Velocys delivers four reactors to Red Rock Biofuels
By Josh White
Date: Monday 03 Aug 2020
(Sharecast News) - Sustainable fuels technology company Velocys has completed the manufacture and delivery of four reactors to Red Rock Biofuels, it announced on Monday.
The AIM-traded firm noted that Red Rock has a further option to purchase an additional two reactors by the end of the year.
"We are very pleased to have completed the reactor order for Red Rock's facility in Oregon, which will produce low carbon sustainable fuels from forestry waste," said chief executive officer Henrik Wareborn.
"Our reactor supply chain has now been tested and has proven our capability to deliver our technology to our global clients."
Wareborn said Velocys had the technology, demonstrated at commercial scale, to enable the production of sustainable fuels.
"This fuel is essential for the hard to decarbonise transportation sector and will help to meet net zero emissions as required by many governments."
At 1135 BST, shares in Velocys were up 4.93% at 6.42p.
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