Velocys announced that it has jointly agreed to extend the current option agreement with British Airways for the Altalto project to 31st March 2022. Exercise of the option would give both parties equal equity ownership (50/50) of Altalto Ltd. and the right to appoint a Director. Details of the original option agreement were previously announced on 12 May 2020. The Company expects the project will be in a position to launch its front-end engineering design (FEED) later in 2021 subject to confirmed UK Government policy support and the addition of new investment partners in the project.