the resolution of the Planning Committee which was announced on 20th May 2020.

EREVITA Team, 23.7.2020 19:44:43

Velocys attended the inaugural meeting of the Government’s newly formed Jet Zero Council, of which the company has been confirmed as a member. The Jet Zero Council will provide advice on the Government’s ambitions for clean aviation. A dynamic government and industry partnership, the Council will focus on developing UK capabilities to deliver net zero emission commercial flight through a series of measures including: Establishing UK production facilities for sustainable aviation fuels (SAF) and commercialising the industry by driving down production costs Developing a coordinated approach to the policy and regulatory framework needed to deliver net zero aviation During the session, the Council was addressed by the Prime Minister, the Secretary of State for Transport and the Secretary of State for Business, Energy and Industrial Strategy. The work of the Council will be essential to the ongoing development of Velocys’ planned waste-to-jet-fuel facility, Altalto Immingham, located in North East Lincolnshire. Henrik Wareborn, CEO of Velocys, said: “Velocys is very pleased to have been asked by the UK Government to join the Jet Zero Council. The first meeting of the Council could not have come at a more important time. As we return to the skies attention must focus on solutions that can deliver meaningful carbon savings not just by 2050, but within the decade. “Sustainable aviation fuels will play a critical role in achieving the Government’s goal of demonstrating flight across the Atlantic without harming the environment within a generation. In fact, our planned waste-to-jet-fuel facility in Lincolnshire could be fuelling transatlantic flights in just five years’ time without the need to modify aircraft or engines at all. Velocys has the technology, already demonstrated at commercial scale, which cuts lifecycle carbon emissions by 70%. By incorporating carbon capture and storage technology, emissions could be cut further, enabling the facility and others that could follow to produce carbon-negative-emissions fuel by the end of the decade.”

EREVITA Team, 16.8.2020 10:32:00

Velocys plc (VLS.L), the sustainable fuels technology company, announces that it has completed the manufacturing and delivery of four reactors to Red Rock Biofuels (RRB). RRB has a further option to purchase an additional two reactors by the end of 2020. Henrik Wareborn, Velocys CEO, said: “We are very pleased to have completed the reactor order for Red Rock’s facility in Oregon, USA, which will produce low carbon sustainable fuels from forestry waste. Our reactor supply chain has now been tested and has proven our capability to deliver our technology to our global clients. “Velocys has the technology, demonstrated at commercial scale, to enable the production of sustainable fuels. This fuel is essential for the hard to decarbonise transportation sector and will help to meet net zero emissions as required by many Governments.”

EREVITA News, 17.8.2020 19:59:33

A recent article in The Yorkshire Post by Velocys’ VP Waste to Fuels, Dr Neville Hargreaves, said that the Yorkshire and the Humber region – the location of our planned Altalto waste-to-jet-fuel facility – could play an important role in a new Sustainable Aviation Fuels (SAF) industry, cutting carbon and creating jobs in the region. With Altalto becoming the UK’s first sustainable aviation fuel facility, the Humber can establish itself as the global hub for the greener fuelling of air travel. Dr Hargreaves argues that with further support from Government and continued leadership from political leaders in the Humber, the region could capture a significant portion of the economic benefits created by the developing industry. Velocys’ piece follows an earlier Yorkshire Post article by Kwasi Kwarteng MP, Minister for Business, Energy and Clean Growth, which said the Humber region will power the green energy revolution. The Minister outlined how as an established renewable and industrial heartland, the Humber will act as the backbone for our green transition and an example to the many other industrial centres across the UK that they can go green. The Minister’s support for the Humber and its industrial skill and heritage echoes Velocys’ decision to locate our proposed facility in the region.