Shares in AIM-listed sustainable fuel firm Velocys (LON:VLS) climbed by 2.90% to 5.15p (as of 16:30 BST) after the firm received a further grant from the Department for Transport to support its Altato waste-fuel project. The firm’s site in Immingham is planned to convert residual waste products in to aviation fuel.
CEO Henrik Wareborn commented: “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 UK, 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“.