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27 Oct 2009 07:00
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27thΒ OctoberΒ 2009Β
OXFORD CATALYSTS GROUP PLC
("OxfordΒ Catalysts" orΒ "the Group"Β orΒ "theΒ Company"
$5.9 millionΒ Contract
Β
Oxford Catalysts Group PLC, the leadingΒ technologyΒ innovator for cleanΒ syntheticΒ fuels,Β is pleasedΒ toΒ announceΒ thatΒ itΒ has signed aΒ definitive agreement (Joint Development AgreementΒ orΒ "JDA")Β withΒ SGC Energia,Β SGPS,Β S.A.Β ("SGCE"), for the demonstration and commercialisation of the Group'sΒ Fischer-Tropsch ("FT")Β technology, primarily for Biomass-to-LiquidΒ ("BTL")Β and Waste-to-Liquid ("WTL")Β applications.Β
SGCEΒ is a holding companyΒ thatΒ acts as theΒ renewable energyΒ investment arm ofΒ JoΓ£o Pereira Coutinho, one ofΒ Portugal'sΒ most successful businessmen.Β ItΒ is owned byΒ MrΒ Coutinho and his SGC Group; the latterΒ is active in 13 countries and has an annual turnover of β¬1 billionΒ (see notes to editors).Β
Oxford Catalysts'Β USΒ subsidiary, Velocys, Inc. ("Velocys")Β and SGCE have been working together since 2007 under aΒ memorandum ofΒ understanding. The recently signed JDA formalises the commercial relationshipΒ between the partiesΒ and provides $5.9Β million ofΒ furtherΒ fundingΒ directly to the GroupΒ over theΒ balanceΒ ofΒ 2009 and 2010.Β
In addition to other Group expenses, the JDA will contribute towardsΒ theΒ costsΒ incurred forΒ the FT demonstrationΒ unit, nowΒ ready for shipping, as well as coveringΒ all the expenses associated with the extended demonstrationΒ run, planned to take place inΒ GΓΌssing,Β Austria.Β GΓΌssingΒ isΒ arguablyΒ the prime location globally for demonstratingΒ bio-conversion technologies such asΒ BTLΒ βΒ it is unique inΒ having a commercial scale biomassΒ gasifier,Β operationalΒ since 2005,Β that supplies the entire energy needsΒ ofΒ theΒ 10,000 inhabitantsΒ of the local townΒ (see notes to editors).
The demonstration plant, which will have a capacity ofΒ approximatelyΒ 10,000 gallons/year, will be operated on gasified wood chips.Β The demonstration equipment is due to be received inΒ GΓΌssingΒ in December;Β commissioned and started up in the first quarter of 2010;Β and thereafter operated for some six months. Following demonstration, the equipment will beΒ relocated to the Wright-Patterson Air Force Base nearΒ Dayton,Β Ohio,Β USAΒ where it will beΒ evaluatedΒ for the production of synthetic jet fuel.Β
Under the terms of the JDA, SGCE will haveΒ leadΒ responsibility for commercialising the Group's FT technology for BTL,Β WTLΒ and Coal-to-LiquidΒ applications.Β The JDA also provides for commercial involvement byΒ one ofΒ SGCE's partners, a veryΒ largeΒ industrial multinational.Β
Roy Lipski, CEO of Oxford CatalystsΒ GroupΒ said:
"We are pleased to have successfully progressed our relationship with SGCE.Β The JDA is a strong endorsement of our technology and is illustrative of ourΒ commercialisation strategy in action,Β whilst alsoΒ deliveringΒ a material financial contribution to the Group.Β
"We're confident thatΒ we have foundΒ in SGCE, and through theirΒ impressiveΒ associations,Β a strongΒ partnerΒ with whichΒ to commercialise our FT technologyΒ for BTLΒ and WTLΒ applications.
"We areΒ alsoΒ delighted to have secured such a high profile and ideally suited location to demonstrate our FT technology. Successful demonstration atΒ GΓΌssingΒ will be a significant step towardsΒ being ready to take commercial orders for full scale plants."
Vianney Vales,Β CEOΒ of SGCE said:
"SGCE is fully committed toΒ the production of clean fuelsΒ and is deploying substantial resources in this market. We are confident that the Velocys technology provides a important competitive advantage in this area,Β and that through our partnershipΒ with themΒ we will secure a leading position in the production of clean next generation synthetic fuels."Β
- Ends -
For further information, please contact:
|
Roy Lipski, CEO,Β OxfordΒ Catalysts |
01235 841 700 |
|
Jonathan Marren / Oliver Stratton, KBC Peel Hunt (Nomad and Broker) |
020 7418 8900 |
|
Billy Clegg /Β Alex Beagley, Financial Dynamics |
020 7831 3113 |
Notes to Editors
Oxford Catalysts designs and develops technology for the production of clean synthetic fuels from both conventional fossil fuels and renewable sources such as biowaste. The Group is primarily focused on the emerging market for distributed smaller scale production of synthetic fuels via Fischer-Tropsch ("FT")Β synthesisΒ β a market that has the potential of producing as much as 25 million barrels of fuel a day.Β
The FT reaction is used when converting natural gas, coal or bio-mass into clean high-performance liquid synthetic fuels,Β processesΒ 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 small scale production of synthetic fuels. (The Group's reactor technology β known as microchannel process technology β is marketed under the brand name of Velocys).
Oxford Catalysts Group PLC is listed onΒ London's AIM market (LSE: OCG). The Group has some 90 employees with facilities near Abingdon,Β Oxfordshire,Β UKΒ andΒ Columbus,Β Ohio,Β USA.
www.oxfordcatalysts.comΒ
www.velocys.comΒ
AboutΒ SGCE
SGCΒ Energia,Β SGPS,Β S.A.Β ("SGCE")Β is a Portuguese incorporated holding company that acts as the investment arm of JoΓ£o Pereira Coutinho, one ofΒ Portugal's richest men,Β in the renewable energy sector.Β MrΒ Coutinho, through his holdings,Β is involved in the production of conventional biofuels and the development ofΒ nextΒ generation bio and syntheticΒ fuel technologies,Β as well as the supply ofΒ complex integrated solutions forΒ theΒ production ofΒ alternativeΒ energy.Β MrΒ Coutinho'sΒ activities in the sector include theΒ operation ofΒ a 125,000 ton/yr biodiesel production facility,Β theΒ establishingΒ ofΒ over 30,000 ha of biomass energy crops inΒ Africa, and, with partners, theΒ developmentΒ and demonstration ofΒ gasification, syngas cleanup, and syngas-to-liquids technologies.Β HisΒ staff participate inΒ theΒ engineering and operation of facilities,Β as well as theΒ business aspects of projects.Β SGCE isΒ owned by JoΓ£o Pereira Coutinho and hisΒ SGC Group.Β Β SGC GroupΒ is active in 13 countries and has an annual turnover ofΒ β¬1 billion.
About GΓΌssing
GΓΌssing,Β in South Burgenland,Β Austria, is a pioneering "eco-town" of around 10,000 people. It is a completely self-sufficient town in terms of energy, producing its entire heat, power and fuel requirement from local renewable materials, such as wood, sourced from within a 5 km radius. Since 2005, a power station based on gasification of wood chips has operated in the town, with an output of 4.5 MW heat and 2 MW electricity, for domestic and industrial consumers. The biomass gasifier at this facility willΒ alsoΒ be used to supply synthesis gas for conversion to fuels via the Group's Fischer-Tropsch ("FT") demonstration unit.
www.renet.at/english/sites/guessing.phpΒ
www.eee-info.net/cmsΒ
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