Velocys PLC, formerly Oxford Catalysts Group PLC, is a holding company. The Company is engaged in the designs and development of technology for the production of clean synthetic fuels from both conventional fossil fuels and renewable sources such as bio-waste. The Company is primarily focused on the production of synthetic fuels via Fischer-Tropsch (FT) synthesis, a market that has the potential of producing as much as 25 million barrels of fuel a day.
Velocys, formerly Oxford Catalysts, owns technology that powers small scale gas to liquids plants. It recently announced a commercial deal to sell a reactor to an unnamed customer in the Commonwealth of Independent States (CIS).
The UK has become quite creative in the way that it recycles. In Glasgow we have buses that run on waste cooking oil, while there are plans underway to run British Airways jets with fuel made from household waste. The latter relies on the potentially revolutionary technology of AIM-listed Velocys to perform this modern day...
Synthetic fuels firm Oxford Catalysts Group has conditionally placed 24.5mln shares at 125p each. The company is set to raise around £30.6mln (gross) from the placing, which was oversubscribed. The new shares will represent around 21.1% of the enlarged ordinary share capital.