History of Yima Joint Venture ProjectIn August 2009, SES and Yima entered into amended joint venture contracts for the gasification, methanol/methanol protein production and utility island components of the plant, collectively referred to as the Yima Joint Ventures. Government approvals were received and detailed design engineering and construction of the plant began in 2009. The project is phase one of the Maozhuang Industrial Park - a planned $4B USD industrial park in Henan Province, China. This phase one project is a $250 million integrated coal-to-methanol plant, with facilities to develop production of methanol protein. When phase one is completed, the plant is expected to produce a minimum of 300,000 tonnes of refined methanol annually. Two additional phases of coal gasification projects are planned to start at this location upon successful completion of the phase one plant. Phase two is expected to add additional capacity of 300,000 tonnes per annum of refined methanol or methanol equivalent products, and phase three is expected to add additional capacity of 600,000 tonnes per annum of refined methanol or methanol equivalent products. These three phases together make up approximately 50 percent of the planned investment at the Maozhuang Industrial park. Photographs and an artist's rendering of the Yima Joint Venture Project in China are available upon request. SES' Advanced Gasification Technology SES has the only 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, which is based upon the U-GAS® fluidized bed gasification technology licensed exclusively from the Gas Technology Institute. Its primary advantages, relative to other gasification technologies, are much greater fuel flexibility provided by the ability to use all types of coal and many coal waste products as well as renewable biomass and municipal waste feed stocks. These feed stocks which include low quality, high ash and high moisture coals are available and significantly cheaper than higher grade coals. The technology cleanly converts these feedstocks into synthesis gas (syngas) in a cost effective and environmentally friendly manner. It has low water consumption and does not produce any harmful byproducts. The technology can be modularized and installed on a small scale or large scale enabling the rapid construction of plants at a lower capital cost, and in many cases, in closer proximity to coal sources.