Contact Information: Contact: Synthesis Energy Systems, Houston, Texas Suzanne M. McLeod Manager, Investor Relations (713) 579-0602 suzanne.mcleod@synthesisenergy.com
SES, Hai Hua Waste Coal-to-Methanol Gasification Plant Achieves Substantial Completion
Plant Construction Moves to Commissioning and Operating Phase for Q407 Project Completion
| Source: Synthesis Energy Systems
HOUSTON, TX--(Marketwire - October 9, 2007) - Synthesis Energy Systems, Inc. ("SES" or the
"Company") (OTC : SYMX ) announced that SES (Zaozhuang) New Gas Company,
Ltd., its joint venture with Shandong Hai Hua Coal & Chemical Company Ltd.
("Hai Hua"), achieved substantial completion on its 28,000 normal cubic
meters per hour of synthesis gas ("syngas") coal gasification facility in
Shandong Province, China.
David Nicoll, Senior Vice President Engineering of SES, stated, "This marks
a significant milestone in the development of our first U-GAS®
gasification facility in China. Despite an abnormally wet summer in China,
we were able to meet this challenging project deadline on time. With
substantial completion behind us, we have now begun commissioning process
units and heating the gasification blocks in preparation of producing
commercial syngas at this facility which, when completed, will be the only
commercial scale gasification plant of its kind in operation."
Added Donald Bunnell, President and CEO of SES - Asia Pacific, "Like our
other two coal-to-chemical projects now underway in China and in various
stages of development, we believe that this project will utilize China's
abundant, low value coal reserves to help meet a growing need for clean,
affordable non-petroleum based fuels and chemicals to fuel a growing
economy."
This plant will use SES' licensed U-GAS® technology to convert low-cost
waste coal into syngas. Hai Hua, an independent producer of metallurgical
coke, coal gas and methanol, will use the syngas produced from the coal
gasification facility in its 100,000 tonne per year methanol plant, as fuel
in its coke ovens and for its on-site power generation facility. This
project continues to target initial syngas sales to Hai Hua in the fourth
quarter of 2007. Future expansion plans would increase capacity to
accommodate a planned increase in methanol production by Hai Hua, and to
meet other gas and chemical demands.
About Synthesis Energy Systems
Synthesis Energy Systems, Inc. is an energy and technology company that
deploys proprietary systems and technology to gasify low value fuels to
replace high cost energy and chemical products sold to major global
markets. The U-GAS® technology, which the Company licenses from the Gas
Technology Institute, is designed to turn high-ash coals and waste coal
products into high value synthesis gas for use in power and chemical
applications. The technology gasifies coal without many of the harmful
emissions associated with coal combustion plants. SES currently has
offices in Houston, Texas, Shanghai and Beijing, China. For more
information on SES, visit www.synthesisenergy.com or call (713) 579-0600.
Forward-Looking Statements
Except for historical information contained herein, the matters discussed
in this press release contain 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 that involve substantial
risks and uncertainties. When used in this press release and in any
documents incorporated by reference herein, the words "expects," "will" and
similar expressions identify certain of such forward-looking statements.
Actual results, performance, or achievements could differ materially from
those contemplated, expressed, or implied by the forward-looking statements
contained herein. These forward-looking statements are based largely on the
expectations of SES and are subject to a number of risks and uncertainties
that are subject to change based on factors which are, in many instances,
beyond SES's control. These include, but are not limited to, risks and
uncertainties associated with: our early stage of development, the limited
history and viability of our technology, our results of operation in
foreign countries and the successful completion and expansion of our Hai
Hua project. SES cautions that the foregoing factors are not exclusive.
SES assumes no obligation to update the information contained in this press
release.