Velocys PLC Planning Committee approve waste-to-jet-fuel plant (5016N)
20 Mayo 2020 - 5:59AM
UK Regulatory
TIDMVLS
RNS Number : 5016N
Velocys PLC
20 May 2020
News Release
Velocys plc
("the Company")
20(th) May 2020
NELC Planning Committee approves waste-to-jet-fuel plant
Velocys plc (VLS.L), the sustainable fuels technology company,
is pleased to announce that resolution to grant planning permission
has been given to Altalto Immingham, the UK's first commercial
waste-to-jet-fuel plant, by North East Lincolnshire Council
(NELC)'s Planning Committee. A formal decision notice will then be
issued subject to the completion of standard legal agreements with
NELC. All statutory consultees have indicated their acceptance of
the plan.
The proposed Altalto Immingham plant is to convert hundreds of
thousands of tonnes per year of non-recyclable everyday household
and commercial waste, otherwise destined for landfill or
incineration, into cleaner burning sustainable aviation fuel (SAF).
The project is a collaboration between Velocys, British Airways PLC
and Shell International Petroleum Company Limited ("Shell"). It is
expected to create 130 permanent skilled jobs and many more during
construction.
The fuel, based on technology supplied by Velocys, offers net
greenhouse gas savings of around 70% for each tonne of conventional
jet fuel it displaces. It would also improve air quality, with up
to 90% reduction in particulate matter (soot) from aircraft engine
exhausts and almost 100% reduction in sulphur oxides.
Subject to additional funding and financial close, construction
is targetted to begin in 2022, and the facility could be producing
fuel from 2025.
Henrik Wareborn, CEO at Velocys, said:
"It's fantastic news that the Planning Committee has approved
our waste-to-jet-fuel project, which will be a first for the UK.
Sustainable aviation fuels are essential for decarbonising this
challenging sector and achieving net zero emissions by 2050. That's
why Velocys are calling on the Government to co-ordinate policy
between departments to help us fund a fleet of world leading
sustainable aviation fuel facilities in the UK."
Cllr Philip Jackson, Leader, North East Lincolnshire Council,
said:
"This development cements North East Lincolnshire's place at the
heart of the UK's green industrial revolution, an area already
renowned for its fuels production and offshore wind industry."
"For such a high profile project to choose North East
Lincolnshire just shows how competitive we are for the investment
market, and with projects like this choosing our patch just shows
how we can work with the private sector to make locating here an
easy choice."
"I look forward to seeing what this will mean in terms of real
jobs for local people, both during the construction phase and when
the project is operational in the longer term."
--Ends-
For further information, please contact:
Velocys
Henrik Wareborn, CEO
Andrew Morris, CFO
Lak Siriwardene, Head of Communications &
Sustainability +44 1865 800821
Numis Securities (Nomad and joint broker)
Stuart Skinner
Emily Morris
Alamgir Ahmed +44 20 7260 1000
Canaccord Genuity (Joint broker)
Henry Fitzgerald-O'Connor
James Asensio +44 20 7523 8000
Radnor Capital (Investor relations)
Joshua Cryer
Iain Daly +44 20 3897 1830
Field Consulting (PR)
Robert Jeffery +44 20 7096 7730
Certain information contained in this announcement would have
constituted inside information (as defined by Article 7 of
Regulation (EU) No 596/2014) prior to its release as part of this
announcement.
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
municipal solid waste and waste woody biomass.
Velocys is currently developing two reference projects: one in
Natchez, Mississippi, USA (incorporating Carbon Capture,
Utilisation 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 technology developed at the Pacific
Northwest National Laboratory. Velocys is headquartered in Oxford
in the United Kingdom.
www.velocys.com
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END
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