Oxford Catalysts Signs Contract with Thai National Oil Company
Oxford Catalysts, the leading catalyst innovator for clean fuels, is pleased to announce that it has signed an agreement with the Thai state controlled oil and gas company, PTT Public Company Limited ("PTT"), to specify and supply know-how and materials, including catalysts, for a system for the production of synthetic liquid fuels using small scale Fischer-Tropsch ("FT").PTT, which is Thailand's largest listed company that accounts for 20% of the country's GDP, has selected Oxford Catalysts as a partner in its development of an FT process targeting small scale applications.
PTT's initial focus is on monetising its stranded gas reserves, with a further objective of converting locally available biomass such as wood chips and agricultural waste, as well as coal, into clean transportation fuels. FT derived transportation fuels, such as FT diesel, are sulphur free and offer improved engine performance and reduced particulate emissions.
The initial contract is valued at over $200,000, to be invoiced in the course of 2008 and 2009.
Roy Lipski, Chief Executive of Oxford Catalysts said:
"Synthetic fuels from small scale FT will be important globally as a source of clean transportation fuels, including in Thailand given its stranded gas reserves and vast biomass potential.
"Oxford Catalysts is delighted with this additional engagement with PTT. We continue to collaborate on a broad range of applications; this contract is evidence of further deepening and broadening of our relationship with PTT following the MOU we announced in July concerning a technology for upgrading natural gas."
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