TIDMVLS
RNS Number : 7781X
Velocys PLC
02 September 2015
News release
Velocys plc
("Velocys" or "the Company")
2(nd) September 2015
Manufacture of reactors and catalyst complete
Velocys plc (VLS.L), the company at the forefront of smaller
scale gas-to-liquids (GTL), is pleased to announce that the
manufacture of the full-scale commercial Fischer-Tropsch reactors
for ENVIA Energy's Oklahoma City GTL project is complete. All ASME
(American Society of Mechanical Engineers) certifications required
for the reactors prior to installation and commissioning of the
plant have been issued. All other QA/QC protocols have been fully
achieved.
Commercial production of the initial Fischer-Tropsch catalyst
charge for the ENVIA plant has also been completed by world class
manufacturers and certified by Velocys' quality control protocols.
The catalyst meets all performance criteria for the ENVIA project,
with excellent alignment of test results between
commercially-produced and laboratory-produced catalysts.
Fabrication of the modular process units is continuing at
Ventech in Pasadena, Texas. Mechanical completion of the plant is
expected to be in H1 2016.
ENVIA Energy is a Joint Venture between Waste Management, Inc
(NYSE:WM), NRG Energy, Inc (NYSE:NRG), Ventech Engineers
International LLC, and Velocys plc (LSE:VLS), formed in March 2014
to produce renewable fuels and chemicals from biogas and natural
gas using GTL. The ENVIA Energy Oklahoma City project will provide
a commercial reference plant for the use of Velocys'
technology.
Meanwhile, ENVIA Energy is to be awarded the highly prestigious
Vanguard award at Keep Oklahoma Beautiful's 25th Environmental
Excellence Awards Celebration on 30(th) November 2015.
Susan Robertson, CFO and acting CEO of Velocys, said:
"Velocys continues its drive towards our goals, first and
foremost being the delivery of our commercial reference plant in
Oklahoma City. The completion of the catalyst and reactors is an
important milestone, and we and our joint venture partners continue
to make solid progress on ENVIA's project.
"We were also delighted to hear that ENVIA is to receive a
well-respected state-level environmental award."
- Ends -
For further information, please contact:
Velocys
Susan Robertson, CFO and acting +44 1235 841
CEO 700
Numis Securities (Nomad and Broker)
Alex Ham - Corporate Broking
Stuart Skinner / Jamie Lillywhite +44 20 7260
- Nominated Adviser 1000
Camarco (financial communications
& PR) +44 20 3757
Billy Clegg / Georgia Mann 4983
Photos available on request
Notes to editors
About Velocys
Velocys is the company at the forefront of smaller scale
gas-to-liquids (GTL) that turns natural gas or biomass into premium
liquid products such as diesel and jet fuel. Smaller scale GTL adds
value to shale gas and bio-waste, and makes stranded or flared gas
economic - an untapped market of up to 25 million barrels per
day.
Velocys technology, protected by over 800 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 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 expected to reach mechanical completion in H1
2016.
www.velocys.com
Think Smaller(TM). Velocys is changing the way fuels are
made.
About ENVIA Energy
ENVIA Energy LLC is the joint venture between Waste Management,
NRG Energy, Ventech Engineers International and Velocys, formed in
March 2014 to produce renewable fuels and chemicals from biogas and
natural gas using GTL technology. The first plant it is developing,
ENVIA Energy Oklahoma City, is adjacent to Waste Management's East
Oak landfill.
www.enviaenergy.com
About Waste Management
Waste Management, Inc., based in Houston, Texas, is the leading
provider of comprehensive waste management services in North
America. Through its subsidiaries, the company provides collection,
transfer, recycling and resource recovery, and disposal services.
It is the largest residential recycler and also a leading
developer, operator and owner of landfill gas-to-energy facilities
in the United States. The company's customers include residential,
commercial, industrial, and municipal customers throughout North
America.
www.wm.com
About NRG Energy
NRG is leading customer-driven change in the U.S. energy
industry by delivering cleaner and smarter energy choices, while
building on the strength of the nation's largest and most diverse
competitive power portfolio. A Fortune 250 company, we create value
through reliable and efficient conventional generation while
driving innovation in solar and renewable power, electric vehicle
ecosystems, carbon capture technology and customer-centric energy
solutions. Our retail electricity providers serve almost 3 million
residential and commercial customers throughout the country.
www.nrgenergy.com
About Ventech
Ventech Engineers International LLC is a global leader in the
design and construction of modular refineries, gas processing
systems, plant relocations, and specialized fabrications for the
chemical, refining, and gas production industries. The corporate
office and fabrication complex are located in Pasadena, Texas.
Additional offices are located in Ankara, Turkey, Moscow, Russia
and Alabang, Philippines.
www.ventech-eng.com
About Keep Oklahoma Beautiful's Vanguard award
Keep Oklahoma Beautiful is a nonprofit organization based in
Oklahoma and founded in 1965. Its mission is to "empower Oklahoma
citizens to preserve and enhance the state's natural beauty and
ensure a healthy, sustainable environment". The organization's
highly prestigious Vanguard award recognizes groups embracing
cutting-edge technologies and concepts in support of a sustainable
planet.
Please see below a link to Keep Oklahoma Beautiful's full press
release:
http://www.keepoklahomabeautiful.com/celebration-announced-to-honor-statewide-environmental-excellence
This information is provided by RNS
The company news service from the London Stock Exchange
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