Velocys technology selected for Japanese e-fuels project

Velocys plc (VLS.L), the sustainable fuels technology company, has announced its Fischer Tropsch (FT) technology has been selected for an e-fuels project by Toyo Engineering Corporation (TOYO) and its consortium of six leading Japanese companies.  E-fuels are a promising set of sustainable fuels synthesized from hydrogen that is generated with renewable power and carbon dioxide that is captured from existing sources or the atmosphere. 

Velocys’ role in this e-fuels project demonstrates the diversity of feedstocks that can be used in conjunction with the FT technology.

Alongside TOYO, the other five participating companies include Toshiba Energy Systems & Solutions Corporation, Toshiba Corporation, Idemitsu Kosan Co., Ltd., Japan CCS Co., Ltd., and All Nippon Airways Co., Ltd. These six companies are being commissioned by the Ministry of the Environment, Government of Japan jointly to commence a demonstration project. The ultimate goal is the commercialization of a sustainable aviation fuels (SAF) supply chain based on carbon recycling and regional revitalization through CO₂ recycling.

The global advancement of SAF requires the need for technology, such as that owned by Velocys, to decarbonize aviation and help meet net zero targets. Velocys technology can also enable the production of SAF from sustainable waste and biomass as well as renewable power and CO₂ streams (atmospheric and industry) into net zero carbon fuels for the airline industry.

Velocys’ contribution to the project remains subject to contract with TOYO, a further announcement will be made in due course.

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.