Developers behind the green jet fuel refinery proposed for the South Humber Bank have been awarded £500,000 of government funding.
The grant from the Department of Transport follows the recent planning consent achieved by Velocys for the Altalto waste-to-fuel plant at Stallingborough, between Grimsby and Immingham. The official formal notice was also received on Friday, June 12.
Backed by British Airways and Shell, it will convert hundreds of thousands of tonnes of domestic ‘black bin bag’ waste into jet fuel.
And the award, from the Future Fuels for Flight and Freight Competition, opens up a further opportunity subject to the completion of further milestones.
It had already received £400,000 at stage one in 2018. This is the first part of stage two, with Velocys one of the two remaining companies expected to receive the balance.
Henrik Wareborn, Velocys chief executive, said: “We are very pleased to have the continued support of the Department for Transport for this project.
“The Altalto project is a key step towards a substantial supply of sustainable aviation fuel in the 海角视频, which is essential for meeting net zero carbon targets.
“This grant, particularly at the present time, underlines the importance of our project to the Government’s plans for a green recovery.”
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After North East Lincolnshire Council granted approval for the huge plant last month, Mr Wareborn underlined the need for government support, with colleague Dr Neville Hargreaves also outlining key instruments that could make the industry more attractive to the financial markets.
Scalable, and attracted by the existing refinery presence and skills in the region, the project could see up to £500 million invested on the South Humber Bank. It could also tap into carbon capture use and storage proposals for the region.
Velocys is an Oxford University spin-out fused with a US company, bringing complementary proprietary technology together.