June 13, 2013
/PRNewswire/ -- Synthesis Energy Systems, Inc. (NASDAQ: SYMX) ("SES"), a global energy and gasification technology company, is forming a new business unit to help deploy its technology, equipment and services for the distributed power generation market – a business unit that SES believes has potential to grow into a half billion dollar business once fully developed over the next three years.
The new SES business unit will focus on partnering with established companies currently serving global power markets with power generation technology, engineering, equipment and construction services. This is consistent with the announcement earlier this week whereby SES will focus on its 'capital-lite' approach to accelerate the commercialization of its patented gasification technology.
SES believes that deploying its technology for power generation provides an important combination of technologies that enable existing gas turbine and gas engine power generation equipment to tap into a large, new and economical fuel source by utilizing SES' unique ability to convert low-cost coals, coal wastes, municipal wastes and other biomass waste materials into clean syngas for use as a fuel for power generation.
Because of SES' extremely wide feedstock envelope combined with lower capital cost, lower water consumption and lower operating costs as compared to conventional gasification technologies, regions of the world where clean, low-cost electricity has not previously been possible will have access to reliable power generation plants that are appropriately sized to meet local electricity needs with significantly lower fuels costs. SES believes that a large, untapped market opportunity exists in regions that lack adequate access to natural gas or are dependent on high-priced liquefied natural gas (LNG), fuel oil and conventional thermal coal fuel sources and that lack the necessary gas pipeline or adequate power grid infrastructure to support expensive and large-scale LNG, fuel oil or coal fired power plants.