Velocys PLC Confirmation of strategic alliance with Morimatsu (4191Y)
March 03 2017 - 1:00AM
UK Regulatory
TIDMVLS
RNS Number : 4191Y
Velocys PLC
03 March 2017
News release
Velocys plc
("Velocys" or the "Company")
3 March 2017
Confirmation of strategic alliance with Morimatsu
Velocys plc (VLS.L), the company at the forefront of smaller
scale gas-to-liquids (GTL), is pleased to announce that it has
signed a definitive agreement covering its strategic alliance with
Morimatsu (Jiangsu) Heavy Industry Co., Ltd., a subsidiary of
Morimatsu Industry Co., Ltd. (Morimatsu). This agreement confirms
the previously announced Memorandum of Understanding between
Velocys and Morimatsu; Morimatsu will be Velocys' preferred
supplier of modular design, engineering and fabrication services
supporting the Velocys offer of delivering fully integrated, fully
financed, cost effective and operations-ready plants to its
customers.
Velocys and Morimatsu are now extensively working together with
Velocys' other alliance partners, to further reduce the costs,
optimise engineering designs, accelerate pace and reduce overall
risk, for delivering multiple GTL and biomass-to-liquids (BTL)
plants to its chosen markets.
- Ends -
For further information, please contact:
Velocys
David Pummell, CEO +44 1235 841
Susan Robertson, CFO 700
Numis Securities (Nomad and joint
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. First product has been produced at its
commercial reference plant, which is located adjacent to Waste
Management's East Oak landfill site in Oklahoma City.
www.velocys.com
About Morimatsu
Morimatsu is specialised in the design, engineering and
fabrication of modular processing facilities for the oil and gas,
petrochemical, fine chemical, pharmaceutical, power and
metallurgical industries.
With its design and fabrication expertise, Morimatsu provides
total solutions for its clients; from process equipment to packages
and modular plants. Many international first-class companies have
qualified Morimatsu and established long-term strategic cooperation
relationships with the company.
The headquarters of Morimatsu is located in Gifu, Japan, while
the process equipment and packages are mainly fabricated in three
plants in China. Morimatsu offers a combination of competitive
Chinese labour costs and Japanese quality and management
systems.
www.morimatsu.jp/english/
www.morimatsu.com.cn/en
This information is provided by RNS
The company news service from the London Stock Exchange
END
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