Velocys: Shell Withdraws from Waste-to-Jet Fuel Project
18 Janeiro 2021 - 5:15AM
Dow Jones News
By Matteo Castia
Velocys PLC said Monday that energy giant Royal Dutch Shell PLC
has withdrawn from the joint agreement to develop the Altalto
waste-to-jet fuel project in the U.K. by mutual consent.
"The Altalto project has no immediate funding calls and will
continue according to its existing development plan," the
sustainable-fuels technology company said.
Velocys said it will continue to work together with its other
joint partner, U.K. airline British Airways, owned by International
Consolidated Airlines Group S.A.
"Preparations are underway to apply for significant government
funding," Velocys said.
The Altalto project aims to build the first commercial scale
waste-to-transport-fuels plant in the U.K.
Write to Matteo Castia at matteo.castia@dowjones.com
(END) Dow Jones Newswires
January 18, 2021 03:00 ET (08:00 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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