The company behind plans for a green jet fuel plant on the South Humber Bank has launched a £32 million fundraiser, with strong early take-up.
Velocys has secured £12 million from Carbon Direct Capital, a New York-based investment firm focused on climate impact initiatives, with more than £6 million set to flow through a placing of shares and a retail offer to existing shareholders.
CDC has partnered with a number of transformative carbon tech companies across two growth equity funds, with vice chair Nili Gilbert recently named one of the 100 most influential women in US finance. The buy-in comes via unsecured convertible loan notes in the waste-to-fuel Oxford University spin-out, with the deal structured to incentivise a US listing of Velocys, within 21 months of issue. The notes would be switched to shares once then trading.
