* Velocys buys Pinto Energy in United States
* Pinto is developing plant in Ohio
LONDON, June 25 Gas-to-liquid technology
developer Velocys Plc has acquired U.S.-based Pinto
Energy for an undisclosed sum, the British company said on
Velocys develops technology to produce cleaner fuels from
both conventional and renewable sources such as bio-waste.
Due to a surge in natural gas production in the United
States, several firms are turning it into lubricant base oils or
transport fuels through a technology known as gas-to-liquid
Pinto Energy is a small-scale gas-to-liquid developer which
is developing a plant near the port of Ashtabula in Ohio to
convert natural gas from the Marcellus shale region into
solvents, lubricants and low-carbon transport fuels.
The facility will initially have a capacity of 2,800 barrels
per day (bpd), but that could be expanded to 10,000 bpd, Velocys
The acquisition of Pinto Energy is a key stepping stone for
commercial growth, Velocys Chief Executive Roy Lipski said in a
statement. "Our primary mandate remains technology leadership in
smaller scale gas-to-liquids," he added.
(Reporting by Nina Chestney; Editing by David Holmes)