The boss of university spin-out company Oxford Catalysts has spoken of his delight at the company's rapid development since floating on the stock exchange in the last six months.

Roy Lipski, chief executive of the company which specialises in green fuel technology, said he was "very proud" at what had been achieved and the level of interest which had been generated in the company.

He added: "It has been moving very quickly but not unmanageably so. The challenge for us is to manage the fast pace of change in the business."

When it floated on the stock exchange in April, the company raised £14m and since then has signed a £100,000 deal with steam cleaning company Proventec which could see its technology used to develop a portable street cleaner.

Other technologies can convert methanol into hydrogen gas for environmentally-friendly fuel cells, while another removes sulphur from conventional fuel, reducing pollution.

Oxford Catalysts is now in talks with more than 25 potential partners including major oil companies, coal mine operators and fuel cell companies.

A move to new offices is imminent and will be on an Oxford business park, although Mr Lipski declined to give exact details.

But he said the company was on target to recruit 25 hi-tech staff by the end of next year.

He said: "We want to stay in the area and continue our strong links with the university and we have been pleasantly surprised by the calibre of staff we are managing to attract.

"I am full of confidence for the future."

Reporting its debut interim results, the company made a pre-tax loss of £382,000 in the six months to June 30 on a turnover of £12,000.