Synthesis Energy Systems and Coalworks Extend Strategic Alliance
SES Will Study Potential Cost Savings Using High Pressure U-GAS® Gasifiers for Coalworks’ Currently Planned Coal to Liquids Plant in New South Wales
Synthesis Energy Systems, Inc. (Nasdaq: SYMX) (“SES”) announced today that it is undertaking a study for its strategic partner, Coalworks Limited (ASX:CWK), to determine the potential for additional cost savings resulting from the use of high pressure U-GAS® gasifiers at Coalworks’ planned coal-to-liquids plant in Oaklands,New South Wales, Australia. The agreement follows on the companies’ 2009 strategic alliance for development of the Oaklands facility.
“We are pleased to conduct this important additional study for Coalworks as part of our ongoing strategic alliance to develop their first coal gasification and liquefaction plant at Oaklands,” stated Robert Rigdon, President and CEO of SES. “Our U-GAS® gasifiers have the potential at high pressure to further reduce costs and improve margins for the facility by increasing the throughput of our gasifiers and by better matching the needs of plant sections following gasification. We look forward to completing this study in the near term and continuing to support Coalworks in their project development.”
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, visitwww.synthesisenergy.com or call (713) 579-0600.
About Coalworks Limited
Coalworks Limited (ASX: CWK) is focused on developing coking and thermal coal projects into production. These include the Vickery South project in the Gunnedah Basin, the Ferndale project in the Hunter Valley and the Oaklands CTL project in New South Wales, Australia.
See article here.