diff --git a/pom.xml b/pom.xml
index 82b5c19..a0d189b 100644
--- a/pom.xml
+++ b/pom.xml
@@ -47,7 +47,7 @@ limitations under the License.
   </distributionManagement>
 
   <properties>
-    <slf4j.version>1.7.36</slf4j.version>
+    <slf4jVersion>1.7.36</slf4jVersion>
     <project.build.outputTimestamp>2021-07-03T11:34:51Z</project.build.outputTimestamp>
   </properties>
 
@@ -59,17 +59,23 @@ limitations under the License.
     <dependency>
       <groupId>org.apache.velocity</groupId>
       <artifactId>velocity-engine-core</artifactId>
-      <version>2.0</version>
+      <version>2.3</version>
+    </dependency>
+    <dependency>
+      <groupId>junit</groupId>
+      <artifactId>junit</artifactId>
+      <scope>test</scope>
     </dependency>
     <dependency>
       <groupId>org.slf4j</groupId>
       <artifactId>slf4j-api</artifactId>
-      <version>${slf4j.version}</version>
+      <version>${slf4jVersion}</version>
+      <scope>test</scope>
     </dependency>
     <dependency>
       <groupId>org.slf4j</groupId>
       <artifactId>slf4j-simple</artifactId>
-      <version>${slf4j.version}</version>
+      <version>${slf4jVersion}</version>
       <scope>test</scope>
     </dependency>
   </dependencies>
diff --git a/src/main/java/org/codehaus/plexus/velocity/DefaultVelocityComponent.java b/src/main/java/org/codehaus/plexus/velocity/DefaultVelocityComponent.java
index faf2b7e..71921de 100644
--- a/src/main/java/org/codehaus/plexus/velocity/DefaultVelocityComponent.java
+++ b/src/main/java/org/codehaus/plexus/velocity/DefaultVelocityComponent.java
@@ -60,8 +60,6 @@ public void initialize()
         throws InitializationException
     {
         engine = new VelocityEngine();
-        // avoid "unable to find resource 'VM_global_library.vm' in any resource loader."
-        engine.setProperty( RuntimeConstants.VM_LIBRARY, "" );
         if ( properties != null )
         {
             engine.setProperties( properties );
diff --git a/src/main/resources/META-INF/plexus/components.xml b/src/main/resources/META-INF/plexus/components.xml
index 24ff608..f2f6bd1 100644
--- a/src/main/resources/META-INF/plexus/components.xml
+++ b/src/main/resources/META-INF/plexus/components.xml
@@ -7,44 +7,44 @@
       <configuration>
         <properties>
           <property>
-            <name>resource.loader</name>
+            <name>resource.loaders</name>
             <value>classpath,file</value>
           </property>
           <property>
-            <name>classpath.resource.loader.class</name>
+            <name>resource.loader.classpath.class</name>
             <value>org.apache.velocity.runtime.resource.loader.ClasspathResourceLoader</value>
           </property>
           <property>
-            <name>file.resource.loader.class</name>
+            <name>resource.loader.file.class</name>
             <value>org.apache.velocity.runtime.resource.loader.FileResourceLoader</value>
           </property>
           <property>
-            <name>file.resource.loader.path</name>
+            <name>resource.loader.file.path</name>
             <!-- This space intended! Actually Velocity expects an empty string but
                  Plexus/XStream choke on it and skip the remaining configuration.
                  Luckily, Plexus/XStream trim strings and we achieve the desired effect. -->
             <value> </value>
           </property>
           <property>
-            <name>runtime.log.invalid.references</name>
+            <name>runtime.log.log_invalid_references</name>
             <value>false</value>
           </property>
           <property>
-            <name>velocimacro.messages.on</name>
+            <name>resource.manager.log_when_found</name>
             <value>false</value>
           </property>
           <property>
-            <name>resource.manager.logwhenfound</name>
-            <value>false</value>
-          </property>
-          <property>
-            <name>eventhandler.include.class</name>
+            <name>event_handler.include.class</name>
             <value>org.apache.velocity.app.event.implement.IncludeRelativePath</value>
           </property>
           <property>
-            <name>velocimacro.permissions.allow.inline.to.replace.global</name>
+            <name>velocimacro.inline.replace_global</name>
             <value>true</value>
           </property>
+          <property>
+            <name>parser.space_gobbling</name>
+            <value>bc</value>
+          </property>
         </properties>
       </configuration>
     </component>
diff --git a/src/site/xdoc/index.xml b/src/site/xdoc/index.xml
index 460f9d9..113fedf 100644
--- a/src/site/xdoc/index.xml
+++ b/src/site/xdoc/index.xml
@@ -34,18 +34,18 @@ template.merge( context, writer );</source>
       <configuration>
         <properties>
           <property>
-            <name>resource.loader</name>
+            <name>resource.loaders</name>
             <value>classpath</value>
           </property>
           <property>
-            <name>classpath.resource.loader.class</name>
+            <name>resource.loader.classpath.class</name>
             <value>org.apache.velocity.runtime.resource.loader.ClasspathResourceLoader</value>
           </property>
         </properties>
       </configuration>
     </component>]]></source>
         </p>
-        <p>See <a href="https://velocity.apache.org/engine/2.0/configuration.html">Velocity Configuration</a>
+        <p>See <a href="https://velocity.apache.org/engine/2.3/configuration.html">Velocity Configuration</a>
         reference documentation for details on available configurations.</p>
       </subsection>
     </section>
diff --git a/src/test/resources/org/codehaus/plexus/velocity/DefaultVelocityComponentTest.xml b/src/test/resources/org/codehaus/plexus/velocity/DefaultVelocityComponentTest.xml
index 436932c..2c8ac81 100644
--- a/src/test/resources/org/codehaus/plexus/velocity/DefaultVelocityComponentTest.xml
+++ b/src/test/resources/org/codehaus/plexus/velocity/DefaultVelocityComponentTest.xml
@@ -7,16 +7,16 @@
       <configuration>
         <properties>
           <property>
-          	<name>resource.loader</name>
-          	<value>classpath</value>
+            <name>resource.loaders</name>
+            <value>classpath</value>
           </property>
           <property>
-          	<name>classpath.resource.loader.class</name>
-          	<value>org.apache.velocity.runtime.resource.loader.ClasspathResourceLoader</value>
+            <name>resource.loader.classpath.class</name>
+            <value>org.apache.velocity.runtime.resource.loader.ClasspathResourceLoader</value>
           </property>
           <property>
-          	<name>hello</name>
-          	<value>world</value>
+            <name>hello</name>
+            <value>world</value>
           </property>
         </properties>
       </configuration>