Synthesis Energy Sys (SYMX)

Description:

Synthesis Energy Systems Inc. was founded in 2003 and incorporated in Delaware. The Company builds, owns and operates coal gasification plants that utilize proprietary U-GAS fluidized bed gasification technology to convert low rank coal and coal wastes into higher value energy products. It has several advantages over commercially available competing gasification technologies, such as entrained flow and fixed bed, including ability to use all ranks of coals, many coal waste products and biomass feed stocks, which provide greater fuel flexibility, and ability to operate efficiently on a smaller scale, which enables to construct plants at a lower capital cost thus enabling the company to be a lower cost producer of syngas for energy products. Main business activities are currently focused in China. The first commercial scale coal gasification plant is located in Shandong Province, China. It also has additional projects in various stages of development in Henan Province, China and in the Inner Mongolia Autonomous Region of China. The Company's gasification plants could produce synthesis gas, or syngas, a mixture of hydrogen, carbon monoxide and other products. Depending on local market need and fuel sources, syngas could in turn be used to produce many products including methanol, dimethyl ether, or DME, glycol, synthetic natural gas, or SNG, ammonia, synthetic gasoline, steam, power and other byproducts. The Company's competitors include General Electric, Shell, Lurgi and Siemens. Its operations are subject to stringent federal, state and local laws and regulations governing the discharge of materials into the environment or otherwise relating to environmental protection.