Synthesis Energy Systems announces China platform
Apr. 3, 2012, Houston, TX - Synthesis Energy Systems, Inc. has announced that it will create a new China business platform where technology product packages can be sold in China and to western countries.
April 3, 2012 By PR Newswire
Apr. 3, 2012, Houston, TX – Synthesis Energy Systems, Inc. has announced that it has decided to create a new China
business platform focused on generating revenues and earnings via sales
of high margin technology and equipment packages into a broad range of
industry verticals including steel, coal to chemicals and coal to fuels,
as well as the production of synthetic natural gas, a competitive
energy source relative to LNG. The new China
platform will also pursue the establishment of the first commercial
scale renewable biomass to power/fuels facility of its kind in China where technology product packages can be sold in China
and to western countries. SES believes that these industry verticals
will benefit from its U-GAS gasification technology, which enables
companies to reduce costs through the use of low cost feed-stocks and to
deliver clean energy or chemical products.
In addition to providing these high value product packages, the China
platform will work to ensure these new efforts are sufficiently
capitalized to rapidly deploy the growth plans, ideally without dilution
to the SES parent company.
To assist with the development of its China initiative, SES has hired Roth Capital Partners. Roth Capital Partners, a Newport Beach, California-based investment banking firm with a Shanghai Representative Office and an office in Hong Kong, has extensive experience working with companies operating in China. As part of this effort, Roth will work with several parties that have already indicated interest in partnering with the new China platform. Roth will also work with the China platform to develop a strategy to separately list the platform in the future.
ZJX and its principals have also indicated their strong support for the new China platform and their interest in identifying opportunities to bring to the platform to rapidly enhance its value.
Robert Rigdon, CEO of SES, commented, "Our enthusiasm over our Company's prospects in China has never been greater. We believe our new China platform will enable us to grow more quickly in China
and to generate revenues and earnings. Separately, I am pleased to
report that our joint venture project in Yima City, is expected to
become operational during the third quarter of this year. Recently, Lorenzo Lamadrid,
Chairman of the Board of SES, and senior executives of Yima Coal
Industrial Group Co., Ltd. ("Yima") toured the site at Yima City.
Following the tour, they expressed strong and enthusiastic support for
the success of the joint cooperation on this important project,
including the planned second project at that location, as well as Yima's
planned major projects in Xinjiang and Inner Mongolia."
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 and SRS, visit www.synthesisenergy.com or call (713) 579-0600.
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