Velocys, the sustainable fuels technology company, has announced it has secured a further £1m funding for the Altalto waste-to-fuels project from British Airways and Shell.
The proposed Altalto Immingham plant is to convert hundreds of thousands of tonnes per year of residual waste into sustainable fuels - mainly aviation fuel.
The project is being executed under a joint development agreement (JDA) between British Airways, Shell and Velocys.
This JDA has now been extended as planned in order to support the continued technical and commercial development of the project.
Henrik Wareborn, Velocys CEO, said: “We are very pleased to have the continued support of British Airways and Shell as we move forward together with the Altalto project.
“Their commitment, during these uncertain times for the global economy, underlines the importance of this project for the aviation and fuels industries as we strive together to achieve net zero carbon emissions.”
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