16 October 2013
Details
Velocys plc.,
the technology innovator for
smaller scale gas-to-liquids (GTL),
is pleased to announce that
it has executed a commercial agreement with
PTT Public Company Limited (PTT)
to proceed with the commercial deployment of
the company's gas-to-liquids, GTL technology in
Thailand and other regions.
Milestones
- The two companies have been collaborating since
late 2009,
- In February 2010, under the term of an MOU,
PTT agreed to provide funding for the development and
commercialisation of the Company's
microchannel steam methane forming (SMR) technology.
- In 2012,
under the terms of a research collaboration with Velocys,
PTT opened a new experimental facility
for testing microchannel reactors at its
Research Institute in Wangnoi, Ayutthaya, Thailand.
- In the next phase of collaboration, PTT has commissioned
Toyo Engineering Corporation to prepare a detailed
front end engineering design (FEED) for a
100 barrel per day (bpd) GTL plant
that will incorporate the company
SMR and Fischer-Tropsch (FT) technologies.
The plant will be located at one of PTT's production facilities
in Thailand. The engineering study will be completed
in mid-2014 and will be followed by
the final investment decision and facility construction.
Velocys,
Roy-Lipski, CEO
- We're delighted to be working with PTT and
to be progressing with the design of
the integrated GTL plant using Velocys technologies.
- It stands to be the largest capacity modular GTL plant of its
kind commissioned anywhere in the world todate.
PTT,
Khun Pailin Chuchottaworn, President and CEO
- Synthetic fuels are a strategic growth areas for PTT,
We are pleased to progress our partnership with Velocys,
the leaders in smaller scale GTL.
About Velocys
- The company, Previously known as
" Oxford Catalyst Group Plc",
changed its name to
"Velocys Plc" in September 2013.
- Velocys plc is listed on AIM market of
the London Stock Exchange (LSE).
- GTL converts low value gas into high value clean fuels
such as Diesel and Jet fuels and
provides a significant financial opportunity.
- Smaller scale GTL, enabled by Velocys technology,
provides a cost-effective way to take advantage of
smaller scale and remote gas resources.
- The success of Velocys's smaller scale GTL technology
lies in the combination of microchannel reactors and
super-active catalysts that
together, significantly intensify the FT process.
- Smaller scale GTL also provides an alternative to
the flaring of associated gas, thereby unlocking
oil production in fields that would otherwise be
constrained by the regulation or taxation of flaring.
- Due to the modular construction methods, plants based on
the use of microchannel reactors are very flexible, and
can be easily scaled to match the size of the resources.
- The modular are of a standardized designed and
are shop-fabricated in skid-mounted units,
making them easier to transport to remote locations or
to integrate with existing facilities on
refinery or gas-processing sites.
- The construction approach reduces the costs and risks
associated with building plants in remote locations.
- Velocys enables gas-to-liquids (GTL) plant to convert
unconventional, remote and problem gas into
valuable liquid fuels.
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