Velocys and Bechtel Partner on SAF Project Delivery Solution for Global Markets
Velocys PLC
Velocys plc, a sustainable fuels technology company, has signed a master relationship agreement (MRA) with Bechtel Limited, a leading engineering company. The MRA outlines a plan for the two companies to develop an EPC (engineering, procurement, and construction) execution model for Velocys' sustainable fuels projects.
The collaboration between Velocys and Bechtel will initially focus on Velocys' three main projects: the Altalto Project in Immingham, UK, the Bayou Fuels Project in the US, and the recently announced e-Alto power-to-liquids project in the UK.
However, the MRA also applies to other third-party projects that either company may introduce. Bechtel is also helping Velocys build its portfolio of sustainable aviation fuel (SAF) projects by providing front-end project engineering and other technical services.
Bechtel is set to begin work on delivering the Front-End Engineering and Design phase (FEED) of the Altalto Project following the recent UK government grant funding of up to £27 million awarded to Velocys.
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. Bechtel is one of the world’s most respected engineering companies. Working with Bechtel will give added value to current and future clients for successful project delivery.”
President Bechtel Energy, Paul Marsden 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.”
Source: Velocys
