Synthesis Energy Systems, Inc. Announces Yima Joint Venture Plant Achieves Formal Safety Production Permit
November 21 2017 - 9:00AM
Synthesis Energy Systems, Inc. (SES) (NASDAQ:SYMX), a global leader
in the clean and efficient production of low-cost synthesis gas for
high value energy and chemical products, announced that its Yima
Joint Venture plant has completed the required safety testing and
has successfully received its safety production permit from the
Henan government. The project, located in China’s Henan Province,
is a joint venture between SES and state-owned Yima Coal Industry
Group Co. Ltd, a large integrated coal company. The JV is owned 75%
Yima Coal and 25% SES. The coal-to-methanol facility has three SES
Gasification Technology (SGT) systems producing syngas for methanol
production with a total methanol production capacity of 330,000
metric tons per year.
“This is another example of the recent improved
operations at the Yima JV, resulting in longer periods of
production at design capacity,” said DeLome Fair, SES’s President
and CEO. “This is the best year of operation that the Yima facility
has had since it began operations. The receipt of the safety permit
is required for Yima to renew its business operating license for
the sale of methanol. With this renewed license in hand, the plant
will have the flexibility to broaden its customer base and optimize
its methanol pricing.”
For the period December 2016 through September
2017, the Yima JV plant generated almost 195,000 metric tons of
pure methanol.
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.
About Yima Coal
Industry Group Co. Ltd.
Yima Coal Industry Group Co. Ltd. is a
subsidiary of Henan Energy and Chemical Group, a large integrated
coal company owned by the Chinese government, which also owns Henan
Coal Chemical, the other large coal mining group in China’s Henan
Province. The two subsidiaries have a combined annual coal
production capacity of more than 100 million metric tons. Key
market segments Yima Coal Industry Group is involved in are coal
mining and washing, coal-to-chemicals and aluminum smelting, with
22 mines located in six provinces including Henan, Qinghai,
Xinjiang, Shanxi, Inner Mongolia and Guizhou, as well as
Australia.
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 and are subject to
certain risks, trends and uncertainties that could cause actual
results to differ materially from those projected. 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 be correct. Please refer to our latest Form
10-K available on our website at www.synthesisenergy.com.
Contact: MDC GroupInvestor
Relations:David CastanedaArsen
Mugurdumov414.351.9758IR@synthesisenergy.com
Media Relations:Susan
Roush805.624.7624PR@synthesisenergy.com
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