Velocys plc (VLS.L), the technology innovator for smaller scale gas-to-liquids (GTL), is announce that the final investment decision (FID) has been made to proceed with construction of a commercial GTL plant using the Company’s technology.
The project is being funded by a joint venture (JV) between Waste Management, NRG Energy (NRG), Ventech Engineers International (Ventech) and Velocys, formed to develop a series of GTL plants in the United States and other select geographies.
The plant, which is designed to be profitable on a standalone basis, will be located at Waste Management’s East Oak landfill site in Oklahoma, US. It will provide a commercial reference site for the Velocys technology and will deploy a number of the Company’s full scale Fischer-Tropsch reactors.
