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Oxford Catalysts Selected for GreenSky
London Commercial Plant
PR Newswire
LONDON, July 3, 2012
July 3, 2012
/PRNewswire/ --
Oxford Catalysts Group PLC, the leading technology innovator for synthetic
fuels production, is pleased to announce that it has been selected by Solena
Fuels Corporation ("Solena") to supply their GreenSky London waste-biomass to
jet fuel project, whose leading partner is British Airways. GreenSky London has
been established to create
first commercial scale sustainable jet fuel
After a formal evaluation of available technologies performed by Fluor
Corporation on behalf of Solena, the Group was selected by Solena as the sole
supplier of Fischer-Tropsch ("FT") technology for GreenSky London. In addition,
Solena has entered into an understanding with the Group for the supply of FT
units to its future Biomass to Liquids ("BTL") projects with many of the world's
leading airlines and shipping companies, including GreenSky California,
British Airways is working with Solena to establish
first sustainable jet
fuel plant, GreenSky London, and intends to use the low-carbon fuel to power
part of its fleet as of 2015. Successful implementation of the GreenSky London
project and receipt of the order will generate revenues to the Group in excess
$30 million
(during the construction phase to 2015), and additional ongoing
revenues of more than
$50 million
over the first fifteen years of the plant's
Roy Lipski, CEO of Oxford Catalysts Group said:
"Our selection for this project ahead of conventional technology from larger
companies is further evidence of the superiority of our offering. We are pleased
to be part of the GreenSky London project and to contribute to British Airways'
strategy for sustainable aviation and Solena's worldwide roll out plan."
Dr. Robert Do, CEO of Solena Fuels said:
"With the advice of Fluor, we carried out a rigorous evaluation of available
suppliers for the Fischer-Tropsch process, an essential part of our integrated
BTL solution. Oxford Catalysts' technology offers modular sizing and the
advantages of high-efficiency, fixed bed reactors. We're very pleased to be
working with them on the GreenSky London project, and on realising our
strategy of rolling out multiple sustainable fuel plants throughout the world."
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
Columbus, Ohio
, USA.
About Solena Fuels Corporation
Solena is developing BTL plants around the world based on its proprietary
gasification technology. Solena's synthetic fuel is a "drop-in" fuel that allows
airlines and shipping companies to utilise a sustainable energy source without
any changes to their engines or infrastructure. Solena is a privately held
corporation, headquartered in
Washington, DC
, USA.
For further information, please contact:
Oxford Catalysts
Roy Lipski, CEO
Susan Robertson, CFO
Cenkos Securities (Nomad and Broker)
Ken Fleming / Beth McKiernan
FTI Consulting
Billy Clegg / Alex Beagley
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