Velocys, the sustainable fuels technology company, has revealed it has secured a further £500,000 (€557,000) grant funding for the Altalto waste-to-fuels project from the Department for Transport (DfT).
The proposed Altalto Immingham plant is planned to convert hundreds of thousands of tonnes per year of residual waste into sustainable fuels - mainly aviation fuel.
The funding comes under the Future Fuels for Flight and Freight Competition (F4C) programme.
Velocys was awarded a grant of £400,000 (€445,000) in Stage One of the F4C in 2018, and was shortlisted to receive an award in Stage Two.
The DfT has now made additional funding of the Stage Two grant available to the company.
Velocys is one of the two remaining companies expected to receive the balance of funding in Stage Two, subject to completion of future project milestones.
Henrik Wareborn, Velocys CEO, said: “We are very pleased to have the continued support of the Department for Transport for this project. The Altalto project is a key step towards a substantial supply of Sustainable Aviation Fuel in the UK, which is essential for meeting net zero carbon targets. This grant, particularly at the present time, underlines the importance of our project to the Government’s plans for a green recovery.”
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