Catalyst and synthetic fuels technology developer Oxford Catalysts did not generate the revenues it expected to in 2010 but interest in the company’s technology is increasing.
Revenues for 2010 will be slightly lower than the £8.7m reported in 2009. Brokers Peel Hunt and Matrix had both forecast revenues of at least £10m. A reduction in government funding of a development project hit 2010 revenues. At the moment revenues tend to come from development funding but they will be increasingly generated by income from commercial projects.
The company’s cash position is in line with expectations but continuing losses over the next couple of years at least may require further funding.
SGC Energia has ordered a commercial scale Fischer-Tropsch reactor and this could lead to further orders. A demonstration plant at Gussing in Austria is still in operation – it was originally going to be moved to the US but the plans were changed.
Petrobras will start operating a demonstration plant in Brazil, incorporating steam methane reforming and Fischer-Tropsch technology, during the summer.
Oxford Catalysts expects to complete negotiations with new partners for its synthetic fuels technology in the next few months.
The rising oil price is making synthetic fuels technology even more attractive to partners. As oil prices rise and gas prices stagnate or fall there will be more demand for gas-to-liquids technology. On top of that, flaring off waste gas is frowned upon environmentally. There is also demand for biomass-to-liquids and waste-to-liquids technology.
Engineering cost studies show that the Oxford Catalysts technology is commercially viable.
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