Focus on an integrated plant offer for renewable fuels.
Velocys’ current focus is on developing the integrated offer, with its partners, to address the renewable fuels market in the US. The offer will be a fully integrated and financed, cost effective and operations-ready plant solution. Details of progress on the first such project are detailed here.
ENVIA Energy's GTL plant adjacent to Waste Management's East Oak landfill site in Oklahoma City, USA is the commercial reference plant for Velocys’ technology. First product was produced at the plant in February 2017.
Velocys’ current focus is on developing the integrated offer, with its partners, in the renewable fuels market, but the company is continuing to license its technology to third party projects. Velocys' technology has been selected for use in a number of commercial projects including Red Rock Biofuels' 1,400 barrels per day biomass-to-liquids project to be located in Oregon, USA.
The company continues to believe that the successful operation of ENVIA's plant will expedite the development of third party sales opportunities. Even before this, significant advances continue to be made on new projects. For example, in 2016 an engineering study was completed by Velocys and its project partners for a project being developed on behalf of a national gas company in Central Asia that is seeking to develop its stranded gas reserves. Velocys' project partner is waiting for feedback on the engineering study from the project sponsor.
Additionally, Velocys remains in active and ongoing discussions relating to an opportunity with a major fuels player in the US. The project has an advantageous site with low-cost feedstock. Equity investors, feedstock suppliers and product offtakes are in place and the project has the potential to progress swiftly to final investment decision. The air permit for the plant was issued recently.