Velocys enables its customers, which can include SAF project developers, site owners, feedstock owners and fuel producers to find an economical, commercially viable pathway to decarbonisation. Velocys provides them with a fully integrated technology package that contains a suite of technical and engineering services.
Several elements are falling into place that support the success of Velocys’ clients, including government regulatory support, abundant and sustainable feedstock, carbon capture and sequestration, supply of renewable power, and most of all, a technology that works. Velocys provides a uniquely integrated package with its IP-protected technology at its core.
Velocys’ Altalto SAF reference project in Immingham, U.K., is being jointly developed between Velocys and British Airways.
Once completed in 2027, the project will be one of the first waste-to-SAF plants in the U.K., producing 21 million gallons of SAF from municipal and commercial solid waste.
In November 2021, Velocys signed an offtake MOU agreement with International Consolidated Airlines Group S.A. (IAG), who own British Airways, for the purchase of 73 million gallons of SAF over 10 years from the Bayou Fuels project in Mississippi, USA.
In November 2021, Velocys and Southwest Airlines signed an offtake agreement for 219 million gallons of SAF from the Company’s Bayou Fuels reference project in Mississippi, USA.
Southwest has purchased the SAF at a fixed price over 15 years and the SAF, once blended, will enable approximately 575 million gallons of net negative carbon emissions SAF.
In March 2022, funds managed by Foresight Group LLP purchased Altalto Immingham’s stake in Rula Developments (Immingham) Ltd, which owns the site for the proposed Altalto project.
Altalto has granted Foresight a right of first refusal to invest up to £100 million in the project.
In January 2023, Bechtel, one of the world’s most respected engineering companies, announced that it would collaborate with Velocys with the objective of developing an EPC execution model for its two reference projects and its e-Alto power-to-liquids project in the U.K.
The agreement also covers other third-party projects to which Bechtel and Velocys may agree going forward. Bechtel will also provide front end project engineering and other technical services to support the development of Velocys’ project portfolio.
Since 2019, Velocys has been collaborating with Toyo Engineering Corporation to help develop a commercial-scale biorefinery in Japan to produce SAF.
TOYO has applied Velocys’ Fischer-Tropsch reactors and catalyst, to a demonstration project in Japan, which were used to produce SAF from woody biomass. This SAF was used for Japan Airlines flight (JAL #515) from Tokyo to Sapporo in June 2021.
In a show of continued support from the Department for Transport, Velocys was awarded £27m from its Advanced Fuels Fund competition in December 2022 for its Altalto SAF project.
In addition to this, the DfT also awarded Velocys £2.5m to contribute towards an e-fuels project.