GTL Engineering Study Update

RNS Number : 3485X

Oxford Catalysts Group PLC

14 February 2012

 



14^th Feb 2011

OXFORD CATALYSTS GROUP PLC

("Oxford Catalysts" or "the Group")

GTL Engineering Study Update

Oxford Catalysts Group PLC, the leading technology innovator for synthetic fuels production, is pleased to announce that it has successfully progressed to the next phase (known as FEL2) of an engineering study for a 15,000 bpd Gas-to-Liquids ("GTL") plant.

The study, conducted on behalf of a $multi-billion Exploration & Production company by a major engineering firm, is evaluating a facility in North America for converting shale gas into finished synthetic fuels. This next phase of the evaluation is due to begin shortly with a budget of several $million.

The Group announced its successful selection for the first phase of the engineering study (FEL1) in June 2011.

Roy Lipski, CEO of Oxford Catalysts Group said:

"We're pleased to be one of only a very small number of providers to have been chosen to progress to the next stage of this engineering study. The first stage of the study confirmed the economic advantage of our technology, due to its higher performance and modular nature.

"This is an exciting opportunity for the Group to participate in what could be one of the first major GTL plants to be built in North America. Market conditions for our products are better than ever and we're enjoying record levels of interest in our technology.

"Our successful selection for this next phase of the study provides further validation of the commercial attractiveness and relevance of our offerings, particularly for distributed scale opportunities."

- Ends -

For further information, please contact:

Roy Lipski, CEO, Oxford Catalysts and Velocys	[phone]
Ken Fleming / Beth McKiernan, Cenkos Securities (Nomad and Broker)	020 7397 8900 / 0131 220 6939
Billy Clegg / Alex Beagley, FTI Consulting	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 bio-waste. The Group is primarily focused on the emerging market for distributed scale production of synthetic fuels 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 liquid synthetic fuels, 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 small scale production of synthetic fuels. (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 85 employees with facilities near Oxford, UK and Columbus, Ohio, USA.

www.oxfordcatalysts.com

www.velocys.com

 

END

 

 

MSCGGUWWPUPPPUW