I D
× COMMENTARYCOVER STORYIN THE NEWSNEWSFRONTSCHEMENTATOR + Show More
Chementator Briefs
Natural wax coating Researchers from Aalto University (Finland; www.aalto.fi) have…
BUSINESS NEWSTECHNICAL & PRACTICALFEATURE REPORTFACTS AT YOUR FINGERTIPSTECHNOLOGY PROFILEENVIRONMENTAL MANAGEREQUIPMENT & SERVICESFOCUSNEW PRODUCTS + Show More

Comment

Toyo Engineering to license Velocys technology for biofuels demonstration plant in Japan

By Mary Page Bailey |

Velocys plc (Harwell, U.K.; www.velocys.com) has secured a purchase order and technical service agreements with Toyo Engineering Corp. (Toyo) for the use of Velocys technology in a publicly funded demonstration facility in Nagoya, Japan, as well as an advance deposit for the use of the Velocys technology by Toyo in a subsequent commercial plant.

Toyo has placed an order with Velocys, worth approximately $0.5 million (£0.4 million), to supply its Fischer-Tropsch (FT) technology, equipment and catalyst for a biomass-to-jet fuel demonstration facility currently under construction by a consortium of Japanese companies.

In addition, Velocys has agreed that it will grant an exclusive right for Toyo to secure and use the licence and technical services of the Velocys FT Technology for a future potential commercial plant in Japan with an advance deposit of $4 million (£3.2 million). The deposit will be paid in a non-refundable tranche of $0.5 million (£0.4 million) and a further tranche which is potentially refundable and subject to milestones.

Henrik Wareborn, CEO of Velocys, said: “I am delighted with this further evidence of the global demand for sustainable aviation fuels and for our technology, which has already been demonstrated at commercial scale. I am proud that Velocys technology has been chosen to be part of this publicly funded demonstration facility, which is an important step towards a commercial application in Japan. We appreciate the commitment of Toyo, and we look forward to working with them and their partners to complete the demonstration and to support the expected future commercial plant.”

Related Content

Chemical Engineering publishes FREE eletters that bring our original content to our readers in an easily accessible email format about once a week.
Subscribe Now
Improving chemical production processes with IIoT and AI technologies
New filtration technology for highly corrosive media
PTA production: Lowering OPEX without compromising on quality
Sure that zero means zero in your zero-liquid discharge (ZLD) process?
How separation processes profit from Industrial Internet of Things (IIoT) solutions

View More

Live chat by BoldChat