Dec. 21, 2012
/PRNewswire/ -- Synthesis Energy Systems, Inc. (NASDAQ: SYMX) announced today that it has entered into an agreement with an undisclosed leading global technology provider to define a product that integrates the SES gasification technology with the provider's globally deployed process. The integration of SES technology with this process would allow the provider to use low cost, low quality coal as a feedstock in an environmentally favorable way.
This effort could lead to a joint venture business that would be a first of its kind in this industry. SES has targeted this industry as a key growth platform for its gasification technology.
The agreement calls for SES to lead an engineering study that will first define the optimal integration of these two advanced technologies, leading to improved efficiency, cost effectiveness, and an ability to utilize low quality coal as a feedstock. This will be followed by the completion of a basic engineering package and budgetary cost estimate for the integrated plant. These cost and performance estimates for the optimized, integrated product design will be the basis for confirming its attractiveness in target markets and regions, especially growing economies with indigenous low quality coal and high natural gas prices.
SES will be assisted in this effort by Fluor Enterprises, a leading global engineering, procurement, maintenance and construction company.
"Working with strategically important industrial enterprises to integrate complementary technologies is a key component of our vertical growth strategy that will include our supply of technology, equipment and services," stated
, president and CEO. "We will utilize our in-house gasification expertise, intellectual property, and our unique operations and maintenance experience to support the study, which we hope will form the basis of a joint venture business that will transform this growing industry."
Due to the confidentiality agreements in place, SES is not able to divulge further details regarding the agreement. The study is expected to last eight months. Following its successful completion, SES will advance the next steps with this important potential partner.