This order, placed in accordance with the agreements between the parties announced on 19 November 2012, is expected to generate revenues to the group of $8 million over the period of their fabrication, estimated at 18 months, with a minimum payment of $3.6 million guaranteed in 2013. At the time when they are transferred from Ventech to a plant owner, the Group expects to receive additional license and catalyst revenues.

Ventech, headquartered near Houston, Texas, is a global leader in the design and construction of modular refineries, and an early pioneer of modular GTL plants. Through its affiliate, Ventech Project Investments LP, it has $200 million available to make equity investments in energy projects, including GTL plants.

In November 2012, Oxford Catalysts and Ventech announced that they had entered into a series of agreements whereby the Group became Ventech’s preferred supplier of FT technology in North America, and Ventech was granted non-exclusive assured access to design, sell and deliver GTL plants incorporating the Group’s FT product to customers in North America. In collaboration with the Group, Ventech has developed the design for a fully integrated, shop fabricated, modular GTL plant.

Ventech’s GTL plants typically produce 20% naphtha and 80% diesel with a minimum cetane of greater than 70. The product output is 100% liquid fuel with no waste product and virtually zero sulfur content.