
HOUSTON and OXFORD, ENGLAND – May 29, 2026 — Velocys and Tetracore GTL Limited, a subdiary of Tetracore Energy Group, have signed a memorandum of understanding (MOU) to advance discussions regarding the deployment of Velocys’ Fischer-Tropsch (FT) technology for the proposed Atakobo gas-to-liquids (GTL) project in Ogun State, Nigeria.
Under the MOU, the parties will establish a framework for evaluating the potential licensing of Velocys’ modular microFTL™ technology and associated engineering and technical support services for a proposed GTL facility intended to convert approximately 55 MMSCFD of natural gas into premium liquid fuels, including diesel, Jet-A1 and naphtha.
The proposed plant is being developed by Tetracore as part of its broader downstream strategy to support gas monetization, domestic fuel supply, industrial development and energy security initiatives within Nigeria.
Tetracore Energy Group is a Nigerian energy solutions provider focused on gas and power value chains, supporting natural gas monetization and downstream delivery across the energy landscape in Nigeria while expanding its footprint across Africa. The company is advancing multiple initiatives across energy infrastructure, industrial development and digital infrastructure sectors.
The Atakobo GTL Project is intended to support Nigeria’s broader gas-led industrialization agenda by converting domestic natural gas resources into higher-value transportation fuels and industrial products for local and regional markets.
“This MOU represents an important step in evaluating how modular Fischer-Tropsch technology can support the development of gas monetization projects in high-growth energy markets,” said Sachin Joshi, Corporate Commercial Officer at Velocys. “Nigeria holds substantial natural gas resources and strong long-term industrial growth potential. We believe modular GTL solutions can play a meaningful role in supporting cleaner fuels, domestic energy supply and economic diversification objectives across the region.”
“This collaboration aligns with Tetracore’s commitment to advancing strategic energy infrastructure projects that support Nigeria’s industrial growth and energy transition priorities,” said Mr. Oladayo Williams, the Managing Director at Tetracore Energy Group. “The Atakobo GTL project is intended to create additional value from Nigeria’s natural gas resources while helping address domestic fuel demand through local production capacity.”
The proposed project would represent one of the first potential deployments of Velocys’ modular microFTL technology in Africa and reflects growing global interest in modular GTL and synthetic fuels solutions capable of monetizing natural gas resources at distributed and mid-scale applications.
Velocys’ microFTL technology is designed to enable compact, modular Fischer-Tropsch systems with high heat-transfer efficiency and lower infrastructure intensity compared to conventional large-scale GTL configurations. The technology has been demonstrated at commercial scale through prior operating campaigns producing synthetic fuels and wax products.
About Velocys
Velocys is a sustainable fuels technology company focused on the commercialization of Fischer-Tropsch technology for sustainable aviation fuel (SAF), renewable fuels and gas-to-liquids applications. Velocys licenses its proprietary microFTL™ technology and provides related engineering and technical services to project developers worldwide.
For more information, visit Velocys.com.
About Tetracore GTL Limited
Tetracore GTL Limited is a subsidiary of Tetracore Energy Group focused on gas monetization, gas-to-liquids development, and industrial energy infrastructure projects. The company is focused on leveraging Africa’s natural gas resources to deliver cleaner energy solutions, industrial feedstocks, and long-term energy infrastructure across strategic markets.
For more information, visit Tetracoregroup.com.
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