WASHINGTON, Oct. 29, 2012 /PRNewswire/ -- Synthesis Energy Systems, Inc. (NASDAQ: SYMX) ("SES") is presenting today, here at the Gasification Technologies Conference (Wardman Park Marriott, booth #3), the significant accomplishments it has made in designing and constructing the Company's flagship Yima Joint Venture project in Henan Province, China. The presentation highlights the significant progress it has made in commercializing its technology both in China and other parts of the world.
William E. Preston, senior vice president, global business development and licensing, SES, will present the Yima project update on behalf of the Company during the conference session "Global Gasification Projects & Technology Update."
The Yima Joint Venture project, currently in commissioning, is nearing the completion of construction and preparing for first methanol production. The $250 million coal-to-methanol facility is the first phase of a planned $4 billion coal chemical complex. The joint venture was initiated in September 2009 upon completion of financing and commercial agreements which paved the way for implementation of the Company's technology in this important industrial park. The plant is designed to produce 300,000 tonnes per year of chemical grade methanol for China's large and growing chemical market.Yima Coal Industry (Group) Co. Ltd. ("Yima") is a state-owned enterprise in China and an important partner of the Company. Yima is a large, integrated coal company with extensive interests in coal mining, power generation, cement, alumina and coal to chemicals. SES' technology allows companies like Yima to efficiently monetize lower quality coal and coal waste resources for the production of valuable energy and chemicals such as methanol. "The Yima project is a significant accomplishment for the company in terms of delivering financial results, demonstrating technology performance and enabling the commercialization and adoption of our technology on a global basis," said Robert Rigdon, president and CEO, SES. "We are proud to highlight this achievement at the Gasification Technologies Conference, which is an important gathering of the world's leading industry players in the gasification space." SES' Advanced Gasification Technology SES has a unique commercially available gasification technology proven to economically process the lowest quality coal feed stocks, which represent approximately 50 percent of total recoverable global coal reserves. The company has developed significant intellectual property protecting its advanced fluidized bed gasification technology. Its primary advantages, relative to other gasification technologies, are greater fuel flexibility provided by the ability to use all types of coal (including low rank, high ash and high moisture coals, which are significantly cheaper than higher grade coals) and coal waste products and biomass feed stocks. The technology converts coal into synthesis gas (syngas) in a cost effective and environmentally friendly manner. It has low water and electricity usage and does not produce any harmful byproducts.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV