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3rd March 2017

Confirmation of strategic alliance with Morimatsu

Velocys plc (VLS.L), the company at the forefront of smaller scale gas-to-liquids (GTL), is pleased to announce that it has signed a definitive agreement covering its strategic alliance with Morimatsu (Jiangsu) Heavy Industry Co., Ltd., a subsidiary of Morimatsu Industry Co., Ltd. (Morimatsu). This agreement confirms the previously announced Memorandum of Understanding between Velocys and Morimatsu; Morimatsu will be Velocys' preferred supplier of modular design, engineering and fabrication services supporting the Velocys offer of delivering fully integrated, fully financed, cost effective and operations-ready plants to its customers.

Velocys and Morimatsu are now extensively working together with Velocys' other alliance partners, to further reduce the costs, optimise engineering designs, accelerate pace and reduce overall risk, for delivering multiple GTL and biomass-to-liquids (BTL) plants to its chosen markets.


For further information, please contact:

 

Velocys
David Pummell, CEO
Susan Robertson, CFO

+44 1235 841 700

Numis Securities (Nomad and joint broker)

Alex Ham
Stuart Skinner
Jamie Lillywhite
Tom Ballard

+44 20 7260 1000

Canaccord Genuity (Joint brokers)

Henry Fitzgerald-O'Connor
Ben Griffiths

+44 20 7523 8000

Camarco (financial communications & PR)

Billy Clegg
Georgia Edmonds

+44 20 3757 4983

 

Certain information contained in this announcement would have constituted inside information (as defined by Article 7 of Regulation (EU) No 596/2014) prior to its release as part of this announcement.


Notes

 

About Velocys
Velocys is the company at the forefront of smaller scale gas-to-liquids (GTL), providing the bridge connecting stranded and low value feedstocks such as natural gas, landfill gas or biomass with markets for premium products such as renewable diesel, jet fuel and waxes.

With its partners, Velocys aims to deliver the most economically compelling conversion solution; a fully integrated offer that can be deployed at scale into the growing, attractive markets on which it focuses. 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. Standardised modular plants can be deployed readily in a wide range of locations, and Velocys' capabilities and extensive experience deliver a proven route to operation.

Velocys plc is admitted to trading on the AIM market of the London Stock Exchange (LSE: VLS). The Company has a strong, multi-disciplinary staff operating from its commercial centre in Houston, Texas, USA and technical facilities near Oxford, UK and Columbus, Ohio, USA. First product has been produced at its commercial reference plant, which is located adjacent to Waste Management's East Oak landfill site in Oklahoma City.

 

About Morimatsu
Morimatsu is specialised in the design, engineering and fabrication of modular processing facilities for the oil and gas, petrochemical, fine chemical, pharmaceutical, power and metallurgical industries.

With its design and fabrication expertise, Morimatsu provides total solutions for its clients; from process equipment to packages and modular plants. Many international first-class companies have qualified Morimatsu and established long-term strategic cooperation relationships with the company.

The headquarters of Morimatsu is located in Gifu, Japan, while the process equipment and packages are mainly fabricated in three plants in China. Morimatsu offers a combination of competitive Chinese labour costs and Japanese quality and management systems.

www.morimatsu.jp/english/
www.morimatsu.com.cn/en

 

 

 

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.