Toyo and Velocys execute collaboration agreement
Velocys has signed an agreement with Toyo Engineering Corporation to start the development of their commercial projects to produce Sustainable Aviation Fuel (SAF) and other renewable fuels in Japan.
The agreement follows on from the successful work already conducted last year between the two at the biomass-to-jet-fuel demonstration facility in Japan.
This included the provision of technical engineering and operational services, as well as the completed construction and delivery of Velocys’ Fischer-Tropsch (FT) technology.
As part of this new collaboration the parties have engaged in the preliminary engineering evaluation in a joint effort to deliver a commercial scale biomass-to-jet fuel project in Japan.
As previously announced, Velocys will grant an exclusive right for Toyo to secure and use the licence and technical services of the Velocys FT Technology for the commercial plant in Japan.
In addition, the collaboration will extend to include the supply of the Velocys FT technology in other SAF, e-Fuels and biomass-to-liquids projects in the Japanese market.
Henrik Wareborn, CEO of Velocys, said: “Velocys has a long-standing relationship with Toyo Engineering and this collaboration agreement further supports this commitment. It indicates that Velocys is now firmly in the phase of delivering our commercial scale technology to our clients’ commercial projects. Making our first steps into commercial delivery in the Japanese market strengthens our position in an additional geography to North America and Europe.”
Haruo Nagamatsu, CEO of Toyo, aded: “After the successful collaboration with the demonstration plant in Japan, we are pleased to be moving onto the next stage of the plan. The commercial deployment of the integrated technology that has been demonstrated last year, including the Velocys FT Technology, is now underway with the first stages of the engineering designs.”
The agreement follows on from the successful work already conducted last year between the two at the biomass-to-jet-fuel demonstration facility in Japan.
This included the provision of technical engineering and operational services, as well as the completed construction and delivery of Velocys’ Fischer-Tropsch (FT) technology.
As part of this new collaboration the parties have engaged in the preliminary engineering evaluation in a joint effort to deliver a commercial scale biomass-to-jet fuel project in Japan.
As previously announced, Velocys will grant an exclusive right for Toyo to secure and use the licence and technical services of the Velocys FT Technology for the commercial plant in Japan.
In addition, the collaboration will extend to include the supply of the Velocys FT technology in other SAF, e-Fuels and biomass-to-liquids projects in the Japanese market.
Henrik Wareborn, CEO of Velocys, said: “Velocys has a long-standing relationship with Toyo Engineering and this collaboration agreement further supports this commitment. It indicates that Velocys is now firmly in the phase of delivering our commercial scale technology to our clients’ commercial projects. Making our first steps into commercial delivery in the Japanese market strengthens our position in an additional geography to North America and Europe.”
Haruo Nagamatsu, CEO of Toyo, aded: “After the successful collaboration with the demonstration plant in Japan, we are pleased to be moving onto the next stage of the plan. The commercial deployment of the integrated technology that has been demonstrated last year, including the Velocys FT Technology, is now underway with the first stages of the engineering designs.”
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