Synthetic fuel developer Oxford Catalysts is set to receive a £21m cash injection.
The company, based at Milton Park, near Didcot, will raise the money through a share placement which will be split equally between new and existing investors as well as directors.
A total of 26,250,000 ordinary shares priced at 80p each are expected to go on the Alternative Investment Market (AIM) on March 18.
Chief executive Roy Lipski said: “The additional funds will help us accelerate the commercialisation and sales of our technology products.
“We warmly welcome our new institutional and other shareholders and, at the same time, I would like to thank our existing shareholders for their continued support at what promises to be an exciting time for the group.”
Oxford Catalysts specialises in technology which converts natural gas, coal or organic material into clean, high performance fuels and it is estimated that up to 25 million barrels of fuel a day could be produced once a commercial scale is reached.
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