REG - Velocys PLC - Appointment of Chief Financial Officer

VelocysAnnouncement

09/06/2022 07:00

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RNS Number : 2273O  Velocys PLC  09 June 2022

 

9 June 2022

News Release

 

Velocys plc

("the Company")

 

 

Appointment of Chief Financial Officer

 

Velocys plc (VLS.L), the sustainable fuels technology company, is pleased to
announce the appointment of Philip Sanderson as an Executive Director of the
Company and as Chief Financial Officer ("CFO") with effect from 22 June 2022.
This follows the Company's announcement in February 2022 that Andrew Morris
had advised of his intention to step down as CFO and will not stand for
re-election at the Company's annual general meeting on 21 June 2022. To ensure
a smooth transition, Andrew will remain with the business for an agreed
period.

 

Philip joins Velocys with over 30 years of international finance and
commercial expertise in advanced fuels and lubricants, large scale capital
project execution and low carbon energy in a range of divisions and affiliates
of Shell Plc. Philip is joining us directly from a role of Vice President
Finance Global Marketing.  Philip has an impressive track record in
commercial delivery, strategic planning, corporate governance and consistently
driving shareholder value.

Philip's experience includes roles in business partnering, financial and risk
management, governance and assurance, and major transaction engagement.
Additionally, he has extensive experience of capital project development and
project financing.

 

Philip holds a BA (hons) in Mathematics from The University of Oxford and is
an Associate of the Chartered Institute of Management Accountants.

 

Additional information:

 

The following information is disclosed pursuant to Schedule Two paragraph (g)
of the AIM Rules for Companies:

 

Philip Thomas Edward Sanderson, (aged 52) holds, or has held, the following
current and former directorships in the past five years:

 

 Current Directorships                  Previous Directorships in the last five years
 The Learning Through Landscapes Trust  Shell and Turcas Petrol A.S.
                                        Shell Downstream South Africa (Pty) Ltd.
                                        Shell East Europe Company Limited
                                        The Consolidated Petroleum Company Limited
                                        The Shell Company of Nigeria Limited
                                        The Shell Company of Turkey Limited
                                        The Shell Company (W.I.) Limited

 

Philip Sanderson does not currently hold any shares in the Company.

Henrik Wareborn, CEO, said:

"Philip's commercial acumen coupled with a senior financial background from a
global integrated energy major will help Velocys to accelerate its growth
strategy of providing integrated, IP-protected, decarbonisation technology to
clients in the most difficult to abate industrial sectors, such as aviation
fuel.

 

"I want to thank Andrew for his significant contributions to Velocys over the
last 5 years, initially as a non-executive board member and over the last
three years as CFO".

-----

 For further information, please contact:

Velocys                                                        +44 1865 800821

 Henrik Wareborn, CEO

 Andrew Morris, CFO

 Lak Siriwardene, Head of Communications & Sustainability

 Panmure Gordon (UK) Limited (Nomad and Joint Broker)           +44 20 7886 2500

 Hugh Rich (Corporate Broking)

 Emma Earl (Corporate Finance)

John Prior (Corporate Finance)

 Shore Capital Stockbrokers Limited (Joint Broker)              +44 20 7408 4090

 Henry Willcocks (Corporate Broking)

 Toby Gibbs (Corporate Advisory)

 James Thomas (Corporate Advisory)
 Radnor Capital (Investor Relations)                            +44 20 3897 1830

 Joshua Cryer

 Iain Daly

 Buchanan (Financial PR)                                         +44 20 7466 5000

 Helen Tarbet

 Simon Compton

 

--Ends-

 

 

 

Notes to Editors

 

Velocys is an LSE-listed, international sustainable fuels technology company,
traded on the AIM, providing customers with a technology solution to enable
the production of negative Carbon Intensity synthetic, drop-in fuels from a
variety of waste materials. Synthetic fuel is the only commercially available,
permanent alternative to fossil aviation fuels. The Velocys technology is
IP-protected in all major jurisdictions.

 

Two reference projects (Bayou Fuels, US, and Altalto, UK) are designed to
accelerate the adoption and standardise the Velocys proprietary Fischer
Tropsch (FT) technology with an integrated end to end solution, including
renewable power and carbon sequestration.

Velocys is enabling commercial scale synthetic fuel production in response to
the clean energy transition, with significant additional positive air quality
impacts.

www.velocys.com (http://www.velocys.com)

 

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