StockMarketWire.com - Sustainable fuels technology company Velocys said it had secured a grant of up to £2.4 million from the UK government for the Altalto project.

The grant from the Department for Transport was made under the Green Fuels, Green Skies competition.

Of the maximum amount, £1.2 million was subject to progress by the government department in developing policy support for sustainable aviation fuels.

Altalto was a collaboration between Velocys and British Airways, with a proposed plant that would convert hundreds of thousands of tonnes per year of residual waste into sustainable fuels, mainly aviation fuel.


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