Energy

Southwest and British Airways deals send Velocys shares surging

0


pic4you | E+ | Getty Images

Shares of London-listed fuels technology firm Velocys rose by more than 40% on Wednesday after it announced two deals related to the supply of aviation fuel.

In a statement, the company said its subsidiary, Velocys Renewables, had entered into an agreement with Southwest Airlines.

The deal relates to a planned biorefinery in Mississippi, with Southwest set to buy an expected 219 million gallons of sustainable aviation fuel at a fixed price across a period of 15 years.

“After blending, this will enable approximately 575 million gallons of net zero SAF,” Velocys said. The Bayou Fuels biorefinery is slated to start commercial delivery of fuel “as early as 2026.”

In…



Source cnbc.com

0 0 votes
Article Rating

Macy’s CEO, department store veteran, fights the Amazon future

Previous article

Xpeng shares spike as the Chinese EV maker teases new SUV

Next article

You may also like

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in Energy