Re: Agreement with Thai Natio

RNS Number : 4555Z

Oxford Catalysts Group PLC

21 July 2008

 



21 July 2008

OXFORD CATALYSTS GROUP PLC

 ('Oxford Catalysts' or 'the Company')

Oxford Catalysts Signs MOU with Thai National Oil Company

Highlights

·       MOU with Thai state oil and gas company, PTT (£12.6bn market capitalisation)

·       Evaluation and commercialisation of a technology which upgrades natural gas

·       Side-stream testing results expected by the end of 2008

·       If successful, the project will lead to commercial deployment and license income

Oxford Catalysts, the leading catalyst innovator for clean fuels, is pleased to announce that it has entered into a memorandum of understanding ('MOU') with the Thai state controlled oil and gas company, PTT Public Company Limited ('PTT'), Thailand's largest listed company that accounts for 20% of the country's GDP.

The two Companies are collaborating on the evaluation and commercialisation of a technology for upgrading natural gas. Since the importance of compressed natural gas ('CNG') as a transportation fuel is rapidly rising in Thailand and other parts of Asia, this technology will help support the region's drive towards cleaner, sulphur-free fuels.  

The technology has been tested against competitive materials in the laboratory, and will now be tested in two commercial side-stream units with results expected by the year end. If the testing is successful, the next stage will consist of an industrial scale field trial by PTT. 

Upon success, the project will ultimately lead to the supply of materials for future commercial deployment, through a third party contract manufacturer, with expected revenue to Oxford Catalysts in the form of license and royalty payments.  

Oxford Catalysts has identified, and is already working with, a major catalyst company as their partner for scaling-up manufacture of the materials for commercial deployment.

Roy Lipski, Chief Executive of Oxford Catalysts said:

'We are thrilled to have signed this deal with one of Asia's leading oil and gas companies, and that initial testing of the technology in a commercial environment should be complete by the end of the calendar year. 

'The materials being tested could help produce cleaner fuels, not only in the area of compressed natural gas, but also through the conditioning of coal gas − an essential step in the production of sulphur-free diesel using next generation coal-to-liquids Fischer-Tropsch technology. 

'Both Oxford Catalysts and PTT see this MOU as a stepping-stone towards a stronger relationship, involving collaboration on a broad range of applications. We look forward to updating shareholders as to progress.'

- Ends -

  For further information, please contact:

Roy Lipski, CEO, Oxford Catalysts	01235 841 700
Jonathan Marren/Oliver Stratton, KBC Peel Hunt (Nomad & Broker)	020 7418 8900
Billy Clegg/Alex Beagley, Financial Dynamics	020 7831 3113

Notes to Editors

Oxford Catalysts Group PLC, the leading catalyst innovator for clean fuels, designs and develops specialty catalysts for the generation of clean fuels from both conventional fossil fuels and certain renewable sources such as bio-waste. Its patented technology is built on almost 20 years of research at the University of Oxford's prestigious Wolfson Catalysis Centre, headed by Professor Malcolm Green, one of the world's most respected inorganic chemists. Oxford Catalysts was founded by Professor Green and Dr Xiao in October 2004.

Oxford Catalysts' strategy is to license its catalysts for commercial application by entering into co-development partnerships with leading manufacturers, producers and suppliers in the petroleum, petrochemicals, biogas, steam applications and catalysis markets.

Oxford Catalysts has two key platform technologies. The first is for a novel class of catalysts incorporating metal carbides, which can match or exceed the benefits of traditional precious metal catalysts, at a lower cost, for several key processes used in the petroleum and petrochemical industries. Applications of these metal-carbide catalysts include the removal of sulphur from crude oil fractions (known as hydro-desulphurisation or HDS), the conversion of natural gas, coal or bio-mass into virtually sulphur-free liquid fuels via the Fischer-Tropsch reaction (known as the GTL, CTL and BTL processes respectively), and the transformation of biogas (waste methane) into syngas − the building block of liquid fuels.

The second platform relates to a unique chemical reaction which can be used to generate steam at temperatures between 100ºC and 600ºC+, instantaneously, starting from room temperature, using a cheap liquid fuel alongside the Company's patented catalysts. Such unprecedented Instant Steam could have important applications in a broad range of markets, from cleaning and disinfecting, to green energy in the form of motive power or electricity.

Oxford Catalysts Group PLC is listed on London's AIM market (coding symbol OCG). 

www.oxfordcatalysts.com 

About PTT Public Company Limited

PTT is Thailand's only fully-integrated oil and gas company, with a leading position in E&P, transmission, refining, marketing & trading of petroleum and petrochemical products. PTT and its affiliates ('The Group') account for over 30% of Thailand's stock exchange with a combined market cap of Thai Baht 840bn (£12.6bn). Thailand's Ministry of Finance is the largest shareholder in PTT with a 52% stake; the Group represents approximately 20% of Thailand's gross domestic product. 

www.pttplc.com 

 

END

 

 

AGRILFLRDRITLIT