Velocys Appoints Matthew Viergutz as CEO
- Velocys went private in January 2024 with over $40MM from investors.
- Matthew Viergutz has 25+ years in process licensing.
- Velocys' technology supports sustainable aviation fuel projects.
- Feedstocks include municipal waste, biomass, CO2, and green hydrogen.
Leadership Change
Matthew Viergutz has been appointed as the new CEO of Velocys, succeeding Henrik Wareborn. Viergutz brings over 25 years of experience in process licensing, having held roles at Monsanto, MECS Inc., DuPont, and Sulzer. He also led Butamax Advanced Biofuels, a joint venture between DuPont and BP.
Company Transition
In January 2024, Velocys transitioned to a private company with an investment of over $40 million from a consortium of growth and climate investors, including Carbon Direct Capital, GenZero, and Lightrock. This move marks a new chapter for Velocys as a growth-focused entity.
Technological Focus
Velocys specializes in Fischer-Tropsch technology, offering a patented catalyst and micro-channel reactor platform. This technology is designed for scalability and flexibility, particularly in projects producing sustainable aviation fuel. It is compatible with various feedstocks, such as municipal solid waste, woody biomass, CO2, and green hydrogen.
Market Outlook
The demand for sustainable aviation fuel and the technologies supporting its production is increasing. Velocys aims to accelerate the deployment of its technology to meet this growing demand and contribute to reducing greenhouse gas emissions globally.
Source: Velocys