Oxford Catalysts' annual revenue climbs

Oxford Catalysts Group, which supplies technology to gas-to-liquids companies, reported a 61 per cent rise in 2012 revenue on the back of demand for its products.

Revenue increased to £7.6m, compared to £4.7m in the prior year as the company scored new contracts.

The group's technology was selected for two commercial projects with potential revenues of over £160m.

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Oxford also signed a partnership with Ventech Engineers, which focuses on design and fabrication of modular refineries.

"[Last year] was truly a milestone year for Oxford Catalysts," said Chairman Pierre Jungels.

"The group's unique and innovative technology has now been validated through successive field trials and through a thorough selection process for several commercial projects.

"With levels of interest in synthetic fuel production at smaller scales continuing to be strong, and a number of commercial projects progressing through engineering stages, 2013 looks set to be another pivotal year of commercial progress for the group."

Oxford's cash position was bolstered following completion of a £30.6m placing in January which will be used to develop and roll out technology.

This year the company expects results to be driven by availability of cheap gas, concerns over gas flaring and energy security, and demand for cleaner fuels.

Shares climbed 3.05% to 152.00p at 11:10 Tuesday.

RD