Velocys Plc Overview
Velocys Plc is engaged in designing and developing technology for the production of synthetic oil from both conventional fossil fuels and renewable sources, such as bio-waste. It also offers gas-to-liquids solutions. It was formerly known as Oxford Catalysts Group PLC, which was changed to Velocys Plc., in September 2013.
The company primarily deals in synthetic fuels. The synthetic fuels segment represents over 90% of the business, and the remaining 10% does not constitute a segment and is related to other end markets. The company operates in Houston, Texas, Oxford, UK, and Columbus, Ohio. Velocys, Inc., Oxford Catalysts Limited, and Velocys Project Solutions, LLC, are some of the subsidiaries of the company. The company operates across the Americas and Asia-Pacific.
Strategy
Velocys Plc., a provider of technology for smaller scale gas-to-liquids (GTL), is working on a new strategy, under which it will focus on building plants that convert woody biomass to high-specification renewable diesel and jet fuel. The company focuses on achieving organic growth and expanding into emerging markets. It strategizes to invest in expansion into other countries to achieve operational efficiency.
