LONDON, 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 Europe's first commercial scale sustainable jet fuel facility.
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, Rome and Stockholm.
British Airways is working with Solena to establish Europe's 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 of $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 operation.
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 and 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:
Roy Lipski, CEO
Susan Robertson, CFO
Cenkos Securities (Nomad and Broker)
Ken Fleming / Beth McKiernan
Billy Clegg / Alex Beagley
SOURCE Oxford Catalysts Group PLC