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Velocys outlines new strategy as gas-to-liquids plant continues commissioning

Chief executive David Pummell said: “The time is now right to build on our position of strength".

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Velosys wants to bring in partners for new projects

As Velocys Plc (LON:VLS) commissions its ‘commercial reference’ gas-to-liquids processing plant in Oklahoma City it has outlined its new strategy to investors.

It says that the plan will build on the group’s success developing the plant and will give it more control.

Velocys detailed its core strategies. It told investors it wants to implement industry alliances with partners that ‘have the required resources, scale and capabilities to access large, high value markets and drive growth.

The group wants to take on multiple projects, alongside partners. It aims to offer a one-stop-shop, giving its clients fully integrated, financed and operations-ready plants.

Chief executive David Pummell said: “Velocys has achieved significant milestones over the last 15 years, culminating in the construction of our commercial reference plant in Oklahoma City, which is now being commissioned.

“The time is now right to build on our position of strength; we are mobilising to create world-class partnerships to take leadership positions in key high-value markets.

“I am confident that we have the right strategy that will deliver a substantive growth business. I look forward to providing further details of the strategic alliances that will underpin this strategy as we roll them out."

Quick facts: Velocys Plc

Price: 6 GBX

AIM:VLS
Market: AIM
Market Cap: £63.83 m
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