Synthesis Energy Systems, Inc. Reports Fiscal 2017 First Quarter Financial Results And Provides Business Update

HOUSTON, Nov. 14, 2016 (GLOBE NEWSWIRE) -- Synthesis Energy Systems, Inc. (SES) (NASDAQ:SYMX), the global leader in low cost, high performance clean energy gasification technology, today reported financial and operating results for its fiscal 2017 first quarter, ended September 30, 2016.

"During the first quarter of our fiscal year 2017, we have continued our focus on activities we believe will build a strong foundation for generating future earnings. We continue to make forward progress on many of our key initiatives, including the development of equity investment platforms and our expansion outside of China. We are very excited to have announced positive results from our activities in Australia. SES owns approximately 11% of Batchfire Resources, which acquired the Callide thermal coal mine in Central Queensland late last month," said DeLome Fair, SES President and CEO.

"In China, we have received the final government approval, thus finalizing the restructuring agreement of the Zao Zhuang joint venture. We are moving forward with our partner, Weijiao Group/Xuecheng Energy, on the exciting new project which would   generate hydrogen which will be used to convert tar to clean burning, ultra-low sulfur diesel fuel. We have received support from the local government to build this new project in an expanded facility outside the city proper in Zouwu Industrial Park, where our partner already has existing operations. Our initial evaluation of the project looks positive and we are now evaluating options to achieve a viable commercial structure with Weijiao," continued Ms. Fair.

"We have also progressed several nearer-term technology licensing and equipment supply opportunities. In addition to our ongoing bid to supply SGT technology and proprietary equipment for a large project in South America, we are now in advanced consideration for technology licensing and equipment supply projects in India, Europe, and through our Tianwo-SES JV. In addition, similar to our ongoing activities in Australia, we continue our efforts to identify and develop additional platforms globally," added Ms. Fair.

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