Oxford Catalysts Group PLC has signed a binding memorandum of understanding with the Thai state-owned energy company, PTT Public Company Limited, Thailand’s largest listed company, for the development and commercialization of small scale land based Gas-to-Liquid (GTL) facilities based on the Group’s microchannel reactor and catalyst technologies. (Earlier post.)
Under the terms of the agreement, PTT will provide funding of $5 million over 2 years for the development and commercialization of Oxford’s Steam Methane Reforming (SMR) technology, a key component in the GTL process. In addition, PTT will invest in microchannel reactor testing facilities, to be located at the PTT Research and Technology Institute near Bangkok, to accelerate the project. The agreement also provides a framework for future investment by PTT in other microchannel reactor applications and associated catalyst developments.
Upon completion of the development, PTT will receive certain preferential rights for commercial deployment of the Oxford GTL technology in small to medium scale land based facilities; such rights will be finalized in the form of a binding Joint Development Agreement.
We are delighted to have extended our relationship with PTT in the field of GTL to include both our microchannel reactor and catalyst technologies. Their commitment of $5 million is a strong endorsement of our business. This Agreement with PTT paves the way for deployment of our technology in land based GTL applications, and joins our existing partnerships with Toyo Engineering and MODEC for offshore GTL, and with SGCE for BTL and CTL.
—Roy Lipski, CEO of Oxford Catalysts Group
In 2008, Oxford Catalysts and PTT Public Company Limited (PTT) announced their collaboration on the evaluation and commercialization of a new chemisorption catalyst technology for upgrading natural gas. Since the importance of compressed natural gas (CNG) as a transportation fuel is rapidly rising in Thailand and other parts of Asia, this technology will help support the region’s drive towards cleaner, sulfur-free fuels. (Earlier post.)