Ashurst advises on recommended consortium acquisition of Velocys 

Insight Hero Image

    Global law firm Ashurst is advising on the recommended acquisition of Velocys plc by a consortium comprising Lightrock, Carbon Direct Capital, GenZero and Kibo Investments.

    As part of the acquisition, Carbon Direct Capital has agreed to provide a secured bridging loan to Velocys. In addition, the consortium has agreed to provide up to $40 million of growth capital to Velocys, conditional on completion of the acquisition.

    Velocys is an international sustainable fuels technology company, providing clients with one of the most sustainable routes to the economic production of drop-in SAF from a variety of waste materials.

    Lightrock is a global private equity firm and ‘impact investor’ with a focus on growth capital. Carbon Direct Capital is a global growth investment firm that partners with carbon management technology companies. GenZero is founded by Temasek, a global investment firm incorporated and headquartered in Singapore. Kibo Investments is a Singapore-based private investment office with a focus on climate technology.

    The Ashurst team is being led by corporate partner Harry Thimont, assisted by senior associate Maria McAlister.