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.”