Award of $5 million Commercia

RNS Number : 9170S

Oxford Catalysts Group PLC

28 May 2009

 



28th May 2009 

OXFORD CATALYSTS GROUP PLC

('Oxford Catalysts' or 'the Group')

Award of $5 million Commercialisation Grant

Oxford Catalysts Group PLC, the leading technology innovator for clean fuels, is pleased to announce that its US subsidiary, Velocys, Inc. ('Velocys'), has been awarded a $5 million commercialisation grant, applicable over a period of two and a half years. The successful Velocys grant proposal was ranked highest out of 32 finalists by an independent review committee from the US National Academy of Sciences.

The grant will assist in commercialising the Group's microchannel technology for hydro-processing − an important step in the production of synthetic fuels used to maximise the yield of commercially desirable liquid fuels such as diesel. 

Successful commercialisation of the Group's technology for hydro-processing will enable better economics for the production of clean fuels from renewable biomass and biowaste, especially on a distributed small scale, as well as from smaller stranded natural gas reserves.

The addition of hydro-processing alongside its technologies for Fischer-Tropsch and Steam Methane Reforming will consolidate the Group's position as a leader in synthetic fuel technologies. 

The grant is part of the Ohio Department of Development's Third Frontier Project, a $1.6 billion 10 year initiative.

Roy Lipski, CEO of Oxford Catalysts Group said:

'This award is material evidence of our strategy in action; making the Group's technology even more commercially relevant and appealing. I am confident it will help consolidate and strengthen our leading market position in synthetic fuels.

'The fact that we were ranked highest by the National Academy of Sciences is strong endorsement of the ground-breaking potential of our technology.'

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For further information, please contact:

Roy Lipski, CEO, Oxford Catalysts	01235 841 700
Jonathan Marren / Oliver Stratton, KBC Peel Hunt (Nomad and Broker)	020 7418 8990
Billy Clegg / Alex Beagley, Financial Dynamics	020 7831 3113

Notes to Editors

Oxford Catalysts Group PLC designs and develops technology for the production of clean 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) − a market that has the potential of producing as much as 25 million barrels of fuel a day. 

The Fischer-Tropsch ('FT') reaction is used when converting natural gas, coal or biomass into virtually sulphur-free liquid synthetic fuels, 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 − known as microchannel process technology − is currently marketed under the brand name of Velocys).

Other applications of the Group's technology include hydro-desulphurisation ('HDS'), the most commonly used process in the multi-billion dollar refining industry for the removal of sulphur from crude oil fractions. The Group has developed a novel class of highly active HDS catalysts with better performance characteristics than traditional catalysts.

Oxford Catalysts' strategy is to license its technologies for commercial application by entering into co-development partnerships with leading manufacturers, producers and suppliers in the petroleum, alternative fuels and catalysis markets.

Oxford Catalysts Group PLC is listed on London's AIM market (LSE: OCG). The Group has some 90 employees with facilities near Abingdon, Oxfordshire, UK and Columbus, Ohio, USA.

www.oxfordcatalysts.com

www.velocys.com

Ohio Department of Development 

The Ohio Department of Development ('ODoD') works to attract, create, grow, and retain businesses through competitive incentives and meaningful, targeted investments. Working with partners across business, government, educational, and non-profit sectors, ODoD is changing the trajectory of Ohio's economy by purposefully redesigning the business climate, increasing the global competitiveness of Ohio's businesses, and fostering prosperity for all Ohioans.

www.odod.state.oh.us

 

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