Velocys and Bechtel to collaborate on SAF projects

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Type of post: NEWS IN BRIEF.

Velocys has announced the execution of a master relationship agreement (“MRA”) with Bechtel. The MRA sets out a route map for the parties to collaborate with each other with the objective of developing an EPC execution model for the Company’s sustainable fuels projects.

This collaboration will initially focus on Velocys’ two main reference projects (Altalto Project in Immingham, UK and Bayou Fuels Project in the US) and the recently announced e-Alto power-to-liquids project in the UK, all subject to the terms of future contracts. However, the MRA also covers other third-party projects that may be introduced by either Bechtel or Velocys.

Under a separate continuing technical services agreement, Bechtel is providing front end project engineering and other technical services to support the development of Velocys’ SAF project portfolio. In particular Bechtel is preparing to commence work on delivery of the Altalto Project Front-End Engineering and Design phase following the recent UK government grant funding of up to £27 million awarded to Velocys.

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