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People & Business :: Emerging Companies
Velocys acquires Pinto Energy and Ashtabula port GTL project
11:36 AM MDT | June 27, 2014 | Francinia Protti-Alvarez
Velocys (Oxford, UK) has acquired small-scale gas-to-liquids (GTL) developer Pinto Energy (Houston) and the Ashtabula, OH, GTL project that Pinto Energy is developing, Velocys says. The acquisition of Pinto Energy will allow Velocys to stimulate the North America market to adopt its technology early by accelerating the development of "shovel ready" GTL projects, Velocys says. The company has not disclosed the value for the transaction, but, based on the current Pinto Energy share price, the deal is worth £4.6 million ($7.9 million). Velocys will...
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