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14th Mar 2023

Appointment of Financial Adviser to Bayou Fuels and Altalto Immingham projects

Velocys plc (VLS.L), the sustainable fuels technology company, is pleased to announce that it has completed the appointment of a leading global investment bank to advise it on the financing of its two key technology reference projects; the Bayou Fuels project in Natchez, Mississippi, and the Altalto Immingham project in the UK.

Henrik Wareborn, CEO, said:
“Following the recent announcement of our master relationship agreement with Bechtel, today’s announcement further supports the acceleration of our commercial and strategic vision for Velocys.”

For further information please refer to the Notes to Editors or please contact:

Henrik Wareborn, CEO
Philip Sanderson, CFO
+44 1865 800821

Panmure Gordon (UK) Limited (Nomad and Joint Broker)
Hugh Rich (Corporate Broking)
Emma Earl (Corporate Finance)
John Prior (Corporate Finance)
+44 20 7886 2500

Shore Capital Stockbrokers Limited (Joint Broker)
Henry Willcocks (Corporate Broking)
Toby Gibbs (Corporate Advisory)
James Thomas (Corporate Advisory)
+44 20 7408 4090

Radnor Capital (Investor Relations)
Joshua Cryer
Iain Daly
+44 20 3897 1830

Buchanan (Financial PR)
Helen Tarbet
Simon Compton
+44 20 7466 5000

Notes to Editors

Velocys is an LSE-listed, international sustainable fuels technology company, traded on the AIM, providing customers with a technology solution to enable the production of negative Carbon Intensity synthetic, drop-in fuels from a variety of waste materials. Synthetic fuel is the only commercially available, permanent alternative to fossil aviation fuels. The Velocys technology is IP-protected in all major jurisdictions.

Two reference projects (Bayou Fuels, US, and Altalto, UK) are designed to accelerate the adoption and standardise the Velocys proprietary Fischer Tropsch (FT) technology with an integrated end to end solution, including renewable power and carbon sequestration.

Velocys is enabling commercial scale synthetic fuel production in response to the clean energy transition, with significant additional positive air quality impacts.

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