PUTRY PTT Public Company Ltd (PK)

LONDON--Velocys PLC (VLS.LN), the technology innovator for smaller scale gas-to-liquids, said Wednesday that it has executed a commercial agreement with PTT Public Company Ltd, to proceed with the commercial deployment of the Company's GTL technology in Thailand and other regions.

PTT has commissioned Toyo Engineering Corporation to prepare a detailed front end engineering design for a 100 barrel per day GTL plant that will incorporate the Company's SMR and Fischer-Tropsch technologies.

Velocys PLC shares at 0808 GMT traded up 2.0 pence, or 1.4%, at 140.0 pence, valuing the company at GBP160.1 million.

-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet

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