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8th January 2015

CompactGTL's permission to appeal refused

Velocys plc (VLS.L), the company at the forefront of smaller scale gas-to-liquids (GTL), announces that the UK Court of Appeal has refused CompactGTL's permission to appeal in relation to the IP infringement case brought against it by the Company.

As announced on 22nd September 2014, the UK High Court upheld the validity of the two patents in suit (known as '508 and '509), and found CompactGTL to be infringing both patents – six separate patent claims in total.

CompactGTL's request for appeal concerning the judgement of validity and infringement on patent '509 has now been denied. Whilst, CGTL may still appeal the court's findings on the '508 patent, the UK Court of Appeal's recent decision means that a judgement of infringement (at least on the '509 patent) is upheld and therefore an injunction restraining CompactGTL will remain in force (see RNS dated 3 October 2014). Determination by the court of damages (or an account of profits) to Velocys is continuing.

Velocys has a very substantial patent portfolio comprising more than 900 patents, covering a broad range of countries, which protects key inventions relevant to smaller scale GTL. The Company also holds a significant inventory of trade-secrets which it has gained through years of development and practice.

Equivalents of the two patents in this case have also been approved in numerous other jurisdictions around the world, including places where smaller scale GTL might be deployed, such as the United States and Canada, and countries where FT reactors and other associated equipment might be manufactured, such as Japan and South Korea.



Contact

Velocys

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

Camarco (financial communications & PR)

Billy Clegg / Georgia Mann

 

+44 20 3757 4983

 


Notes

Velocys is the company at the forefront of smaller scale gas-to-liquids (GTL) that turns natural gas into premium liquid products such as diesel and jet fuel. Smaller scale GTL adds value to shale gas and makes stranded or flared gas economic – an untapped market of up to 25 million barrels per day.

Velocys technology, protected by over 900 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 with some $100 million of cash, 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 on track to enter full production by Q2 2016.

 

Think Smaller™. Velocys is changing the way fuels are made.

 

 

 

Velocys plc trades through its subsidiaries Velocys, Inc., 7950 Corporate Blvd, Plain City, Ohio 43064, USA (Registered in the State of Delaware, USA) and Velocys Technologies Ltd, 115e Olympic Avenue, Milton Park, Abingdon, OX14 4SA, UK (Registered in England No. 5258554). Terms & Conditions. "Velocys" and the Velocys logo are trademarks of Velocys. © 2017 Velocys. All Rights Reserved.