British billionaire increases shares in UK biofuels company Velocys

In the UK, billionaire and Chelsea football club owner Roman Abramovich has increased his investment in the biofuel company Velocys by 1.59 million shares. Since Abramovich’s first Velocys investment in 2012, the company’s shares have risen over 33%. In partnership with British Airways, Velocys is currently planning to build a waste biomass to jet fuel plant outside of London. It will be Europe’s first such plant.