Velocys Share Discussion Threads

[gac141] 23/9/2017 16:45

I don't think you will have long to wait visionon...

[visionon] 23/9/2017 16:30

I see that Nevada approved bonds in August for Fulcrum plant, although nothing appears in news section of Fulcrum website.

Numbers and dates are interesting to analyse. Date on site would seem consistent with first products in 2019, which is what Fulcrum corporate video says. Waste Management first invested in Fulcrum project in 2011, but the waste sorting plant is already finished so it's not truly an 8yr wait.

These things take time. And maybe WM have been reluctant to allow much ENVIA newsflow based on that experience. People on this board who constantly moan at VLS should perhaps bear in mind that WM are the landowner, feedstock supplier and major shareholder. So they will likely call the shots. In addition VLS are competing for other grants, loans and project funders. So it would logical to be parsimonious with news flow. Why tell the opposition what you are producing and selling at this stage ?

Also I would be surprised if advisors to BA, Suez, Abramovich haven't visited ENVIA and verified its performance before announcing a UK partnership.

Finally I wonder whether interims might be later this year ie the newsletter is to tide us over for a few weeks. Or do we have a date announced ?

hxxp://www.nevadaappeal.com/news/local/150-million-in-state-bonds-for-tahoe-reno-industrial-center-biofuels-plant/

[deutsch3] 22/9/2017 18:18

Gentlemen - I assume you are investors - Study the share price over recent months and years please - Not a pretty sight - None so deaf......

[realfreeloader] 22/9/2017 17:31

Lipski was a salesman, we have been through the period of RNS's that didn't live up to the promise. Much happier with a CEO who gets on with the business of moving the company forward. Any figures for product produced etc would be in the summary of the Results RNS due, as market senseitive information it would not be included in the speedread.

Appreciation to Gac for your well informed posts.

The joy of the filter button!

[deutsch3] 22/9/2017 17:14

EJ- I am tempted to be vulgar in my reply to you. - Has it ever occurred to you that I may want to make further investment in the company. - What do you think would make me do so? - Has it ever occurred to you that in the absence of useful progress information I may want to sell my existing investment. - This company does not understand the real world and the need for marketing. - As for you, well - keep your research to yourself thanks.

[deutsch3] 22/9/2017 16:13

gac - The production levels are either not good or this is run as a secret society - you can't have it both ways.- It's good you do what you do - but the management make no attempt to communicate with existing or potentially new shareholders. - If the news is good then say so! - otherwise I worry.

[goodgrief] 22/9/2017 15:39

Well I hope they start banging their own drum before raising more money. Can't even get into large chunks of their website without needing a password!

Clearly the previous CEO was more of a salesman.

[fluky] 22/9/2017 15:39

gac141: don't you think that the first sale of the ENVIA's plant product is a material event which should be communicated?
The SpeedRead would have been the perfect vehicle to state at least how much product was produced.

[goodgrief] 22/9/2017 15:10

gac... what would Velocys do without you!?

[gac141] 22/9/2017 15:01

I will add that the quality of our products are amongst the best the world has seen...that is why a number of very high profile companies will be knocking on our door. The next few months will be very revealing...as ever do your own research!

[gac141] 22/9/2017 14:47

You guys make me laugh. If you had taken the time to contact the compsny; as indeed I have, you would know all is exceedingly well with ENVIA. This is a shining example of what we have achieved and our clients are avidly buying our product in truck loads....

[fluky] 22/9/2017 12:31

I agree Deutsch3: the SpeedRead does not say that the plant is operating at nominal capacity. The statement "the plant is now operating" suggests that the plant has been down. Why?

[deutsch3] 22/9/2017 12:09

What the 'F' is this all about? - How much product has been produced and how much income? - Where is the RNS detailing the management discussion and agreement to such a major realignment of the company? - Do the management really know there are other shareholders with a vested interest - not just the major string pullers. - Is this the USA shark swallowing the company, its initiatives, patents and of course return on investments/profit. Honey trap complete.

[gac141] 22/9/2017 11:59

SpeedRead
September 2017
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The last quarter has seen strong momentum within the business, including production at the ENVIA plant in Oklahoma, good progress on our first US biorefinery, and the announcement of a partnership with British Airways and others to develop plants in the UK.

On our first biorefinery project, we have made good progress towards the delivery of key work packages including the engineering study with IHI E&C and the integrated technology demonstration with gasification technology providers TRI. These initiatives are needed to secure a conditional commitment from the US Department of Agriculture (USDA) for their loan guarantee program, which is the next stage towards securing a final investment decision (FID) for our first US biorefinery.

The commercial reference plant for our technology - ENVIA Energy’s plant in Oklahoma City is now in operation, producing finished, saleable products that are being regularly collected by customers. After it had been demonstrated that Velocys’ Fischer-Tropsch reactors and catalyst are performing in line with performance requirements at a commercial scale, we concluded that the primary phase of our technology development programme had been successfully completed. We took the decision to cease our R&D activities in the UK and certain related activities at our US technology centre in Ohio. The Company will continue to maintain a corporate management, commercial and operational office in Oxfordshire, UK.

This strategic realignment of the organisation is allowing us to direct our resources, be it management focus and time, or cash reserves, towards those business-critical areas in which we need to deliver milestones in the next year and beyond. The key focus of the Company is to take forward its programme of delivering multiple biorefineries that manufacture renewable fuels for the US market. It is a further step in our transition from “Velocys the technology company” to “Velocys the renewable fuels company”. I would like to pay tribute to all the people who have played a big part in getting Velocys to where it is today but who will not be part of its onward journey.

In the UK we recently announced the formation of a partnership to address the opportunity for waste to jet fuel plants in the UK. We are very pleased to be working with world class partners both on this initial feasibility stage of the project and to help execute the vision of a repeatable series of plants. Our approach to this market is highly complementary to our main focus of addressing the woody biomass to renewable fuels market in the US. In both we aim to deliver integrated plant solutions, in collaboration with partners, to fulfil a real market need.

I look forward to providing further details of other developments regarding the projects mentioned here as the year progresses.

View the company’s new website www.velocys.com or get in touch if you would like more information on any of the items highlighted in this newsletter. Email...

David Pummell, CEO
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What's new?
Business update
On 21 July the company announced that it was actively transitioning from its previous focus on technology development, to the commercialisation of its technology in selected high value markets. The company’s UK laboratory will close and certain related activities will cease at its facility in Ohio. The Company will continue to maintain a commercial and operational office in Oxfordshire, UK. Velocys will continue to grow its operational base in Houston and build the capabilities required to take forward its new biorefinery delivery business model with its strategic partners. Read more…

In June, David Pummell’s statement at the 2017 Annual General Meeting also reflected the company’s transition. Read more…

First finished product at ENVIA Energy’s gas-to-liquids plant
30 June saw the Company announce that first finished, saleable product had been successfully produced at ENVIA Energy’s GTL plant in Oklahoma City. The on-site operations team is continuing the implementation of the pre-planned programme of ramping up production to target operational capacity. Read more…

Advancing towards US Department of Agriculture loan guarantee
In mid-June the USDA invited Velocys to submit a Phase II Application to obtain a loan guarantee for Velocys’ first commercial-scale biorefinery. The loan guarantee could apply to up to $200 million of debt as part of the total installed cost of the project. Velocys has the goal of completing all work packages required, concluding commercial negotiations, securing project equity funding, and securing a conditional commitment from the USDA and reaching FID during the course of 2018. Read more…

Selection of IHI E&C for feasibility engineering
On 5 June the company announced that it had selected IHI E&C to carry out the pre-FEED (FEL-2) engineering for its first biomass-to-liquids (BTL) plant for the US renewable fuels sector. IHI is a world class EPC that has an excellent track record across the entire BTL value chain that will drive further reductions in plant costs and accelerate the timeline to renewable fuels produced on a scalable and repeatable basis. Read more…

Partnership formed aimed at waste-to-jet-fuel plants in the UK
In September Velocys entered into an industry partnership to prepare the business case for a commercial scale waste-to-jet-fuel plant in the UK. The partnership includes British Airways, Suez (a world leading expert in recycling and waste management) and an affiliate of Velocys’ largest shareholder, Ervington Investments. Read more…

Directorate changes
On 21 July Velocys announced that CFO Susan Robertson had decided to leave the company. We are extremely grateful to Susan for the contribution she has made to Velocys throughout her 9 years on the Board. John Tunison, an experienced interim CFO with nearly 15 years’ experience working in finance leadership roles with Shell, Univar and Ascend Performance Materials, amongst others, has since joined the Company, and is based in Houston. Read more…

On 1 June Andrew Morris was appointed as a Non-Executive Director of Velocys, and as Chair of the Board’s Audit and Risk Committee. Andrew Morris has extensive experience as Chairman, CEO, CFO and Group Finance Director for AIM companies, SMEs and private equity backed organisations, including in the energy from waste and biofuels sectors. Read more… Later that month Ross Allonby stepped down from his position as Non-Executive Director. Read more…

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On the conference circuit
One consequence of the company’s focus on the development of projects with its strategic partners is that Velocys does not plan on presenting at as many industry conferences as it has done in the past.

Jeff McDaniel, Commercial Director, presented at the Energy Frontiers International spring meeting in Denver in June. Philipp Stratmann, Business Development Director, will present at the Advanced Bioeconomy Leadership Conference on Next Generation Technologies (ABLC Next) in San Francisco in October.
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In the press
News of the partnership formed including British Airways to address the opportunity for waste to renewable jet fuel plants in the UK was reported, for example, in the Daily Mail, GreenAir Online, Business Traveller and CityAM. A Royal Academy of Engineering report reiterated the desirability of using waste as a feedstock in the production of fuels and supports the proposed changes to the RTFO. Biofuels Digest and the BBC summarised the report.

At the end of June, the analyst at City broker Canaccord Genuity published a research note on Velocys refocusing on the renewable fuels sector.

Regulations and state- and city-lead initiatives are continuing to be implemented in response to increasing consumer demand for renewable fuels. For example, in the Pacific Northwest, the Seattle Weekly reported on a press conference held by the Port of Seattle to outline its plans to ultimately power every flight out of Sea-Tac Airport with sustainable aviation biofuel. As reported in BioEnergy International, in July, the California State Senate and Assembly voted to extend the State’s cap-and-trade program until 2030, and to codify the State’s Low Carbon Fuel Standard (LCFS) into law.

At a federal level, it has been reported by CNBC that the U.S. Environmental Protection Agency will reject a proposal to overhaul the Renewable Fuels Standard (RFS) to shift blending responsibility away from refining companies. Biofuels manufacturers have applauded this position that would maintain the status-quo. North of the boarder, the National Post reported how Canadian airlines are aiming for the country to use its considerable resources, including forest residues, to become a “biofuel superpower”.

Natural Gas Intelligence and Biofuels Digest, amongst others, reported on Velocys' shift in focus over recent months to renewable fuels. Biomass Magazine covered the company’s success in being invited to proceed to Phase II of the USDA loan guarantee program, whilst Sharecast published an article on the selection of IHI E&C for pre-FEED engineering of its first biomass-to-liquids plant.
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Company news
In July we welcomed Tex Carter to the position of Vice President, Capital Projects. He joins the Houston-based project team and brings with him over 45 years of experience working in engineering, procurement and construction companies such as Fluor and Amec Foster Wheeler, as well as in owner’s organisations. His experience includes developing and delivering projects globally in oil, gas, petrochemicals, power and manufacturing. Tex will be responsible for the overall project management of the biomass-to-liquids programme and will help to build a project management organisation to serve Velocys’ plans for growth in the development and operation of biorefineries.
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Contact us for further information
General enquiries: [e-mail]
Press enquiries: [e-mail]
Careers: [e-mail]




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[brucie5] 22/9/2017 10:53

Bought in again at .47, having sold the rise too early.

I'm thinking that Gac may indeed be right; and the recent RNS may prove more impressive than it first seemed ( to me).

[gac141] 22/9/2017 10:04

The work that we did with Ervington in prior year is why we got world class partners like British Airways Suez on board now. Remember this is very important for our profile and gets worldwide attention. Hoping we will get a good update on Monday....

[gac141] 21/9/2017 14:50

Interim's due very shortly... Very much looking forward to the commentary ....

[ny boy] 21/9/2017 11:31

A few mini bear traps before we break 50p, stay patient and be handsomely rewarded.

[999rp] 21/9/2017 07:40

Looks like an interesting company especially with green taxes coming in the recent climate change with hurricanes and floods must surely have an upside to the development this company is making

[gac141] 21/9/2017 06:11

Take a look at the new website. ..
www.velocys.com

[musarddjm] 21/9/2017 04:16

Whatever happened to the study in 2016:https://www.investegate.co.uk/velocys-plc--vls-/rns/study-commences-on-uk-based-waste-to-liquids-plant/201602240700149330P/Given this, and previous Greensky work, I'm surprised that the time scales are so long for the new BA project.