Changing the way fuels are made

July 2014
It is with great pleasure that I share with you our good news. The first project being developed by the joint venture between Waste Management, NRG Energy, Velocys and Ventech has received the formal go-ahead. I compare this to the first four minute mile; a psychological threshold has been crossed, for us, for our customers and for the industry in general, and the way is now paved for more to follow.

Moreover, our recent acquisition of one of the leading project developers of smaller scale GTL in North America demonstrates that we are not simply passive technology providers. Were taking destiny into our own hands and creating a path for accelerated commercial growth.

Please get in touch if you would like more information on any of the items highlighted in this newsletter. Email

Roy Lipski, CEO

What's new?

Commercial plant go-ahead
On 29 July, Velocys announced that the final investment decision (FID) had been made to proceed with construction of a commercial GTL plant using the Companys technology. The project is being funded by the joint venture set up in March 2014 between Waste Management, NRG Energy, Ventech Engineers International and Velocys to develop a series of GTL plants in the United States and other select geographies. The plant, which is designed to be profitable on a standalone basis, will be located at Waste Managements East Oak landfill site in Oklahoma, USA. It will provide a commercial reference site for the Velocys technology and will deploy a number of the Companys full scale Fischer-Tropsch reactors. Read more

Acquisition of leading project developer and Ashtabula GTL project
On 25 June, Velocys announced the acquisition of one of the leading project developers of smaller scale GTL in North America together with its Ashtabula GTL project in Ohio. This will allow Velocys to further stimulate early market adoption of its technology by accelerating the development of shovel ready GTL projects as well as deepening its ties with suppliers, partners, investors and customers across the entire GTL value chain. Read more

On the conference circuit

Roy Lipski presented "Smaller scale GTL" at Mayer Browns Global Energy Conference in Houston, Texas and Oil Councils Canada Assembly in Calgary, Canada. Listen to the audio recording of the Mayer Brown panel discussion with contributions from Velocys at 1:05 and 1:46.

Jeff McDaniel, Commercial Director, presented "Smaller scale GTL - the roll-out" at the Zeus GTL North America Conference and Microchannel Fischer-Tropsch reactors: enabling smaller scale GTL at the GTL Technology Forum, both in Houston.

Heinz Robota, Director of Catalysis, presented High activity and selective Fischer-Tropsch catalysts for use in a microchannel reactor at TOCAT7, Kyoto, Japan.

Neville Hargreaves, Business Development Director, presented "Smaller scale GTL - the roll-out" at the World XTL Summit in London.

Coming soon:
Members of the team will be presenting at the following conferences over the coming months:
In the press

The historic announcement of FID for the commercial GTL plant at Waste Management's East Oak facility has been covered, in just a few days, by media publications such as Upstream, Hydrocarbon Processing and Green Car Congress. Roy Lipski, CEO of Velocys, also discussed this announcement in an interview recorded by BRR Media.

The Companys acquisition of a leading developer of smaller scale GTL projects has been covered in around 80 publications to date, including; Houston Business Journal, Interactive Investor, Green Car Congress, Biofuels Digest and Crains Cleveland Business. CFO Susan Robertson explained the thinking behind the acquisition in an interview recorded by BRR Media.

Ervington Investments raising their stake in Velocys in mid-May and the accompanying share price rise received wide coverage in the UK investment and national press. See, for example, The Guardian, the Financial Times and the Daily Mail. Elsewhere in the investor press, news that analysts Canaccord Genuity started covering Velocys and that the firm had set a speculative buy rating and a 400p price target on the stock was mentioned by, for example, Interactive Investor.

Articles were published in the Houston Chronicles FuelFix as well as SNL Energy, ICIS News and Rigzone following interviews with Roy Lipski at Mayer Browns Global Energy Conference on the 15th May, where he discussed his thoughts on the implications for the new age of natural gas as well as themes such as the decentralisation of energy production. Listen to the audio recording with contributions from Velocys at 1:05 and 1:46.

Our CEO had The Last Word in E&Ps May issue with an opinion piece entitled Smaller scale GTL is game-changer. A high profile article featuring a Q&A with Roy Lipski was published in the July issue of Houston Chronicle. Extensive articles on smaller scale GTL and Velocys were also published in Upstream Technology titled Small-scale GTL moves to the fore and Velocys goes for US and FSU as its hot spots.

Company news

Velocys has welcomed no fewer than eight new members of the team in the last three months, across all functions and sites. Of particular note are three new positions; Anand Sud joined Velocys from Dow Corning in July as Director of Human Resources. He will be responsible for translating our business strategy into sustainable human resources practices that contribute to the effectiveness of the business. Daniel Noday joined us as Value Stream Manager, helping to implement all aspects of our reactor and catalyst supply chain. Neal Patel also joined our Houston office in June as Manager of Market Analysis.

Houston-based PR agency Pierpont Communications recently began working with us to raise the media profile of Velocys in our main market, North America. This has allowed our existing London-based PR agency to focus on securing coverage in the London-based investment press and UK nationals. 
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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)