(PRWEB) November 1, 2005
Oxonica, a leading UK nanotechnology company (LSE OXN.L), has been awarded the ICIS Publications Innovation Award for the Innovation with the Best Environmental Benefit. The prestigious ICIS Awards are organised by ICIS Publications, part of the ICIS Group, which is the chemical publishing arm of Reed Business International, itself a part of global publishing group Reed-Elsevier. They were sponsored by Dow Corning, which has a strong focus on innovation and R&D as part of its growth strategy.
The awards were run globally this year and involved ICIS's three weekly chemical titles: European Chemical News, Asian Chemical News and Chemical Market Reporter.
Innovation is an essential part of the chemical industry's growth strategy and the interest in these global innovation awards highlights this. The ICIS awards receive entries from around the world, from chemical majors and SMEs, and have been mentioned by previous winnners in their presentations to analysts to reflect their emphasis on R&D.
The company entered its diesel fuel additive Envirox™, a fuel borne nanocatalyst for diesel engines which reduces fuel consumption with savings of 5-10% and reduces particulate emissions by up to 15%.
John Baker, ICIS Innovations said:
“With oil prices sky high and air pollution a continuing worry, a product that not only improves fuel efficiency in diesel engines but also reduces emissions has to be a winner.”
Envirox™ has already been adopted by Stagecoach Group in the UK and in New Zealand, following a successful 12 month commercial evaluation.
The additive is cerium oxide, a well known oxidation catalyst, and one that had been shown to improve diesel combustion. Oxonica brought its nanotechnology expertise to bear to develop a very fine particulate form of the ceramic oxide and then coat this with a specific surfactant to ensure that the additive remains suspended in the diesel fuel during use.
Kevin Matthews, Oxonica’s CEO explains:
“Envirox™ modifies the combustion process of the fuel so that it burns more efficiently and productively, so less fuel is required per kilometre travelled. The additive also improves emission levels by reducing hydrocarbon and particulates in the exhaust. All this is achieved with no engine modifications whatsoever.”
Andrew Elphick, Business Director Oxonica Energy* said:
“If all HGV fleet operators in the UK were to convert to using Envirox™ in their engines, Oxonica estimates a reduction in diesel consumption in excess of 2.6 million barrels per annum. This equates to savings of in excess of 1 million tonnes per annum of carbon dioxide equivalent.”**
Oxonica is also in discussion with major oil companies and international fleet operators to extend and accelerate the adoption of Envirox, Oxonica’s award winning environmental product.
*Oxonica Energy Ltd is a subsidiary of Oxonica plc, responsible for marketing Envirox™ Fuel Bourne Catalyst
**based on 2002 data from UK Government report: ‘Greenhouse Gas Emissions from Transport’, assumes 5% fuel saving from Envirox™.
NOTES TO EDITORS
About Oxonica plc - http://www.oxonica.com
Oxonica is one of the leading European nanomaterials groups with products already launched into international markets. It was spun-out from Oxford University in 1999 and currently employs 37 professional staff.
Oxonica’s mission is to develop innovative commercial solutions for international markets using its expertise in the design and application of nanomaterials.
The company has three operating divisions: Oxonica Energy, Oxonica Healthcare and Oxonica Materials.
Commercialised products are:
Envirox™ Fuel Borne Catalyst – a fuel borne nanocatalyst for diesel engines which reduces fuel consumption with savings of 5-10% and reduces particulate emissions by up to 15%. The product has already been adopted by Stagecoach Group in the UK and in New Zealand and is distributed by DMX Technology Corporation to petroleum companies in the Philippines for use in a premium diesel.
Optisol™ UV Absorber – a photostable UV absorber that provides enhanced and longer lasting protection against UVA in sun-care and anti-ageing products. Optisol™ also reduces the formation of free radicals produced from exposure to the sun and which are implicated in premature skin ageing. Boots Group plc is the first to incorporate Optisol™ in their new Soltan Facial Sun Defense Cream for 2005.
In addition, Oxonica is working to generate a range of future product applications. These include additional fuel saving additives, marker technology for the clinical and life science diagnostics markets, further UV protection applications, including tailoring the Optisol™ product in the cosmetics markets, and new products for plastics and coatings, transparent conducting films and security markers.
Optisol™ and Envirox™ are trademarks of Oxonica.
For further information please contact:
Internal PR Contact
Sonia Bouzid, PR & Marketing Communications Manager
+44 1865 856 728
External PR Contact
Nigel Robson, Vortex PR
+44 1481 233 080
ICIS Awards Contact
+44 20 8652 3153