IHS Chemical Week

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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Comments (1) for Velocys acquires Pinto Energy and Ashtabula port GTL project
Excellent opportunity for Velocys to generate recurring revenues and to have USA reference plant to support their technology licensing business.... Retired VP Chemical Technology Commercialization battelle
Posted by Steven Cohen MD Cent on Sunday, June 29, 2014 @ 08:42 PM

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