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Velocys extends option pact with British Airways over alternative aviation fuel
StockMarketWire.com
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Sustainable fuels technology company Velocys said it had jointly agreed to extend a current option agreement with British Airways for the Altalto project to 31 March 2022.
Exercise of the option would give both parties equal equity ownership of Altalto and the right to appoint a director.
Velocys said it also welcomed a new £15 million green fuels competition launched by the UK government announcement, for which Altalto Immingham was planning to apply on behalf of Velocys and British Airways.
Velocys said it expected the project would be in a position to launch its front-end engineering design later in 2021 subject to confirmed UK government policy support and the addition of new investment partners in the project.
Story provided by StockMarketWire.com
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