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Institutional Comment: Daily comment

Underlying
Velocys

Velocys is engaged in designing, developing, marketing and sale of technology for the production of synthetic fuels (and specialty products). ENVIA Energy, LLC is a joint venture, of which Co. is a member, formed to produce renewable fuels and chemicals from landfill gas and natural gas using gas-to-liquids (GTL). Co.'s technology is specifically designed for smaller scale GTL and biomass-to-liquids, combining catalysts with intensified reactor systems. The GTL and BTL processes have three main steps: production of syngas, the Fischer-Tropsch process and subsequent upgrading to produce finished products: high quality diesel, jet fuel and speciality products as well as naphtha.

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Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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