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UK, US firms sign GTL manufacturing partnership

1:38 PM MDT | March 11, 2014 | Francinia Protti-Alvarez

Velocys (Oxford, UK), a developer and supplier of smaller-scale gas-to-liquids (GTL) technology, announced a new manufacturing partnership with and share-purchase by Shiloh Industries (Valley City, OH). Alongside the partnership commitment, Shiloh has subscribed for 601,326 new ordinary shares in Velocys at a price of £2/share ($3.34), representing a 32% premium to the closing mid-market share price on 10 March, Velocys says. Velocys and Shiloh have agreed to work together to improve Velocys's Fischer-Tropsch (FT) reactors and, over time, to enhance the...

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