- Velocys has signed a memorandum of understanding with ThermoChem Recovery International Inc (TRI), establishing a strategic alliance.

Under the MoU, TRI would be Velocys' preferred supplier of gasification systems for its biomass-to-liquids (BTL) plants.

The agreement would see the alliance partners rapidly deploy an integrated biorefinery offering that combined Velocys' Fischer-Tropsch (FT) technology with TRI's proven gasification technology.

TRI is a leading provider of steam reforming gasification systems suitable for woody biomass and other waste feedstocks.

At 9:35am: [LON:VLS] Velocys share price was +3.75p at 68.75p

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