Calumet Project Update

RNS Number : 3266Y

Oxford Catalysts Group PLC

20 February 2013

 

20^th February 2013

OXFORD CATALYSTS GROUP PLC

("Oxford Catalysts" or "the Group" or "the Company")

Calumet Project Update

Oxford Catalysts Group (OCG.L), the modular Gas-to-Liquids (GTL) technology innovator, is pleased to provide an update on the Calumet Gas-to-Liquids project announced on 7 September 2012.

Ventech Engineers International LLC (Ventech), specialists in modular processing plants with whom the Group has been working on this project, has now completed the plant design and provided a fixed price quote for the modules. Calumet has confirmed that the project economics look "strong".

At the same time, Calumet's appointed third-party owner's engineer finished a thorough review of the Group's technology, as well as Ventech's GTL design and other intended technology components. As a result, Calumet has concluded that the technology "is fantastic".

Calumet now plans to progress with the more detailed engineering and market analysis for a plant of approximately 1,400 bpd. At the conclusion of this study, which is expected to last approximately six months, Calumet will be in a position to decide on proceeding with fabrication.

Roy Lipski, CEO of Oxford Catalysts Group, said:

"This is an exciting development for Oxford Catalysts. The project with Calumet will be the only commercial GTL plant in North America to move in to front end engineering, other than Sasol's project in Louisiana. If it continues on its current schedule, it will be the first GTL plant to be operational in North America, and the only commercial smaller scale GTL anywhere in the world.

"We are pleased that Calumet has confirmed that both the economics and technology look attractive, and to be able to add another company to the growing list of engineering firms that have successfully completed independent reviews of our technology. We are confident of the coming growth of GTL in North America and elsewhere, and of playing a leading role in this emerging market."

- Ends -

For further information, please contact:

Oxford Catalysts Roy Lipski, CEO Susan Robertson, CFO	[phone] [phone]
Lionsgate Communications Jessica Johnson	[phone]
Cenkos Securities (Nomad and Joint Broker) Ken Fleming / Neil McDonald	[phone] [phone]/1
Numis Securities (Joint Broker) Alex Ham / Alastair Stratton	[phone]

Notes to Editors

Oxford Catalysts enables Gas-to-Liquids (GTL) plants to convert unconventional, remote and problem gas into valuable liquid fuels. Systems based on the Group's technology (marketed under the brand name Velocys) are significantly smaller than those using conventional technology, enabling modular plants that can be deployed cost effectively in remote locations and on smaller fields than is possible with competing systems. Together with world-class partners, Oxford Catalysts provides complete smaller scale GTL solutions that address an untapped market of up to 25 million barrels of fuel a day.

Oxford Catalysts Group PLC is listed on the AIM market of the London Stock Exchange (LSE: OCG). The Group has some 85 employees with facilities near Oxford, UK and Columbus, Ohio, USA.

www.oxfordcatalysts.com

www.velocys.com

 

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