Oxford Catalysts Group, a clean synthetic fuel producer, has announced the signing of an agency agreement with Tecnoil Comércio e Representações in order to develop its business in Brazil.
The Oxford spin-out, founded in 2004, is currently seeking to accelerate projects in Brazil as it looks to take a stake in the country’s developing oil and gas industry.
Roy Lipski, chief executive of Oxford Catalysts Group, said: “We’re delighted to be working with Tecnoil whose track record in Brazil is truly impressive. We’re excited by the prospects for smaller scale Gas-To-Liquid (GTL) in this region, both onshore and offshore.”
Atilio Somaglino, chief executive of Tecnoil, said: “We evaluated the various suppliers of smaller scale GTL and are very pleased to be working with Velocys, the leaders in this market. We look forward to helping them realise the potential of GTL in Brazil.”
In addition, Oxford Catalysts announced that from the 25th of September, it will be trading under the name Velocys. The decision comes after Catalysts acquired Velocys in 2008 yet maintained both company names, leading to confusion by some in financial and industrial sectors.
