Portfolio news 2012
Oxford Catalysts Group plc - Oxford Reactors Selected for California Demo Plant
30 Jul 2012
Oxford Catalysts Group PLC, the leading technology innovator for synthetic fuels production, is pleased to announce that its technology has been selected by Sierra Energy ("Sierra") for a California Energy Commission ("CEC") funded synthetic fuels demonstration plant.
With the help of a $5 million grant recently secured from the CEC, Sierra, a waste gasification and renewable energy company based in Davis, California, is progressing with building a waste to fuels facility in Northern California. The plant will produce clean diesel and other products using a combination of Sierra's proprietary gasifier and the Group's Fischer-Tropsch ("FT") technology. It will have a capacity of some 25-100 barrels per day, and is expected to be operational in mid to late 2013.
Sierra intends to use this demonstration as the basis for the design and roll out of multiple commercial plants that will convert waste biomass material into ultra-clean synthetic fuels.
Roy Lipski, CEO of Oxford Catalysts Group said:
"We're pleased to have been selected for this Waste-to-Liquids project by Sierra Energy, and in turn by the California Energy Commission. It provides further validation of the commercial attraction and readiness of our FT product."
Michael Hart, President and CEO of Sierra Energy said:
"We are pleased the California Energy Commission recognised the significant impact our FastOx waste gasification, coupled with the Oxford Catalysts / Velocys FT technology, could have for the environment and renewable industries. Securing these funds puts us on a clear path to commercial success."
- Ends -
For further information, please contact:
Roy Lipski, CEO
Susan Robertson, CFO +44 (0)20 7831 3113
+1 614 733 3300
Cenkos Securities (Nomad and Broker)
Ken Fleming / Beth McKiernan +44 (0)20 7397 8900
+44 (0)131 220 9772
Billy Clegg / Alex Beagley +44 (0)20 7831 3113
Notes to Editors
Oxford Catalysts enables modular 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 modular 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.
About Sierra Energy
Sierra Energy is a waste gasification and renewable energy company commercialising its FastOx gasifier, a simple derivative of the iron-making blast furnace, for the production of clean renewable energy from waste material.