Velocys PLC Strategy update: "building the business" (6262R)
December 13 2016 - 1:00AM
UK Regulatory
TIDMVLS
RNS Number : 6262R
Velocys PLC
13 December 2016
News release
Velocys plc
("Velocys" or the "Company")
13th December 2016
Strategy update: "building the business"
Velocys plc (VLS.L), the company at the forefront of smaller
scale gas-to-liquids (GTL), is pleased to announce the result of
its strategy review, and has uploaded a presentation to its website
outlining further details of its strategy.
www.velocys.com/press/ppt/ppt_13Dec_2016_strategy.pdf
Construction of Velocys' commercial reference plant in Oklahoma
City is complete, and commissioning is ongoing. The new strategy
will build on this and Velocys' leadership position, adopting a
business model to increase control over project delivery through a
partnership approach and focussing on the most attractive
markets.
There are four core themes underpinning the new Velocys
strategy:
1. Strategic partnerships
Implement alliances with partners that have the required
resources, scale and capabilities to access large, high value
markets and drive growth.
2. Business model
With our partners, become the clear market leader by taking
control of multiple projects, reducing delivery risk and
accelerating growth, whilst Velocys remains capital light, with
strong economics from technology sales.
3. The offer
Jointly with our partners, deliver a "one-stop-shop" offer to
our customers - the fully integrated and financed, cost effective
and operations-ready plant solution.
4. Leverage capabilities
Leverage our differentiated technology, engineering and
operational capabilities, working seamlessly with our partners to
modularise and drive down costs of the complete offer.
Velocys, through its strategic alliances, will focus on creating
sustainable high growth businesses in the following markets:
1. Supply of premium renewable diesel and jet fuels, and premium
wax products from landfill gas and woody biomass in specific high
growth markets. Markets in North America will be the near term
focus;
2. Monetisation of stranded gas, producing premium wax products
in North America, as an entry point into other global stranded gas
markets;
3. Development of an integrated GTL solution to prevent the
flaring of associated gas offshore.
The Company's presentation is available at the web address
referenced above.
David Pummell, CEO of Velocys, said:
"Velocys has achieved significant milestones over the last 15
years, culminating in the construction of our commercial reference
plant in Oklahoma City, which is now being commissioned. The time
is now right to build on our position of strength; we are
mobilising to create world-class partnerships to take leadership
positions in key high-value markets. I am confident that we have
the right strategy that will deliver a substantive growth business.
I look forward to providing further details of the strategic
alliances that will underpin this strategy as we roll them
out."
- Ends -
For further information, please contact:
Velocys
David Pummell, CEO +44 1235 841
Susan Robertson, CFO 700
Numis Securities (Nomad and Broker)
Alex Ham
Stuart Skinner
Jamie Lillywhite +44 20 7260
Tom Ballard 1000
Canaccord Genuity (Joint Broker)
Henry Fitzgerald-O'Connor +44 20 7523
Ben Griffiths 8000
Camarco (financial communications
& PR)
Billy Clegg +44 20 3757
Georgia Edmonds 4983
Certain information contained in this announcement would have
constituted inside information (as defined by Article 7 of
Regulation (EU) No 596/2014) prior to its release as part of this
announcement.
Notes to editors
About Velocys
Velocys is the company at the forefront of smaller scale
gas-to-liquids (GTL), providing the bridge connecting stranded and
low value feedstocks such as natural gas, landfill gas or biomass
with markets for premium products such as renewable diesel, jet
fuel and waxes.
With its partners, Velocys aims to deliver the most economically
compelling conversion solution; a fully integrated offer that can
be deployed at scale into the growing, attractive markets on which
it focuses. Velocys technology, protected by several hundred
patents in over 30 countries, is specifically designed for smaller
scales, combining super-active catalysts with intensified reactor
systems. Standardised modular plants can be deployed readily in a
wide range of locations, and Velocys' capabilities and extensive
experience deliver a proven route to operation.
Velocys plc is admitted to trading on the AIM market of the
London Stock Exchange (LSE: VLS). The Company has a strong,
multi-disciplinary staff operating from its commercial centre in
Houston, Texas, USA and technical facilities near Oxford, UK and
Columbus, Ohio, USA. Its commercial reference plant, which is
located adjacent to Waste Management's East Oak landfill site in
Oklahoma City, is currently being commissioned.
www.velocys.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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