This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Synthesis Energy Systems Signs MOU With Hulunbeier Tianfu Energy For City Gas Project

HOUSTON, Oct. 23, 2013 /PRNewswire/ --  Synthesis Energy Systems, Inc. (NASDAQ: SYMX) ("SES") announced today that its subsidiary company, SES New Energy Technologies ( Shanghai) Co., Ltd., has entered into a Memorandum of Understanding ("MOU") with Hulunbeier Tianfu Energy Co., Ltd. ("Tianfu"), for the supply of SES' gasification technology, equipment and services to its 1 billion normal-cubic-meters per-year city gas project to be built in Hulunbeier, Inner Mongolia, China.


The project is to be located in the Xie'ertala Project Area of the Hulunbeier Economic and Technical Development Zone.  Tianfu has completed the required Feasibility Study Report and Environmental Impact Assessment based on using SES' gasification technology.  The project has also received approvals to proceed from both the Hulunbeier City Development and Reform Commission and the Hulunbeier City Environmental Protection Bureau.  The total project scale is a planned 1 billion normal-cubic-meters per year at an estimated cost of 3.45 billion RMB and is to be built in phases. The first phase is planned to be 330 million normal-cubic-meters and completion of phase one is estimated to occur approximately 18 months after construction starts.

Tianfu intends to use SES' gasification technology for the conversion of Inner Mongolian lignite resources to syngas.  According to the terms of the MOU, both sides have agreed to work exclusively over the next 12 months for the purpose of completing the technology licensing, equipment supply and technical service agreements.

The project leader of Tianfu, Mr. Xu Zhenzhong, said, "SES' gasification technology is one of the most advanced coal chemical technologies of the world and is especially environmentally friendly. Once completed, the project is expected to supply gas to Hulunbeier residents as well as provide gas for mining industry vehicles in the eastern region of Inner Mongolia." Mr. Xu added, "The project will promote the development and clean utilization of lignite, resolve the tight natural gas supply in Hulunbeier, and extend the industrial chain and added value from lignite, while also maximizing the benefit and the value from the lignite resources of Hulunbeier."

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs