Oxford Catalysts Group PLC Annual Report and Accounts 2010

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Annual Reportand Accounts2010Oxford CatalystsGroup PLCOxford Catalysts designs and develops technology for the production of synthetic oil fromboth conventional fossil fuels and renewable sources such as bio-waste. The Group isfocused on the emerging market for distributed smaller scale production of synthetic oilvia Fischer-Tropsch (“FT”) synthesis − a market that has the potential of producing asmuch as 25 million barrels of fuel a day.The FT reaction is used when converting natural gas, coal or bio-mass into clean highperformancesynthetic oil, processes known as GTL, CTL and BTL respectively. The Groupis the recognised world leader in the design and development of high-activity catalysts andassociated novel chemical reactors for the smaller scale production of synthetic oil. (TheGroup’s reactor technology − known as microchannel process technology − is marketedunder the brand name of Velocys).Oxford Catalysts Group PLC is listed on the AIM market of the London Stock Exchange(LSE: OCG). The Group has some 80 employees with facilities near Oxford, UK andColumbus, Ohio, USA.ContentsPageChairman’s Statement 2Chief Executive’s Report 3Directors’ Report 6Corporate Governance Report 10Directors’ Remuneration Report 12Statement of Directors’ Responsibilities 15Independent Auditors’ Report 16Consolidated Income Statement 18Consolidated Statement of Comprehensive Income 19Consolidated Balance Sheet 20Company Balance Sheet 21Consolidated Statement of Changes in Equity 22Company Statement of Changes in Equity 23Consolidated Cash Flow Statement 24Company Cash Flow Statement 25Notes to the Accounts 26
Oxford CatalystsGroup PLCAnnual Reportand Accounts2010Highlights> Raised £21m before expenses through an oversubscribed equity placing in March2011> First order received from SGCE for commercial scale FT unit and fulfilled in March2011> Second order for commercial scale FT unit received post period end> GTL demonstration plant fully constructed and arrived in Brazil April 2011> Significant industry recognition with receipt of five international awards> Revenue of £7.7 million (2009: £8.7 million), reflecting transition to commercialincome> Cash* at period end of £5.7m (2009: £12.0m) before fundraisingPierre Jungels, CBE, Chairman of Oxford Catalysts, said:“2010 has been another successful year in the Group’s transition from a developmentcompany to a commercial product provider. Following the successful fundraising, OxfordCatalysts is well capitalised to continue advancing toward commercial roll-out.”“We are receiving unprecedented levels of interest in our technology as the marketenvironment for synthetic fuels continues improving. The Board looks forward to a periodof considerable progress with growing anticipation for the future.”* Defined as cash, cash equivalents, short term investments and other financial assets.1
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Oxford Catalysts Group PLC Annual Report and Accounts 2010

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