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Abstract: Fischer–Tropsch catalysts, based on cobalt, are complex materials containing the catalyst support and reduction and structural promoters in addition to the cobalt metal itself. While this basic description covers both modern FT catalyst and those first commercialised, in Germany in 1930s, modern FT catalysts have vastly improved performance. While such improvements owe much to modern materials and manufacturing methods, the role of advanced characterisation techniques cannot be underestimated. Modern techniques discern details of catalyst structure that were not available during the early pioneering work, they guide current developments and offer the prospect of designing tailored catalysts. [Copyright &y& Elsevier]