Synthetic fuel firm Oxford Catalysts is powering towards becoming a fully commercial firm, bosses have revealed.
The company based at Milton Park, has been developing its products since spinning out of Oxford University in 2004.
Now it has received a second order for its Fischer-Tropsch (FT) unit.
The technology converts natural gas, coal or organic material into clean, high performance fuels and it is estimated that up to 25 million barrels of fuel a day could be produced.
In its latest set of finacial results the firm revealed it had made a pre-tax loss of £8.07m for the year to December 31 2010.
But last month it revealed it had raised £21m from investors.
Chairman Pierre Jungels said: “2010 has been another successful year in the Group’s transition from a development company to a commercial product provider. Following the recent fundraising, Oxford Catalysts is well capitalised to continue pressing forward with commercial roll-out.
“We are receiving unprecedented levels of interest in our technology as the market environment for synthetic fuels continues improving. The Board looks forward to a period of considerable progress with growing anticipation for the future.”
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here