Abingdon: Roman Abramovich invests in pioneering fuel firm Oxford Catalysts
Oxford Catalysts, the company that develops methods for turning household waste into fuel, is being backed by Roman Abramovich, the billionaire owner of Chelsea Football Club. The company, formed from the chemistry department of University of Oxford eight years ago, innovates in creating new ways to make fuel. With 85 employees at its base at Milton Park, Abingdon, and in Columbus, Ohio, it enables Gas-to-Liquids (GTL) plants to convert unconventional, remote and problem gas into valuable liquid fuels.
Systems based on the Group’s technology (marketed under the brand name Velocys) are significantly smaller than those using conventional technology, enabling modular plants that can be deployed cost effectively in remote locations and on smaller fields than is possible with competing systems. Together with its partners, Oxford Catalysts provides solutions that address an untapped market of up to 25 million barrels of fuel a day.
Listed on the AIM market, the company recently approved a £30.6 million share placing. Abramovich is said to have invested £4.3m. Fund manager Invesco is said to have invested £10m.
Resources: Oxford Catalysts website
