25th Jul 2006 07:02
Oxford Catalysts Group PLC25 July 2006 25th July 2006 OXFORD CATALYSTS GROUP PLC ("Oxford Catalysts" or "the Company") Development Contract: Steam Oxford Catalysts Group PLC, the leading catalyst innovator for clean fuels, ispleased to announce that it has progressed to a nine-month prototype developmentprogram under contract with Proventec PLC ("Proventec"), a provider ofspecialist steam cleaning technologies. This follows the successful completionof an evaluation phase of the Company's technology by Proventec, pursuant to acontract signed in February 2006. The agreement has a value to Oxford Catalystsof up to £100,000, and provides for future licensing of the Company's technologyto Proventec for use in the steam cleaning market. Oxford Catalysts has developed a unique catalytic method for the production ofsteam directly from a liquid fuel, instantaneously starting from roomtemperature. This technology dispenses with the need for a boiler, power cables,external heat source or generator in a compact, safe and portable way. BothOxford Catalysts and Proventec recognise that the Company's technology hasdirect application in the fast-growing markets for industrial steam cleaning,including street cleaning, food processing, packaging plants and hospitals,enabling mobile applications that are not currently feasible. Roy Lipski, Chief Executive of Oxford Catalysts, said: "This is a significant step for us as a company, allowing us to further thecommercialisation of our steam generation technology. We are delighted to beworking with Proventec on applying this technology to the industrial steamcleaning market where it could become an important enabler for mobile andportable steam cleaning applications. This program represents the successfulcompletion of a key milestone in the development of Oxford Catalysts' steamgeneration technology. It demonstrates our commitment to delivering on ourcommercialisation strategy that is designed to realise the substantial licensingrevenue potential of our broad portfolio of technologies." David Chestnutt, Chief Executive of Proventec, said: "We are extremely excited about the commercial potential for this unique methodof steam generation. As the leading provider of steam cleaning, we believe thatthis development will open new markets for use of steam as a cleaning anddisinfectant medium. We are pleased to be working with Oxford Catalysts and lookforward to bringing this technology to the market." - Ends - For further information, please contact: Roy Lipski, CEO, Oxford Catalysts 07958 970 855 Megan MacIntyre, KBC Peel Hunt 020 7418 8900 Jonathon Brill, Billy Clegg, Andrew White 020 7831 3113Financial Dynamics Notes to Editors Oxford Catalysts Group plc, the leading catalyst innovator for clean fuels,designs and develops specialty catalysts for the generation of clean fuels fromboth conventional fossil fuels and certain renewable sources such as biomass.Its patent-pending technology is the result of 19 years of research at theUniversity of Oxford's prestigious Wolfson Catalysis Centre, headed by ProfessorMalcolm Green, one of the world's most respected inorganic chemists. OxfordCatalysts was founded by Professor Green and Dr Xiao in October 2004 and wasadmitted to trading on the AIM market of the London Stock Exchange on 26th April2006, having raised £15m before expenses from a solid base of institutionalinvestors. Oxford Catalysts' strategy is to license its catalysts for commercialapplication by entering into co-development partnerships with leadingmanufacturers, producers and suppliers in the petroleum, petrochemicals, fuelcells, biogas, steam applications and catalysis markets. Oxford Catalysts has two key platform technologies. The first is for a novelclass of catalysts made from metal carbides which, for certain reactions, canmatch or exceed the benefits of traditional precious metal catalysts at a lowercost. Applications of these metal-carbide catalysts include the removal ofsulphur from crude oil fractions (known as hydro-desulphurisation or HDS), theconversion of natural gas or coal into virtually sulphur-free liquid fuels viathe Fischer-Tropsch reaction (known as the GTL and CTL processes respectively),and the transformation of biogas (waste methane) into syngas - the building block of liquid fuels. The second platform relates to chemical reactions involving a liquid fuelcontaining an alcohol (such as methanol), hydrogen peroxide and water. Thecompany's novel catalyst can be used to release hydrogen gas from this liquidfuel, instantaneously starting from room temperature. This groundbreakinghydrogen-on-demand technology has the potential to significantly accelerate thecommercial adoption of fuel cells in the portable and other mobile markets, byproviding the much needed source of cheap, safe transportable hydrogen. Another of the company's catalysts can be used to produce superheated steam(800c+) from the above fuel, instantaneously starting from room temperature.Such portable high-temperature steam could have important applications in abroad range of markets, from cleaning and disinfecting, to motive power andelectricity generation. www.oxfordcatalysts.com About Proventec Proventec is a specialist and innovative provider of steam cleaning and coatingstechnologies. The Company was formed as a result of the reverse takeover ofInnoCleaning Magma Holdings BV and OspreyDeepClean Limited, a group of fireretardant coatings and specialist steam cleaning businesses, by FlintstoneTechnologies plc in August 2005. Proventec provides solutions to a number of markets including the food retailand preparation market, hospitality industries, and healthcare which includeshospitals and suppliers of hospital equipment, transport infrastructure,construction materials and consumer products. The cleanings solutions aredesigned to target and combat the spread of common food bacteria and HAI(Hospital Acquired Infections), including MRSA. www.flintstoneplc.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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