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GreenSky project provides boost for Oxford Catalysts Group

StockMarketWire.com – Oxford Catalysts Group (OCG.L), the modular gas-to-liquids technology innovator, has reported several significant milestones announced by British Airways concerning the GreenSky London project being developed by Solena Fuels Corporation.

British Airways has confirmed that it has committed to purchase the sustainable jet fuel produced by the plant for ten years (at market rates) – worth £315m at current prices.

In July 2012, Oxford Catalysts was selected by Solena to provide its Fischer-Tropsch (FT) technology to GreenSky London, Europe’s first commercial scale sustainable jet fuel facility, being developed in partnership with British Airways.

GreenSky London is the first of several waste-biomass to jet fuel projects planned by Solena. Successful implementation of the GreenSky London project and receipt of the notice to proceed (targeted for next year) is expected to generate revenues for Oxford Catalysts in excess of $30m during the construction phase, and additional ongoing revenues of more than $50m over the first 15 years of the plant’s operation.

Roy Lipski, CEO of Oxford Catalysts Group said: “Today’s confirmation of British Airways’ financial commitment to the project represents a major step forward for GreenSky London. We are very pleased to be part of this landmark facility and to contribute to British Airways’ strategy for sustainable aviation, as well as Solena’s worldwide project roll out plans.”

At 11:59am: [LON:OCG] share price was +16.75p at 130.5p

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