30th September 2015
Velocys plc (VLS.L), the company at the forefront of smaller scale gas-to-liquids (GTL), is pleased to announce the appointment of Mark Chatterji, BSc, MBA, as a Non-executive Director with immediate effect.
Mark Chatterji has been appointed as Chairman of the Audit Committee in place of Dr Jan Verloop, who will continue to act as a member of that Committee. Mark has also been appointed as a member of the Remuneration Committee and the Nominations and Governance Committee.
Mr Chatterji was previously the Chief Financial Officer and Executive Vice President Commercial of Woodside Petroleum Ltd. during the Front End Engineering & Design (FEED), final investment decision and construction phases of the Pluto LNG plant in Western Australia. Prior to joining Woodside, he was a Vice President in the Investment Banking Division of Goldman Sachs in New York. He has also held various positions at Atlantic Richfield Company (now part of BP plc), Merrill Lynch, and the United States Army. Mark is currently a self-employed entrepreneur. He holds a Master of Business Administration from the Wharton School at the University of Pennsylvania, and a Bachelor of Science from Georgetown University. Mr Chatterji is a US citizen and a resident of Texas.
Pierre Jungels, CBE, Chairman of Velocys, said:
"I am very pleased that Mark Chatterji is joining our Board. He brings valuable experience and knowledge of working in the oil and gas industry including in gas monetisation. More specifically he strengthens the Board with his considerable banking and finance sector experience, which is highly relevant at this stage in the growth of Velocys as the Company works with customers to develop financing for projects incorporating its technology.
"I would like to thank Jan Verloop for his unstinting contribution to the Company since the IPO and for his service as Chairman of the Audit Committee for several years."
There is no information that is required to be disclosed with regards to the appointment of Mark Andrew Chatterji, aged 46, pursuant to Schedule 2 paragraph (g) of the AIM Rules, save as set out below:
Current directorships and partnerships
CF Agriculture Corporation
Directorships and partnerships held within the past five years
Liquidity for Literacy
Metasource Pty Ltd
Woodside Energy Ltd
Woodside Finance Limited
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
Velocys is the company at the forefront of smaller scale gas-to-liquids (GTL) that turns natural gas or biomass into premium liquid products such as diesel and jet fuel. Smaller scale GTL adds value to shale gas and bio-waste, and makes stranded or flared gas economic – an untapped market of up to 25 million barrels per day.
Velocys technology, protected by several hundred patents in over 30 countries, 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 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 expected to reach mechanical completion in H1 2016.
Think Smaller™. Velocys is changing the way fuels are made.