Velocys presses ahead with Envia GTL plant as it announced HY results

Velocys, a UK-based gas-to-liquids (GTL) has announced that it is pushing ahead with the operational start-up of its Envia GTL plant in Oklahoma City, US.

The company recently announced that it completed the plant that will convert landfill gas into fuels and chemicals. Velocys will start operations at the facility soon.

Revenue for the first six months ended 30 June, 2016, was £500,000 (€575,000), compared to £100,000 the same period last year, the company reported.

‘Seminal milestone’

David Pummell, CEO of Velocys, said: “Successful commissioning and operational start-up of the Envia plant is now within sight and its steady state operation will represent a seminal milestone for Velocys.

“Planned progress is being made week by week towards this goal by our operational team on the ground in Oklahoma City.

“Our significantly increased operational involvement in the Envia project has allowed the company to assure the plant’s successful operation and has further enhanced our core competences and real-world GTL project execution, commissioning, start-up and operations capabilities.

“In addition I am very pleased with the progress made recently on a number of other fronts, including a detailed review of the company’s strategy, advancement of future project opportunities and maintaining a continued focus on prudent cost management across the company.”