London – Mayer Brown has advised Velocys, the sustainable fuels technology company, on an equity fundraise of £20 million.
The placing comes just one week after Grant Shapps, the UK Secretary of State for Transport, announced government backing for Velocys and its waste-to-jet fuel Altalto plant — a joint development with British Airways and Shell. The facility will process commercial and household waste that would otherwise go to landfill and convert it to into aviation fuel.
Mayer Brown has a long-standing relationship with Velocys and this transaction is the latest of many placings to fund the company's ongoing technological developments and projects in the sustainable fuel industry.
The all London Mayer Brown team was led by Corporate & Securities partners Rob Hamill and Rebecca Bothamley and included Corporate & Securities senior associate Harriet Hainsworth.