Household waste to power jets

Added: 20.7.2020 10:50:05 Views count: 107

Household waste to power jets Changing the way fuels are made...

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25 June 2020 Results of Placing and Reta...

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."

Velocys plc (VLS.L), the sustainable fue...

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.

Velocys attended the inaugural meeting o...

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.”

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