Synthesis Energy Systems, Inc. (SES) (Nasdaq:SYMX) today announced
that its Jiangsu Tianwo-SES Clean Energy Technologies Ltd. (TSEC)
China joint venture partner, Zhangjiagang Chemical Machinery Co.,
Ltd. (ZCM) (Shenzhen listing code:002564), has secured orders of
more than RMB 650 million (US$105 million) for three industrial
syngas supply plants, which will utilize SES gasification
technology for seven gasification systems. The agreement, announced
on December 8, 2014, is between Aluminum Corporation of China,
Shandong Branch (CHALCO) (NYSE:ACH) (HKEx:2600) (SSE:601600),
China's largest alumina and primary aluminum producer, and ZCM's
subsidiary, Innovative Coal Chemical Design Institute (Shanghai)
Co. Ltd. (ICCDI). ICCDI will serve as the general contractor
providing all engineering and construction of the three projects.
The new gasification plants will be built to provide a total of
approximately 175,000 normal cubic meters (NCM) per hour of
industrial syngas as a clean energy fuel for three existing
aluminum manufacturing plants, located in the Shandong, Henan and
Shanxi provinces, south of Beijing.
Additionally, ZCM announced that these projects represent the
start of a new approach to the coal chemical industry in China, and
will further the utilization of SES's leading clean coal
gasification technology that enables the economic production of
clean synthesis gas from low-quality coal. ZCM added that, in
addition to meeting the end-user's coal gas requirements, SES
Gasification Technology provides customers with high-value cleaner
energy, to help solve the current environmental problems,
importantly speeding up the development of the clean energy
industry.
"We congratulate our China JV partner, Zhangjiagang Chemical
Machinery, on securing this award for three gasification projects
with Aluminum Corporation of China," said Robert Rigdon, SES
President and CEO. "We are glad to be making progress in China,
expanding our installed base from five to 12 gasifier systems and
moving forward with our vision of growth with blue skies.
Additionally, this helps validate our decision to joint venture our
technology earlier this year in China, and we believe this award
opens up a market segment for new plants and the retrofit of large
numbers of existing facilities in the region, supplying clean and
economical fuel gas to numerous industries."
About Synthesis Energy Systems, Inc.
Synthesis Energy Systems (SES) is a Houston-based technology
company focused on bringing clean high-value energy to developing
countries from low-cost and low-grade coal, biomass and wastes
through its proprietary gasification technology based upon U-GasĀ®,
licensed from the Gas Technology Institute. The SES Gasification
Technology 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, many coal waste products, and biomass feedstocks. For more
information, please visit: www.synthesisenergy.com.
About Zhangjiagang Chemical Machinery Co.,
Ltd.
Zhangjiagang Chemical Machinery Co., Ltd. (ZCM) is the leading
manufacturer of pressure vessels in China and a leading equipment
supplier to the coal and chemical sectors. It has served China's
petro-chemical, coal-chemical, refinery, metallurgy, green energy,
nuclear and offshore industries for more than four decades. ZCM has
more than 3,000 employees across its four manufacturing plants:
Linjiang and Chengyang Plants located in Zhangjiagang, Jiangsu
Province; Urumchi and Ili Plants located in the Sinkiang Autonomous
Area. It also owns and operates port facilities on the Yangtze
River, 100km west of Shanghai. ZCM has received certifications from
the H.S.E (Health, Safety, & Environment) and ASME (American
Society of Mechanical Engineers). Their clients include Shell, GEA,
CB&I, Lurgi, Halder Topsoe, KBR, BP, Mitsubishi, SINOPEC, CNPC,
and CNOOC. ZCM is a publicly listed company, listed on the Shenzhen
Exchange since 2011 (Shenzhen listing code:002564). For more
information, please visit: www.zcmchina.com
About Jiangsu Tianwo-SES Clean Energy
Technologies Ltd.
Jiangsu Tianwo-SES Clean Energy Technologies Ltd. (TSEC) is a
joint venture between Synthesis Energy System's wholly owned
subsidiary, SES Asia Technologies, Ltd. and Zhangjiagang Chemical
Machinery Co., Ltd. (ZCM). The joint venture was formed to bring
clean energy technologies and turnkey SES gasification systems to
China and select Asian markets, combining SES' advanced proprietary
gasification technology with the market reach of one of China's
leading coal-chemical equipment manufacturers. The joint venture's
target markets also include Indonesia, Malaysia, Mongolia, the
Philippines, and Vietnam. SES owns 35%, and ZCM owns 65%, of
TSEC.
About Innovative Coal Chemical Design
Institute (Shanghai) Co., Ltd.
Innovative Coal Chemical Design Institute (Shanghai) Co., Ltd.
(ICCDI) is based on the restructuring of Coking Design Institute of
Shanghai Pacific Chemical Company affiliated Shanghai Huayi Group
which is the largest and oldest chemical group under Shanghai
municipal government. On October 15, 2010, ICCDI was transformed
from a state-owned company into private one, and is 95% owned by
Zhangjiagang Chemical Machinery Co., Ltd. (ZCM). ICCDI is a Class-A
design institute with class-A license in chemicals design,
class-A license in engineering consulting and class-A license in
Evaluation on energy saving. For more information on ICCDI, visit:
http://www.iccdi.com.cn/en/.
About Aluminum Corporation of China Limited
(CHALCO)
Aluminum Corporation of China Limited (CHALCO) is China's
largest alumina and primary aluminum producer and the world's
second largest alumina producer. CHALCO was established as a joint
stock limited company in the People's Republic of China on
September 10, 2001 by way of promotion by Aluminum Corporation of
China (CHINALCO), Guangxi Investment (Group) Co., Ltd. and Guizhou
Provincial Materials Development and Investment Corporation. With a
registered capital of RMB 11.049 billion, CHALCO owns ten branches,
one research institute, and 12 subsidiaries. It was listed on the
New York Stock Exchange, Inc. and the Hong Kong Stock Exchange on
December 11 and 12, 2001, respectively (NYSE:ACH) (Hong Kong
listing code:2600) (Shanghai Stock Exchange listing code:601600).
For more information on CHALCO, visit:
http://www.chalco.com.cn/zlgfen/index.htm.
SES 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 ZZ
joint venture to effectively operate XE's methanol plant and
produce methanol; the ability of our project with Yima to produce
earnings and pay dividends; our ability to develop and expand
business of the ZCM joint venture in the joint venture territory;
our ability to develop the SES power business unit and marketing
arrangement with GE 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; our ability to reduce operating costs; our
ability to make distributions and repatriate earnings from our
Chinese operations; our limited history, and viability of our
technology; commodity prices, and the availability and terms of
financing; our ability to obtain the necessary approvals and
permits for future projects; our ability to raise additional
capital, if any, and 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 Group |
|
Investor Relations: |
David Castaneda |
Arsen Mugurdumov |
414.351.9758 |
IR@synthesisenergy.com |
|
Media Relations: |
Susan Roush |
747.222.7012 |
PR@synthesisenergy.com |
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