REG - Velocys PLC - Directorate Change

VelocysAnnouncement

10/02/2022 07:00

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RNS Number : 2753B  Velocys PLC  10 February 2022

10 February 2022

 

 

Velocys plc

 

("Velocys" or the "Company")

 

Leadership update

 

 

Velocys plc (VLS. L), the sustainable fuels technology company, announces the
following changes to its management team.

 

Management Team

 

Andy Bensley has joined Velocys as the Global Head of Business Development and
Technology delivery. He comes with 35 years of international experience in
senior corporate, functional leadership and project delivery roles in both
major IOC's and EPC contractor organisations, including positions at Bechtel,
Shell, SK E&C and Eni.

 

Heinz Robota, VP Technology, will be retiring from his role after 10 years at
Velocys and will be replaced by Dawid Duvenhage who joined the Company in
November 2021 with the responsibility for Velocys' catalysis division. Heinz
has led the catalysis efforts from R&D into commercial demonstrated status
of Velocys' super active FT catalyst. Following an initial career as a chemist
and chief scientist, Dawid has over 30 years' experience in catalyst
development, scale-up and commercialisation.

 

Heinz has agreed to continue to support Velocys as a member of our Senior
Scientific Advisory Board.

 

Directorate Change

 

Andrew Morris, CFO, has advised the Board of his intention to leave Velocys in
order to pursue other career opportunities. The intention is for Andrew to
step down as CFO and Board Director during Q2 2022. Further updates will be
made in due course.

 

Andrew has been with Velocys since 2017 when he joined the board as a
Non-Executive Director and Chairman of the Company's Audit and Risk Committee.
As part of an Executive management change in 2018, Andrew stepped in as CFO of
the Company that year. He has played a key role in strengthening and
consolidating the finance function of the Company. The Board is grateful for
Andrew's service and his commitment, and he will leave with Velocys' very best
wishes for his future endeavours.

 

 

 

Phil Holland, Chairman of Velocys, said:

 

"The Board would like to convey its gratitude to Andrew for his role in
establishing a strong finance function within Velocys, and for his ongoing
support over the coming months. We wish Andrew the very best in his pursuit of
new opportunities and the next chapter of his professional career.

 

"I, along with Henrik Wareborn and the Board, welcome the appointment of Andy
Bensley, who will accelerate the commercialisation of the Velocys technology
with a focus on strengthening the global client pipeline.

 

"Our sincere appreciation goes to Heinz who will be retiring next month. He
has held an integral and leading role in catalysis technology development, and
Dawid Duvenhage has picked up the reins to continue Velocys' critical
technology work.

 

"Velocys is well positioned to deliver substantial growth by providing our
clients with our sustainable synthetic fuels technology enabling commercial
scale production of high energy density fuels with negative carbon intensity."

 

 

 

 

Certain information contained in this announcement would have constituted
inside information (as defined by Article 7 of Regulation (EU) No 596/2014)
prior to its release as part of this announcement.

 

---------

For further information, please contact:

 Velocys                                                            +44 1865 800821

 Henrik Wareborn, CEO

 Andrew Morris, CFO

 Lak Siriwardene, Director 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)

 Liam Zabludowicz (Corporate Advisory)

 Buchanan (Financial PR)                                            +44 20 7466 5000

 Helen Tarbet

 Simon Compton

 Radnor Capital (Investor Relations)                                +44 20 3897 1830

 Joshua Cryer

 Iain Daly

 

 

Notes to Editors

 

Velocys is an LSE-listed, international sustainable fuels technology company,
traded on the AIM, providing clients with a technology solution to enable the
production of negative carbon intensity synthetic, drop-in fuels such as SAF,
from a variety of waste materials. SAF ('Sustainable Aviation Fuel') is the
only commercially available, alternative to fossil aviation fuels.

 

Velocys' proprietary catalyst and reactor technologies are IP-protected in all
major jurisdictions.

 

Two reference projects in the US and UK (Bayou Fuels and Altalto) 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.

 

In addition, Velocys technology is enabling the next generation of low carbon
sustainable fuels with significant additional positive air quality impacts.

 

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

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