Mikemine
05 Sep 2018
Where are ENVIA's D7 RINs? I emailed VLS last week regarding the missing RINs. No clarification was given but they did say we would be given an update on the leak in the interims later this month or maybe before. So 3 weeks or so max.
Mikemine
04 Sep 2018
OZ energy Sorry wrong bb.
Mikemine
04 Sep 2018
OZ energy Scott has made much of the initiatives happening, or potentially happening, in Australia. There’s going to be a big shake up in the energy industry with a bigger role for coal and gas no doubt if Angus Taylor, the new energy minister, gets his way. He favours solar over wind but solar will have to up it’s game as subsidies reduce. One of the ways it might do this will be the use of RED’s machines IMHO. No wonder Scott sounds excited when he talks of the opportunities in OZ. Listen to this and read between the lines. This guy is impressive and talks sense. Wish we had someone like him in this country especially when dealing with the EU.
spannermonkey
31 Aug 2018
Where are ENVIA's D7 RINs? At reduced available capacity, it’ll be much easier to run on nat gas only, rather than trying to blend in smaller amounts of renewable gas for the sake of a few D7’s. At this stage in the game, its about running the equipment and ensuring durability. This is of paramount importance to Velocys as a whole. I just hope we get this fixed as there are other small scale FT technology providers in the market coming up with game changing stuff…
JAMMY
31 Aug 2018
Where are ENVIA's D7 RINs? Using natural gas is indeed a possible reason, but running at half capacity is not…unless IM explains why.
theprior
31 Aug 2018
Where are ENVIA's D7 RINs? Jammy, maybe Spannermonkey’s reply above answers your question. TP
investmaster
31 Aug 2018
Where are ENVIA's D7 RINs? I stand by my comment but will not be able to add to this at this time. I look forward to our new partners being announced.
JAMMY
30 Aug 2018
Where are ENVIA's D7 RINs? IM: Could explain why ENVIA cannot produce D7 RINs when running at half capacity? This does not affect the pathway.
investmaster
30 Aug 2018
Where are ENVIA's D7 RINs? Regarding RINs The lifecycle of a RIN is managed by the EPA Moderated Transaction System (EMTS) which is a database of record for all transactions involving RINs. Whilst no company data is public record, the summary RIN production data is public record. If no RINs are recorded it would suggest that no RINs in that category were produced; fuels from facilities in the categories could have been produced but not under the pathway requirements. Note that ENVIA has been operational on one FT reactor since the minor leak incident and under these conditions the plant cannot generate RIN credits. D7 RINS are highly valuable but currently extremely scarce in the market and that is why Velocys strategy to produce them has significant strategic cachet for potential future strategic partner/s.
Donatron
30 Aug 2018
Where are ENVIA's D7 RINs? Either way, you can see why ENVIA needed working capital funding! Without RINs and on (at best) 50% production, the economics aren’t great. It makes me wonder why they suggest that the plant would have begun to break-even in Q2 were in not for the leak?
spannermonkey
30 Aug 2018
Where are ENVIA's D7 RINs? They have probably gone to 100% fossil gas, which is obviously not eligible.
JAMMY
30 Aug 2018
Where are ENVIA's D7 RINs? Well done, Donatron. ENVIA is indeed the sole source of D7 RINs, so we can for the moment follow the movement of the ENVIA products. It is indeed remarkable that since the leak was announced in May, no D7 RINs were produced.
Donatron
30 Aug 2018
Where are ENVIA's D7 RINs? Hi Jammy, top bit of research that. Doing a bit of digging to find the underlying data, you can see the monthly figures here: US EPA – 27 Sep 15 Spreadsheet of RIN Generation Data for the Renewable Fuel Standard | US EPA RIN generation data from the Renewable Fuel Standard I’ve then gone through and made a spreadsheet showing the D7 RINs produced month by month in 2018 (see below). There were none in Jan or Feb, then a few in March (which tallies with the 15 March RNS to say that the RINs were verified). There were then a handful in April and none since then. I wonder if this is somehow linked to the leak, i.e. they are no longer running the plant in the correct way to produce products that qualify for RINs? Month Domestic D7 RINs produced Jan-18 0 Feb-18 0 Mar-18 7,296 Apr-18 3,960 May-18 0 Jun-18 0 Jul-18 0 Let’s keep an eye on this going forward, because I am fairly sure VLS are the only company in America that generate D7 RINs domestically and thus we now have a proxy (once the plant is back up and running) for their monthly production data.
JAMMY
29 Aug 2018
Where are ENVIA's D7 RINs? From Biomass Magazine of August 23: "The U.S. EPA has released renewable identification number (RIN) generation data for July, reporting that nearly 1.71 billion RINs were generated during the month, including more than 26.35 million cellulosic RINs…but… "No D7 cellulosic diesel RINs were generated in July. " According to Velocys’ March 15 news release ENVIA is “expected to generate around 100,000 D7 RINs per month under the approved pathway.†Even with running at 50% capacity because of the outage of one of the reactor assemblies, ENVIA should produce 50,000 D7 RINs. What is happening? Is the plant down?
Mikemine
25 Aug 2018
ENVIA Insurance and impact on Velocys Thanks Jammy. Lets hope they are quicker than your forecast. It really is holding the SP back IMHO.
