Velocys Enters Commercial Agreement with PTT Public Company
October 16 2013 - 4:44AM
Dow Jones News
LONDON--Velocys PLC (VLS.LN), the technology innovator for
smaller scale gas-to-liquids, said Wednesday that it has executed a
commercial agreement with PTT Public Company Ltd, to proceed with
the commercial deployment of the Company's GTL technology in
Thailand and other regions.
PTT has commissioned Toyo Engineering Corporation to prepare a
detailed front end engineering design for a 100 barrel per day GTL
plant that will incorporate the Company's SMR and Fischer-Tropsch
technologies.
Velocys PLC shares at 0808 GMT traded up 2.0 pence, or 1.4%, at
140.0 pence, valuing the company at GBP160.1 million.
-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
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