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6th January 2014

Commercial reactor sale

Velocys plc (VLS.L), the technology innovator for smaller scale gas-to-liquids (GTL), is pleased to announce that it has executed an agreement for the sale of a commercial Fischer-Tropsch (FT) reactor to a customer in the Commonwealth of Independent States (CIS).

The 175 bpd reactor, with accompanying catalyst, will be installed in a small GTL plant processing natural gas into synthetic crude, and is intended to be delivered in the second half of 2014. Along with the accompanying engineering services, the transaction is expected to generate over $2 million of revenue to the Company during 2014-15.

Roy Lipski, CEO of Velocys, said:
"We're pleased to have sold another commercial reactor and to be making further headway in this important region. Velocys' GTL technology is well suited to the needs of the CIS, allowing cost-effective monetisation of stranded gas resources and dealing with the problem of associated gas flaring, which is a priority in the region for oil producers and governments alike."

 


 

Contact

Oxford Catalysts

Roy Lipski, CEO
Susan Robertson, CFO


+1 713 275 5840
+44 1235 841700

Numis Securities (Nomad and Broker)

Alex Ham – Corporate Broking

Stuart Skinner / Jamie Lillywhite – Nominated Advisor

+44 20 7260 1000

Lionsgate Communications
Jonathan Charles / Jessica Johnson

+44 20 3697 1209

 


 

Notes

Velocys (formerly Oxford Catalysts) enables modular gas-to-liquids (GTL) plants to convert unconventional, remote and problem gas into valuable liquid fuels. Systems based on the Company's technology are significantly smaller than those using conventional technology, enabling modular plants that can be deployed cost effectively in remote locations and on smaller fields than is possible with competing systems. Together with world-class partners, Velocys provides complete modular GTL solutions that address an untapped market of up to 25 million barrels of fuel a day

Velocys plc is listed on the AIM market of the London Stock Exchange (LSE: VLS). The Company has approx. 100 employees with facilities in Houston, Texas, USA and near Oxford, UK and Columbus, Ohio, USA.

 

 

 

Velocys plc trades through its subsidiaries Velocys Technologies Ltd, 115e Olympic Avenue, Milton Park, Abingdon, OX14 4SA, UK (Registered in England No. 5258554) and Velocys, Inc., 7950 Corporate Blvd, Plain City, Ohio 43064, USA (Registered in the State of Delaware, USA). Terms & Conditions. "Velocys" and the Velocys logo are trademarks of Velocys. © 2013 Velocys. All Rights Reserved.