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Share Name Share Symbol Market Type Share ISIN Share Description
Velocys Plc LSE:VLS London Ordinary Share GB00B11SZ269 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 6.20 6.15 6.30 6.55 6.15 6.47 3,435,626 16:35:22
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Alternative Energy 0.3 -9.9 -1.9 - 66

Velocys: Shell Withdraws from Waste-to-Jet Fuel Project

18/01/2021 8:15am

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By Matteo Castia

 

Velocys PLC said Monday that energy giant Royal Dutch Shell PLC has withdrawn from the joint agreement to develop the Altalto waste-to-jet fuel project in the U.K. by mutual consent.

"The Altalto project has no immediate funding calls and will continue according to its existing development plan," the sustainable-fuels technology company said.

Velocys said it will continue to work together with its other joint partner, U.K. airline British Airways, owned by International Consolidated Airlines Group S.A.

"Preparations are underway to apply for significant government funding," Velocys said.

The Altalto project aims to build the first commercial scale waste-to-transport-fuels plant in the U.K.

 

Write to Matteo Castia at matteo.castia@dowjones.com

 

(END) Dow Jones Newswires

January 18, 2021 03:00 ET (08:00 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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