Oxford Catalysts Group PLC, the leading technology innovator for synthetic oil production, is pleased to announce that it has received a commercial order for its Fischer-Tropsch ("FT") product from a new customer, a Fortune 500 company committed to distributed production of synthetic fuels.
The order comprises two full scale FT units (with a nominal capacity of over 50 bpd) that form the first instalment of reactors towards a commercial synthetic fuels plant expected to start operations in 2012. The customer intends to roll out additional plants following successful completion and operation of this first US commercial facility. The two reactors ordered will be delivered by the fourth quarter of 2011.
This is the Group's third sale of FT reactors and catalyst, following separate orders for FT units by SGC Energia, SGPS, S.A. in December 2010 and April 2011.
Roy Lipski, CEO of Oxford Catalysts Group said:
"Commercial momentum continues to build. We are excited to have the opportunity to work with this major corporation and to deploy our technology in its first commercial plant. The success of this plant will form the basis for roll out of multiple future plants."
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For further information, please contact:
Roy Lipski, CEO
Susan Robertson, CFO
+44 (0)20 7831 3113
+1 614 733 3300
Cenkos Securities (Nomad and Broker)
Ken Fleming / Jon Fitzpatrick
+44 (0)20 7397 8900
+44 (0)131 220 9772
Billy Clegg / Alex Beagley
+44 (0)20 7831 3113
Notes to Editors
Oxford Catalysts designs and develops technology for the production of synthetic oil from both conventional and renewable sources such as bio-waste. The Group is focused on the emerging market for distributed smaller scale production of synthetic oil via Fischer-Tropsch ("FT") synthesis - a market that has the potential of producing as much as 25 million barrels of fuel a day.
The FT reaction is used when converting natural gas, coal or bio-mass into clean high-performance synthetic oil, processes known as GTL, CTL and BTL respectively. The Group is the recognised world leader in the design and development of high-activity catalysts and associated novel chemical reactors for the smaller scale production of synthetic oil. (The Group's reactor technology - known as microchannel process technology - is marketed under the brand name of Velocys).
Oxford Catalysts Group PLC is listed on the AIM market of the London Stock Exchange (LSE: OCG). The Group has some 80 employees with facilities near Oxford, UK and Columbus, Ohio, USA.
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