Tag: PR Newswire

HONG KONG, Feb. 20, 2026 /PRNewswire/ — Reference is made to the announcement of the Issuer dated 5 February 2026 (the “Announcement“) in relation to the invitation by the Issuer to Noteholders to tender for cash any and all of the outstanding Notes (the “Offer“) on the terms and subject to the conditions contained in the Tender Offer Memorandum dated 5 February 2026 (the “Tender Offer Memorandum“). Capitalised terms used but not otherwise defined in this announcement shall have the meaning given to them in the Tender Offer Memorandum and the Announcement, as the case may be.

On 12 February 2026, GLP Pte. Ltd., the parent and controlling shareholder of the Issuer, successfully settled the issuance of additional U.S. dollar-denominated senior notes due 2028 (consolidated and forming a single series with the U.S.$500,000,000 9.75 per cent. Senior Notes due 2028 issued on 20 May 2025) and accordingly the New Financing Condition has been satisfied.

The Offer expired at 5:00 p.m. (New York City time) on 19 February 2026 (the “Expiration Deadline“).

As at the Expiration Deadline, U.S.$456,077,000 in aggregate principal amount of the Notes had been validly tendered pursuant to the Offer. None of the Notes were validly tendered pursuant to the Guaranteed Delivery Procedures. All Notes validly tendered and not validly withdrawn pursuant to the Offer have been accepted for purchase, and will be paid for, by the Issuer.

The Settlement Date in respect of the Offer is expected to be on or around 24 February 2026, when payment of the Purchase Price and Accrued Interest will be made for Notes that had been validly tendered on or before the Expiration Deadline and not validly withdrawn and accepted for purchase by the Issuer.

GENERAL

Full terms and conditions of the Offer are set forth in the Tender Offer Memorandum. The Tender Offer Memorandum and all documents related to the Offer can be found on the Transaction Website, subject to eligibility confirmation and registration: https://projects.sodali.com/glpchina. 

The Issuer has appointed Morgan Stanley Asia Limited to act as Dealer Manager in relation to the Offer, and the Issuer has appointed Sodali & Co Limited to act as the mailto:glpchina@investor.sodali.comTender and Information Agent in relation to the Offer. Noteholders who have questions in relation to the Offer may contact Morgan Stanley Asia Limited (Telephone: +852 2848 5200; Email: asia_gcm_lm@morganstanley.com; Attention: Project Alpha 2026 Deal Team).

Noteholders who have questions in relation to the delivery of Tender Instructions or wish to obtain copies of the documents relating to the Tender Offer may contact Sodali & Co Limited (Email: glpchina@investor.sodali.com; Telephone: +44 204 513 6933 (London) / +852 2319 4130 (Hong Kong) / +1 203 658 9457 (Stamford)).

If any Noteholder is in any doubt as to the contents of the Tender Offer Memorandum or the action it should take or is unsure of the impact of the Offer, it is recommended to seek its own financial and legal advice, including as to any tax consequences, from its stockbroker, bank manager, solicitor, accountant or other independent financial, tax or legal adviser. None of the Issuer, the Dealer Manager or the Tender and Information Agent (or any of their respective directors, officers, employees, agents or affiliates) is providing Noteholders with any financial, legal, business, tax or other advice in the Tender Offer Memorandum.

Hong Kong, 20 February 2026

As at the date of this announcement, the directors of the Issuer are Ming Z. Mei, Teresa Zhuge, Higashi Michihiro, Nicholas Johnson, Mark Tan and Fenglei Fang.

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN OR AT ANY ADDRESS IN, ANY JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

This announcement is for information purposes only and is not an offer to purchase and does not constitute an invitation or solicitation to sell any securities.

This announcement and the Tender Offer Memorandum (as defined herein) do not constitute an invitation to participate in the Offer (as defined herein) in or from any jurisdiction in or from which, or from any person to or from whom, it is unlawful to make such offer under applicable securities laws or otherwise. The distribution of this announcement and the distribution of the Tender Offer Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession this announcement or the Tender Offer Memorandum comes are required by the Issuer and the Dealer Manager (as defined herein), to inform themselves about, and to observe, any such restrictions. No action that would permit a public offer has been or will be taken in any jurisdiction by the Dealer Manager or by the Issuer. Please refer to ”Offer and Distribution Restrictions” in the Tender Offer Memorandum for further details.

 

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SOURCE GLP China Holdings Limited

WOODRIDGE, Ill., Feb. 20, 2026 /PRNewswire/ — Mahoney Environmental marks a significant milestone today, celebrating 73 years of dedicated service to restaurants and food service operations of all sizes. Mahoney Environmental has grown from a local operation in the Chicagoland area to a trusted nationwide leader in used cooking oil collection and recycling, grease trap maintenance, and kitchen oil management solutions.

“73 years is a testament to our unwavering dedication to our customers and the relationships we’ve built in the food service community,” said Dave Kimball, President and CEO of Mahoney Environmental. “From James Mahoney’s vision to today’s advanced automated cooking oil systems, we’ve remained committed to providing dependable service that restaurants can count on day after day.”

Founded in 1953, Mahoney Environmental began as a cooking oil collection service and has expanded its offerings to provide comprehensive solutions for commercial kitchens nationwide. Today, the company specializes in used cooking oil collection and recycling, professional grease trap maintenance and cleaning, state-of-the-art automated used cooking oil equipment, and fresh cooking oil delivery in select markets.

Throughout its history, Mahoney Environmental has been a reliable partner to thousands of restaurants, helping them maintain clean, compliant kitchens while contributing to environmental sustainability through responsible oil recycling. The company’s commitment to prompt service, professional technicians, and innovative equipment solutions has earned long-standing loyalty from customers across the country.

Looking forward, the company remains focused on serving the evolving needs of the food service industry with innovative solutions and the same dependable service that has defined Mahoney Environmental for over seven decades. “Our customers are the heart of our business,” added Dave Kimball. “We’re honored to serve them and look forward to many more years of partnership.”

About Mahoney Environmental

Founded in 1953, Mahoney Environmental helps food service companies transform used cooking oil and other waste products. They manage the entire used cooking oil collection and recycling process from equipment installation to processing and finished product delivery, enabling nearly 100% material recovery at all facilities.

Mahoney serves food service operators nationwide, from major restaurant chains to independent establishments and airport concessions. In 2020, Neste (HEL: NESTE) acquired Mahoney Environmental, strengthening the global supply chain for sustainable aviation fuel and renewable diesel production.

Finally, Mahoney is a licensed EPA and ISCC Certified recycler committed to being the premier back-of-house service provider for the food service industry. While striving to create a safer planet for future generations. 

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SOURCE Mahoney Environmental

WOODRIDGE, Ill., Feb. 20, 2026 /PRNewswire/ — Mahoney Environmental marks a significant milestone today, celebrating 73 years of dedicated service to restaurants and food service operations of all sizes. Mahoney Environmental has grown from a local operation in the Chicagoland area to a trusted nationwide leader in used cooking oil collection and recycling, grease trap maintenance, and kitchen oil management solutions.

“73 years is a testament to our unwavering dedication to our customers and the relationships we’ve built in the food service community,” said Dave Kimball, President and CEO of Mahoney Environmental. “From James Mahoney’s vision to today’s advanced automated cooking oil systems, we’ve remained committed to providing dependable service that restaurants can count on day after day.”

Founded in 1953, Mahoney Environmental began as a cooking oil collection service and has expanded its offerings to provide comprehensive solutions for commercial kitchens nationwide. Today, the company specializes in used cooking oil collection and recycling, professional grease trap maintenance and cleaning, state-of-the-art automated used cooking oil equipment, and fresh cooking oil delivery in select markets.

Throughout its history, Mahoney Environmental has been a reliable partner to thousands of restaurants, helping them maintain clean, compliant kitchens while contributing to environmental sustainability through responsible oil recycling. The company’s commitment to prompt service, professional technicians, and innovative equipment solutions has earned long-standing loyalty from customers across the country.

Looking forward, the company remains focused on serving the evolving needs of the food service industry with innovative solutions and the same dependable service that has defined Mahoney Environmental for over seven decades. “Our customers are the heart of our business,” added Dave Kimball. “We’re honored to serve them and look forward to many more years of partnership.”

About Mahoney Environmental

Founded in 1953, Mahoney Environmental helps food service companies transform used cooking oil and other waste products. They manage the entire used cooking oil collection and recycling process from equipment installation to processing and finished product delivery, enabling nearly 100% material recovery at all facilities.

Mahoney serves food service operators nationwide, from major restaurant chains to independent establishments and airport concessions. In 2020, Neste (HEL: NESTE) acquired Mahoney Environmental, strengthening the global supply chain for sustainable aviation fuel and renewable diesel production.

Finally, Mahoney is a licensed EPA and ISCC Certified recycler committed to being the premier back-of-house service provider for the food service industry. While striving to create a safer planet for future generations. 

View original content to download multimedia:https://www.prnewswire.com/news-releases/mahoney-environmental-celebrates-73-years-of-service-to-the-food-service-industry-302688073.html

SOURCE Mahoney Environmental

MEXICO CITY, Feb. 19, 2026 /PRNewswire/ — FIBRA Prologis (BMV: FIBRAPL 14), one of the leading owners and operators of Class A industrial real estate in Mexico, announces that on February 18, 2026, Terrafina (“TERRA“) (BMV: TERRA13), a subsidiary trust of Fibra Prologis, received from the National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores, the “CNBV“) the official notice authorizing the cancellation of the registration of the real estate trust certificates (certificados bursátiles fiduciarios inmobiliarios) issued by Terrafina (the “CBFIs“) in the National Securities Registry (Registro Nacional de Valores, the “RNV“). Such authorization was granted in accordance with the resolutions adopted by Terrafina’s CBFI holders’ meeting held on December 1, 2025, at which its holders approved, among other matters, the cancellation of the registration of Terrafina’s CBFIs in the RNV.

As a result of such authorization Terrafina has carried out the process of delisting its CBFIs from the Mexican Stock Exchange (Bolsa Mexicana de Valores, S.A.B. de C.V.) (the “BMV“), and therefore, Terrafina’s CBFIs have ceased to be listed and traded on such stock exchange.

In this respect, Fibra Prologis hereby informs the public that, following the disclosure made in the last tender offer for the acquisition of Terrafina’s CBFIs made by Fibra Prologis and which concluded on November 12, 2025 (the “Tender Offer”), on February 16, 2026 Fibra Prologis incorporated a payment trust to which it contributed the necessary cash so that the holders of Terrafina’s CBFIs who have not attended the Tender Offer and have the intention to do so, may sell, for a period of six months, and at the same price as in the Tender Offer (i.e. MXN$42.5 pesos per CBFI), the Terrafina’s CBFIs that have not yet been acquired by Fibra Prologis.

The investing public is hereby informed that any additional information related to this process may be consulted through Terrafina’s official communication channels.

FIBRA PROLOGIS PROFILE

FIBRA Prologis is a leading owner and operator of Class A industrial real estate in Mexico. As of September 30, 2025, the company’s portfolio consisted of 515 investment properties totaling 87.0 million square feet (8.1 million square meters). This includes 348 logistics and manufacturing facilities located in the six primary industrial markets in Mexico, comprising 65.7 million square feet (6.1 million square meters) of Gross Leasable Area (GLA), as well as 167 buildings totaling 21.3 million square feet (2.0 million square meters) of non-strategic assets in other markets.

FORWARD-LOOKING STATEMENTS

The statements contained in this release that are not historical facts are forward-looking statements. These statements are based on current expectations, estimates and projections about the industry and the markets in which FIBRA Prologis operates, as well as on management’s beliefs and assumptions. Such statements involve uncertainties that could materially affect FIBRA Prologis’ financial results. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” and variations of such words, as well as similar expressions, are intended to identify such forward-looking statements, which are generally not historical in nature. All statements that refer to operating performance, events or developments that are expected or anticipated to occur in the future are forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Although we believe that the expectations reflected in the forward-looking statements are based on reasonable assumptions, we cannot assure that such expectations will be achieved. Accordingly, actual results and outcomes may differ materially from those expressed or implied in such forward-looking statements. Some of the factors that may affect results include, among others: (i) national, international, regional and local economic conditions; (ii) changes in financial markets, interest rates and foreign exchange rates; (iii) increased (anticipated or unanticipated) competition for our properties; (iv) risks associated with property acquisitions, dispositions and development; (v) maintenance of our real estate investment trust (“FIBRA“) status and related tax structure; (vi) availability of financing and capital, debt levels and credit ratings; (vii) risks related to our investments; (viii) environmental uncertainties, including risks of natural disasters; and (ix) the additional factors described in the reports filed by FIBRA Prologis with the CNBV and the BMV under the section entitled “Risk Factors.” FIBRA Prologis undertakes no obligation to update any forward-looking statements contained in this release. Neither the CNBV nor any other authority has approved or disapproved the contents of this document or the accuracy, completeness or sufficiency of the information contained herein.

 

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SOURCE FIBRA Prologis

Ranked as a Leading Seller to Corporations for the Fifth Consecutive Year

ARLINGTON, Va., Feb. 19, 2026 /PRNewswire/ — The AES Corporation (NYSE: AES) has been ranked as the top seller of clean energy to corporations in the United States and the Americas in 2025, according to BloombergNEF’s (BNEF) Corporate Energy Market Outlook. This marks the fifth consecutive year AES has been a top provider in the rankings, which track the volume of corporate Power Purchase Agreement (PPA) signings.

BNEF’s ranking reflects AES’ position as one of the largest energy providers to technology companies globally, including Google, which ranked as AES’ top corporate buyer in 2025.

“We are seeing surging demand for clean energy from the corporate sector, driven in large part by AI data center development and advanced manufacturing,” said Andrés Gluski, AES President and CEO. “This recognition reflects the strength of our long‑standing partnerships with leading corporations and our ability to deliver clean energy solutions reliably and at the speed our customers require.”

AES has continually grown its business with corporate customers.  Today, PPAs with corporate customers represent nearly two-thirds of AES’ backlog, and approximately 85% of the long-term contracts for renewables that AES signed in 2025 were with corporate customers, excluding energy storage.

About BloombergNEF

(BNEF) is a strategic research provider covering global commodity markets and the disruptive technologies driving the transition to a low-carbon economy.

About AES

The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy.  Together with our many stakeholders, we’re improving lives by delivering the greener, smarter energy solutions the world needs.  Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today.  For more information, visit www.aes.com.

Safe Harbor Disclosure

This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, those related to future earnings, growth and financial and operating performance. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES’ current expectations based on reasonable assumptions. Forecasted financial information is based on certain material assumptions. These assumptions include, but are not limited to, our expectations regarding accurate projections of future interest rates, commodity price and foreign currency pricing, continued normal levels of operating performance and electricity volume at our distribution companies and operational performance at our generation businesses consistent with historical levels, as well as the execution of PPAs, conversion of our backlog and growth investments at normalized investment levels, and rates of return consistent with prior experience.

Actual results could differ materially from those projected in our forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in AES’ filings with the Securities and Exchange Commission (the “SEC”), including, but not limited to, the risks discussed under Item 1A: “Risk Factors” and Item 7: “Management’s Discussion & Analysis” in AES’ 2024 Annual Report on Form 10-K and in subsequent reports filed with the SEC. Readers are encouraged to read AES’ filings to learn more about the risk factors associated with AES’ business. AES undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except where required by law.

Any Stockholder who desires a copy of the Company’s 2024 Annual Report on Form 10-K filed March 11, 2025 with the SEC may obtain a copy (excluding the exhibits thereto) without charge by addressing a request to the Office of the Corporate Secretary, The AES Corporation, 4300 Wilson Boulevard, Arlington, Virginia 22203. Exhibits also may be requested, but a charge equal to the reproduction cost thereof will be made. A copy of the Annual Report on Form 10-K may be obtained by visiting the Company’s website at www.aes.com.

Website Disclosure

AES uses its website, including its quarterly updates, as channels of distribution of Company information.  The information AES posts through these channels may be deemed material.  Accordingly, investors should monitor our website, in addition to following AES’ press releases, quarterly SEC filings and public conference calls and webcasts.  In addition, you may automatically receive e-mail alerts and other information about AES when you enroll your e-mail address by visiting the “Subscribe to Alerts” page of AES’ Investors website.  The contents of AES’ website, including its quarterly updates, are not, however, incorporated by reference into this release.

Investor Relations: Susan Harcourt, 703-682-1204, susan.harcourt@aes.com  
Media Contact: Katie Lau, 571-286-9362, katie.lau@aes.com

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SOURCE The AES Corporation

WASHINGTON, Feb. 19, 2026 /PRNewswire/ — Paralyzed Veterans of America Chief Executive Officer Carl Blake released the following statement in response to the Department of Veterans Affairs’ (VA) decision to pause enforcement of its recent interim final rule impacting veterans’ disability ratings.

“Paralyzed Veterans of America applauds VA’s decision to halt enforcement of the interim final rule, which would have based ratings decisions on the health of the veteran with the aid of medication. The nearly universal negative response from veterans shows that the VA did not fully consider the potentially harmful impacts of this decision. We look forward to working with Secretary Collins and his leadership team to better understand their goals and to find ways to address their concerns while ensuring veterans’ well-being remains the top priority.”

About Paralyzed Veterans of America
Paralyzed Veterans of America is a 501(c)(3) non-profit and the only congressionally chartered veterans service organization dedicated solely for the benefit and representation of veterans with spinal cord injury or diseases. The organization ensures veterans receive the benefits earned through service to our nation; monitors their care in VA spinal cord injury units; and funds research and education in the search for a cure and improved care for individuals with paralysis.

As a life-long partner and advocate for veterans and all people with disabilities, PVA also develops training and career services, works to ensure accessibility in public buildings and spaces, and provides health and rehabilitation opportunities through sports and recreation. With more than 70 offices and 33 chapters, Paralyzed Veterans of America serves veterans, their families, and their caregivers in all 50 states, the District of Columbia, and Puerto Rico. Learn more at PVA.org.

Contact: Kristina Packard
(703) 282-8121 cell
KristinaP@PVA.org

View original content to download multimedia:https://www.prnewswire.com/news-releases/paralyzed-veterans-of-america-issues-statement-in-response-to-department-of-veterans-affairs-decision-to-halt-enforcement-of-recent-interim-rule-302693092.html

SOURCE Paralyzed Veterans of America

WASHINGTON, Feb. 19, 2026 /PRNewswire/ — Paralyzed Veterans of America Chief Executive Officer Carl Blake released the following statement in response to the Department of Veterans Affairs’ (VA) decision to pause enforcement of its recent interim final rule impacting veterans’ disability ratings.

“Paralyzed Veterans of America applauds VA’s decision to halt enforcement of the interim final rule, which would have based ratings decisions on the health of the veteran with the aid of medication. The nearly universal negative response from veterans shows that the VA did not fully consider the potentially harmful impacts of this decision. We look forward to working with Secretary Collins and his leadership team to better understand their goals and to find ways to address their concerns while ensuring veterans’ well-being remains the top priority.”

About Paralyzed Veterans of America
Paralyzed Veterans of America is a 501(c)(3) non-profit and the only congressionally chartered veterans service organization dedicated solely for the benefit and representation of veterans with spinal cord injury or diseases. The organization ensures veterans receive the benefits earned through service to our nation; monitors their care in VA spinal cord injury units; and funds research and education in the search for a cure and improved care for individuals with paralysis.

As a life-long partner and advocate for veterans and all people with disabilities, PVA also develops training and career services, works to ensure accessibility in public buildings and spaces, and provides health and rehabilitation opportunities through sports and recreation. With more than 70 offices and 33 chapters, Paralyzed Veterans of America serves veterans, their families, and their caregivers in all 50 states, the District of Columbia, and Puerto Rico. Learn more at PVA.org.

Contact: Kristina Packard
(703) 282-8121 cell
KristinaP@PVA.org

View original content to download multimedia:https://www.prnewswire.com/news-releases/paralyzed-veterans-of-america-issues-statement-in-response-to-department-of-veterans-affairs-decision-to-halt-enforcement-of-recent-interim-rule-302693092.html

SOURCE Paralyzed Veterans of America

WASHINGTON, Feb. 19, 2026 /PRNewswire/ — Paralyzed Veterans of America Chief Executive Officer Carl Blake released the following statement in response to the Department of Veterans Affairs’ (VA) decision to pause enforcement of its recent interim final rule impacting veterans’ disability ratings.

“Paralyzed Veterans of America applauds VA’s decision to halt enforcement of the interim final rule, which would have based ratings decisions on the health of the veteran with the aid of medication. The nearly universal negative response from veterans shows that the VA did not fully consider the potentially harmful impacts of this decision. We look forward to working with Secretary Collins and his leadership team to better understand their goals and to find ways to address their concerns while ensuring veterans’ well-being remains the top priority.”

About Paralyzed Veterans of America
Paralyzed Veterans of America is a 501(c)(3) non-profit and the only congressionally chartered veterans service organization dedicated solely for the benefit and representation of veterans with spinal cord injury or diseases. The organization ensures veterans receive the benefits earned through service to our nation; monitors their care in VA spinal cord injury units; and funds research and education in the search for a cure and improved care for individuals with paralysis.

As a life-long partner and advocate for veterans and all people with disabilities, PVA also develops training and career services, works to ensure accessibility in public buildings and spaces, and provides health and rehabilitation opportunities through sports and recreation. With more than 70 offices and 33 chapters, Paralyzed Veterans of America serves veterans, their families, and their caregivers in all 50 states, the District of Columbia, and Puerto Rico. Learn more at PVA.org.

Contact: Kristina Packard
(703) 282-8121 cell
KristinaP@PVA.org

View original content to download multimedia:https://www.prnewswire.com/news-releases/paralyzed-veterans-of-america-issues-statement-in-response-to-department-of-veterans-affairs-decision-to-halt-enforcement-of-recent-interim-rule-302693092.html

SOURCE Paralyzed Veterans of America

WASHINGTON, Feb. 19, 2026 /PRNewswire/ — Paralyzed Veterans of America Chief Executive Officer Carl Blake released the following statement in response to the Department of Veterans Affairs’ (VA) decision to pause enforcement of its recent interim final rule impacting veterans’ disability ratings.

“Paralyzed Veterans of America applauds VA’s decision to halt enforcement of the interim final rule, which would have based ratings decisions on the health of the veteran with the aid of medication. The nearly universal negative response from veterans shows that the VA did not fully consider the potentially harmful impacts of this decision. We look forward to working with Secretary Collins and his leadership team to better understand their goals and to find ways to address their concerns while ensuring veterans’ well-being remains the top priority.”

About Paralyzed Veterans of America
Paralyzed Veterans of America is a 501(c)(3) non-profit and the only congressionally chartered veterans service organization dedicated solely for the benefit and representation of veterans with spinal cord injury or diseases. The organization ensures veterans receive the benefits earned through service to our nation; monitors their care in VA spinal cord injury units; and funds research and education in the search for a cure and improved care for individuals with paralysis.

As a life-long partner and advocate for veterans and all people with disabilities, PVA also develops training and career services, works to ensure accessibility in public buildings and spaces, and provides health and rehabilitation opportunities through sports and recreation. With more than 70 offices and 33 chapters, Paralyzed Veterans of America serves veterans, their families, and their caregivers in all 50 states, the District of Columbia, and Puerto Rico. Learn more at PVA.org.

Contact: Kristina Packard
(703) 282-8121 cell
KristinaP@PVA.org

View original content to download multimedia:https://www.prnewswire.com/news-releases/paralyzed-veterans-of-america-issues-statement-in-response-to-department-of-veterans-affairs-decision-to-halt-enforcement-of-recent-interim-rule-302693092.html

SOURCE Paralyzed Veterans of America

HOUSTON and OXFORD, England, Feb. 19, 2026 /PRNewswire/ — Velocys today announced that it has implemented manufacturing and delivery efficiencies that reduce total investment cost for its microFTL™ technology by more than 30 percent. The efficiencies were confirmed during design and engineering work conducted for two advanced Fischer–Tropsch (FT) Sustainable Aviation Fuel (SAF) projects: Altalto in the UK and NovaSAF™ 1 in Uruguay.

As SAF mandates expand globally, developers and investors are increasingly focused on one central challenge: cost. While policy incentives and offtake frameworks are crucial, long-term SAF scale-up depends on materially lowering the capital required to build and operate commercial facilities.

In response to these market signals, Velocys re-examined its FT technology offering across both projects, working closely with strategic manufacturing partners to streamline reactor fabrication, standardisation, and delivery. The resulting design and execution optimisations have driven step-change reductions in total installed cost without compromising performance, operability, or technology readiness.

In the UK, the Altalto waste-to-SAF project is nearing the front-end engineering and design (FEED) phase, supported by prior funding from the UK Department for Transport’s Advanced Fuels Fund. The project’s capacity has been reassessed, resulting in significant overall CAPEX reduction. Shifting to an execution strategy that optimises stick‑built and modular construction, while also updating the technology stack, reduced project risks and cut previous cost estimates for Velocys’ proprietary technology by 30 percent. These enhancements materially improve the project’s economic positioning as it moves toward a final investment decision.

In parallel, NovaSAF 1, a biogas-to-SAF project being developed by Syzygy Plasmonics, will also benefit from the updated FT configuration. Through in-depth collaboration, Velocys identified an opportunity to better align its offering with the client’s prioritisation of speed, efficiency, and cost control. The design was modularised and streamlined to focus on process-critical requirements, removing unnecessary features and replacing customised elements with proven, standardised components. This resulted in a 50 percent reduction in CAPEX compared to the original design. The project recently reached a major commercial milestone with a long-term offtake agreement signed with Trafigura, and is moving closer to final investment decision.

These projects demonstrate how FT-based SAF pathways can meet the dual challenge facing aviation decarbonisation: achieving meaningful lifecycle carbon reductions while delivering economics that are viable at commercial scale.

“Across the SAF market, the message from developers and investors has been consistent,” said Mathew Viergutz, CEO of Velocys. “Capital efficiency matters. We are listening. By standardising how our FT technology is manufactured and delivered, and by working closely with experienced industrial partners, we have unlocked substantial cost reductions that materially improve project viability. The progress at Altalto and NovaSAF 1 shows that FT SAF is not only technically proven, but increasingly investable.”

Velocys continues to apply these manufacturing and delivery efficiencies across its broader project pipeline, reinforcing its role as a long-term technology partner focused on enabling commercially scalable SAF production.

About Velocys
Velocys is a leading technology innovator in the production of sustainable aviation fuel and other low-carbon fuels through its proprietary Fischer-Tropsch process. Its microFTL™ microchannel reactor technology enables efficient, modular production that can be deployed globally. Learn more at www.velocys.com.

microFTL™ is a trademark of Velocys.
NovaSAF™ is a trademark of Syzygy Plasmonics

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SOURCE Velocys