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The price of shares in AIM-listed Velocys (LON:VLS) has risen by 13.01% to 4.57p (as of 14:00 GMT) after it acquired a site for a UK waste-to-jet fuel project. The renewable fuels firm said that the project, which is a collaboration with Shell and British Airways, has earmarked an 80 acre site in Lincolnshire and expect planning applications to start in 2019.
Final development is subject to future funding, but the company has the option to build on the site within the next three years.