HOUSTON, March 25, 2013 /PRNewswire/ -- Synthesis Energy Systems, Inc. (Nasdaq: SYMX) ("SES") has entered into an exclusive marketing and engineering agreement with Simon India Limited ("SIL") to exclusively market SES' gasification technology for projects in India.
SIL is an engineering, procurement, and construction ("EPC") company and wholly owned subsidiary of Zuari Global Ltd. of India. SES' advanced and commercially proven gasification technology is extremely well-suited for the high-ash coals that make up more than 80 percent of the domestically available coal in India.
As part of the agreement, SES will exclusively use SIL for all engineering work it performs for any Indian gasification projects that it is awarded. SES will also train SIL on its proprietary technology and process design techniques to enable SIL to eventually produce SES' engineering packages for all its Indian projects.
Robert Rigdon, president and CEO of SES, stated, "This marketing and engineering agreement with Simon represents an expansion of our marketing efforts in India. Simon is a strong partner for the execution of our engineering work for projects in India, and we look to build on that relationship to allow for Simon to be our global engineering partner. India is an excellent market for our technology, and we believe having an in-country partner with the strengths of Simon will further our capabilities to deploy our technology in this rapidly emerging market."Sharad Nandurdikar, managing director of SIL, said, "Simon is confident in the ability of SES' technology to be deployed at a great scale in India, and we are excited to partner with them to make that happen. Our engineering team in New Delhi conducted an exhaustive study of a number of other gasification technologies and found SES's technology to be the best suited for high ash Indian coals and lignites. We look forward to working with SES to develop the first project in India for SES' gasification technology." About Synthesis Energy Systems, Inc. SES provides technology, equipment and engineering services for the conversion of low rank, low cost coal and biomass feedstocks into energy and chemical products. Its strategy is to create value through providing technology and equipment in regions where low rank coals and biomass feedstocks can be profitably converted into high value products through its proprietary U-GAS ® fluidized bed gasification technology, which SES licenses from the Gas Technology Institute. U-GAS ® gasifies coal cost effectively, without many of the harmful emissions normally associated with coal combustion plants. The primary advantages of U-GAS ® relative to other gasification technologies are (a) greater fuel flexibility provided by the ability of SES to use all ranks of coal (including low rank, high ash and high moisture coals, which are significantly cheaper than higher grade coals), many coal waste products and biomass feed stocks; and (b) the ability of SES to operate efficiently on a smaller scale, which enables the construction of plants more quickly, at a lower capital cost, and, in many cases, in closer proximity to coal sources. SES currently has offices in Houston, Texas, and Shanghai, China. For more information on SES, please visit www.synthesisenergy.com or call (713) 579-0600.
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