MIDAS SHARE TIPS: Stock of waste-to-jet-fuel company Velocys should rocket
Velocys is another British company with potentially groundbreaking technology. The group has developed a method of turning waste products and natural gas into diesel, jet fuel and speciality chemicals.
Alongside this, Velocys has pioneered a way of incorporating its technology into smallscale gas-to-liquid (GTL) plants that can help waste management firms and shale gas producers convert their products into a more easily manageable fuel.
Originally known as Oxford Catalysts, the group, based in Abingdon, Oxfordshire, was recommended by Midas in September 2008 at 168½p.
On the up: Velocys has seen its share price recover to 228¼p and it could increase much further over the next three to five years
Just days later, the financial crisis erupted and the stock sank.
Having changed its name to Velocys last year, the group has seen its share price recover to 228¼p and it could rise much further during the next three to five years.
In July, chief executive Roy Lipski signed an agreement to start building the first smallscale GTL plant near a landfill site in Oklahoma, America.
A major milestone, the plant should be up and running by 2016 and a second one is expected to begin construction next year in a shale gas region of North Ohio. Many shale gas producers find it hard to sell their gas because it is difficult to transport.
Using Velocys plants could make all the difference for them.
Midas verdict: Velocys has spent years trying to achieve commercial success and is now on the cusp of doing so. Shareholders who bought in 2008 should sit tight. Adventurous new investors could have a punt – especially if they are patient.
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