| CATEGORY: AIM BULLETIN SECTOR: CHEMICALS |
Oxonica revs up after successful fuel test |
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Mon 18 Feb 2008
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LONDON (SHARECAST) - Shares in nanomaterials specialist Oxonica doubled on Monday after another successful trial of its Envirox fuel borne catalyst.
The company hooked up with bus and trains group Stagecoach in the latter half of 2007 to measure the effect of Envirox on 550 Stagecoach vehicles operating in the north-west of England. The trial demonstrated a statistically significant fuel saving of 4.3% after 3 months.
The results back up the findings of an earlier test performed in conjunction with Stagecoach in 2004 which resulted in Stagecoach adopting the product across its UK fleet. That trial demonstrated fuel savings of more than 5% on vehicles operating in the north-west of England and London.
Following the results of the latest trial Stagecoach said it will continue to use the product across its 7,000 vehicle UK bus fleet.
Oxonica also revealed two major distribution deals in Germany and Russia, both of which have generated initial sales in 2008.
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