Velocys delivers reactors and catalyst to Toyo in Japan
Velocys plc
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15:09 16/01/24
Velocys has constructed and now delivered Fischer-Tropsch (FT) reactors and catalyst to Toyo Engineering Corporation for use in a biomass-to-jet fuel demonstration facility in Nagoya, Japan, it announced on Wednesday.
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The AIM-traded firm explained that Toyo was currently constructing the bio-jet fuel facility as part of a consortium of Japanese companies, with the order for Velocys previously announced on 19 September.
It said the delivery was in addition to the successful ongoing work that the company was performing both in the UK and the US on its flagship projects.
The board said it was “pleased” with the progress of execution against the firm’s business plan.
“I am pleased that we have fulfilled the purchase order for Toyo, and look forward to the completion and operation of the demonstration plant,” said chief executive officer Henrik Wareborn.
“This facility highlights the increasing and global commitment to sustainable aviation fuel production.”
At 1310 GMT, shares in Velocys were up 0.98% at 1.23p.