Synthesis Energy Systems, Inc. Announces Successful Completion of 4-System Performance Testing at Largest Capacity Aluminum C...
July 24 2017 - 9:00AM
Synthesis Energy Systems, Inc. (SES) (NASDAQ:SYMX), a global leader
in clean and efficient production of low-cost synthesis gas for
high value energy and chemical markets, today announced that the
largest capacity industrial syngas facility for Aluminum
Corporation of China Limited (CHALCO) (NYSE:ACH); (HKEx:2600);
(SSE:601600), with four SGT systems, CHALCO Henan, has successfully
completed performance testing. This concludes successful
performance testing at all seven SGT systems installed for CHALCO.
SES Gasification Technology (SGT) is supplying stable and reliable
industrial synthesis gas to three CHALCO aluminum hydroxide
processing facilities, in Henan, Shanxi and Shandong provinces.
“We are pleased with the continuing excellent
performance of our clean energy technology. The main parameters,
including syngas yield, syngas heating value, carbon in ash and
steam output have all reached or exceeded the designed values,”
said DeLome Fair, SES’s President and CEO. “This latest milestone
achievement at the largest capacity SGT project to date comes as we
are in negotiations for similar and larger clean energy projects
around the world. Our proprietary technology’s clean synthesis gas
replaces expensive natural gas for numerous energy and chemical
uses, including industrial fuel.”
The Aluminum Corporation of China’s CHALCO Henan
facility, with four SGT systems has a syngas capacity of 120,000
Nm3 per hour. The initial start-up of the facility was reported to
be complete in April 2017. The three-facility Aluminum Corporation
of China order was secured by Tianwo-SES Clean Energy Technologies
Co., Ltd., SES’s joint venture with Suzhou THVOW Technology Co.,
Ltd. (THVOW) (Shenzhen listing code:002564). Tianwo-SES provided
the SGT technology design and proprietary gasification equipment
for CHALCO’s alumina upgrade projects with a total of seven SGT
systems now in operation for the customer: CHALCO Henan, CHALCO
Shanxi, and CHALCO Shandong.
About Synthesis Energy Systems,
Inc.
Synthesis Energy Systems (SES) is a
Houston-based technology company focused on generating clean,
high-value energy from low-cost and low-grade coal, biomass and
municipal solid waste through its proprietary technology for
conversion of these resources into a clean synthesis gas (syngas)
and methane. SES’s proprietary technology enables the production of
clean, low-cost power, industrial fuel gas, chemicals, fertilizers,
transportation fuels, and substitute natural gas, replacing
expensive natural gas-based energy. SES’s technology can also
produce high-purity hydrogen for cleaner transportation fuels. SES
enables greater fuel flexibility for both large-scale and efficient
small- to medium-scale operations close to fuel sources. Fuel
sources include low-rank, low-cost high ash, high moisture coals,
which are significantly cheaper than higher grade coals, waste
coals, biomass, and municipal solid waste feedstocks. SES: Growth
With Blue Skies. For more information, please visit:
www.synthesisenergy.com.Forward-Looking
Statements
This press release includes "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. All statements other than statements of
historical fact are forward-looking statements. Forward-looking
statements are subject to certain risks, trends and uncertainties
that could cause actual results to differ materially from those
projected. Among those risks, trends and uncertainties are the
ability of our project with Yima to produce earnings and pay
dividends; our ability to develop and expand business of the TSEC
joint venture in the joint venture territory; our ability to
develop our power business unit and our other business verticals,
including DRI steel, through our marketing arrangement with Midrex
Technologies, and renewables; our ability to successfully develop
the SES licensing business; the ability of the ZZ Joint Venture to
retire existing facilities and equipment and build another SGT
facility; the ability of Batchfire and AFE management to
successfully grow and develop their Australian assets and
operations, including Callide and Pentland; the economic conditions
of countries where we are operating; events or circumstances which
result in an impairment of our assets; our ability to reduce
operating costs; our ability to make distributions and repatriate
earnings from our Chinese operations; our ability to successfully
commercialize our technology at a larger scale and higher
pressures; commodity prices, including in particular natural gas,
crude oil, methanol and power, the availability and terms of
financing; our customers’ and/or our ability to obtain the
necessary approvals and permits for future projects, our ability to
raise additional capital, if any, our ability to estimate the
sufficiency of existing capital resources; the sufficiency of
internal controls and procedures; and our results of operations in
countries outside of the U.S., where we are continuing to pursue
and develop projects. Although SES believes that in making such
forward-looking statements our expectations are based upon
reasonable assumptions, such statements may be influenced by
factors that could cause actual outcomes and results to be
materially different from those projected by us. SES cannot assure
you that the assumptions upon which these statements are based will
prove to have been correct.
Contact: MDC GroupInvestor
Relations:David CastanedaArsen
Mugurdumov414.351.9758IR@synthesisenergy.com
Media Relations:Susan
Roush805.624.7624PR@synthesisenergy.com
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