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Oxford’s Velocys signs sustainable aviation fuel project delivery agreement with Bechtel

26 January 2023
The Business Magazine article image for: Oxford’s Velocys signs sustainable aviation fuel project delivery agreement with Bechtel

Oxford Science Park-based sustainable fuels technology company Velocys has signed a master relationship agreement (MRA) with engineering firm Bechtel Limited.

The two firms have agreed to work together to develop a plan for carrying out Velocys’ sustainable fuels projects, with the MRA laying out how they should collaborate towards this goal.

Dependent on the terms of future contracts, the partnership will begin by focusing on Velocys’ two main projects, Altalto Project in Immingham, UK and Bayou Fuels Project in the US, as well as the recently announced UK power-to-liquids project, e-Alto. The MRA also covers the introduction of future third-party projects by both companies.

Read more - Oxford's Velocys awarded two UK Government grants totalling £29.5m 

A separate agreement sees Bechtel providing engineering and other technical services in support of Velocys’ Sustainable Aviation Fuel project portfolio, with particular focus from Bechtel on delivery of the Altalto Project Front-End Engineering and Design phase, which was boosted by a recent government grant funding of up to £27 million.

Henrik Wareborn, CEO of Velocys, said: "The master relationship agreement with Bechtel is an important step towards the provision of world class EPC capability and capacity to the expanding Velocys project portfolio. Working with Bechtel will give added value to current and future clients with respect to successful project delivery."

Paul Marsden, President, Bechtel Energy, said: "We are committed to supporting revolutionary energy transition projects designed to reduce global carbon emissions. As part of Bechtel's portfolio in sustainable fuels, we are excited to collaborate with Velocys and look forward to realising the potential of these facilities to introduce sustainable fuel options for global markets."

Read more - Sustainable fuel firm Velocys upbeat despite £5.7million loss

Sam is the Regional Editor of Biz News, responsible for both Hampshire and Dorset.

A new recruit to journalism, Sam started writing for the Business Magazine as a freelancer in May of 2022 after completing his degree in English at University College London. His passion for local businesses and ability to tell a story soon caught the attention of the publication’s management team and have led to his meteoric rise.

Sam, who lives in central Reading, takes a particular interest in technology, gaming and food and drink, having been a chef before starting his degree.

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