UK-headed renewable fuel technology developer Velocys plc has announced that it has secured a site for Altalto Immingham Ltd, the UK waste-to-jet-fuel project which it is developing in collaboration with British Airways (BA) and Royal Dutch Shell (Shell).
According to a statement, the site of approximately 80 acres (≈ 36 ha), near Immingham, North East Lincolnshire, is in an Enterprise Zone and earmarked for industrial development within the Local Plan. Development is subject to planning consent; the formal planning application process is expected to begin in 2019.
Altalto Immingham Ltd, a subsidiary of Velocys, has entered into an option agreement which gives it the right, but not the obligation, to acquire Rula Developments (Immingham) Ltd, the company which owns the site, for up to three years.
The project team is developing the engineering and business case for the project, and the project is also subject to funding and a final investment decision, which would include a decision to proceed with the acquisition of the Immingham site.
In the event that the company in consultation with its partners decides not to proceed with the purchase, the liabilities incurred as a result of the agreement are not material to Velocys.
In the United States (US), Velocys is developing Bayou Fuels plant, a biomass-to-renewable diesel fuel project in Natchez, Mississippi (MS) for road transportation in the US.
