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Velocys
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Short description

Developer of catalyst technology for the petroleum refining and petrochemical industry, selected areas of the fuel cell industry, and the processing of waste biogas

Founded in 2004
Founded in

Company type Acquired Public ()
Company type

Industry Group materials & chemicals

Sector fuels & chemicals

TRL Range 9
TRL 1 Basic research
TRL 2 Technology formulation
TRL 3 Applied research
TRL 4 Small scale prototype
TRL 5 Large scale prototype
TRL 6 Prototype system
TRL 7 Demonstration system
TRL 8 First of a kind commercial system
TRL 9 Full commercial application
TRL Range

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Headquarters United Kingdom Oxford, United Kingdom
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Updated by Cleantech Group on 04/15/2024

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  • 1 M&A items
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Date Company
09/19/2019

Toyo Engineering Toyo Engineering

Velocys has secured a purchase order and technical service agreements with Toyo Engineering Corporation for the use of Velocys technology in a publicly funded demonstration facility ($0.5 million) in Nagoya, Japan, as well as an advance deposit ($4 million) for the use of the Velocys technology by Toyo in a subsequent commercial plant.

Confirmed by Toyo Engineering
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Date Partner Type
10/10/2019
Oxy Low Carbon Ventures Oxy Low Carbon Ventures
Velocys has signed an agreement with Oxy Low Carbon Ventures, LLC (OLCV), to capture carbon dioxide from Velocys’ planned Bayou Fuels biomass-to-fuels project in Mississippi, and securely store it underground in a geologic formation. OLCV will take, transport and store CO2 captured from the Bayou Fuels facility, when it is completed.
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Confirmed by Oxy Low Carbon Ventures
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IPO INFORMATION

Date

04/26/2006

IPO status

Withdrawn

IPO Type

IPO

Amount

$27.73M

Initial shares

8620690

Ticker symbol

Exchange listed

AIM

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Description

Velosys has withdrawn its IPO as part of a $40M deal (2024) that took it private after facing insolvency in 2023.

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Date Investors Type Amount
02/12/2024 Madison Bidco Madison Bidco , Carbon Direct Carbon Direct , Lightrock Lightrock , GenZero GenZero , Kibo Ventures Kibo Ventures (5)
Post-money valuation of
Funding will be used to deliver Fischer-Tropsch technology which allows for production of sustainable aviation fuel (SAF) from a variety of feedstocks. Madison Bidco will acquire Velosys, who withdrew its IPO after facing insolvency in 2023.
 Growth Equity $40,292,600
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