Synthesis Energy Systems announces Chinese gasification partnership

In Texas, Synthesis Energy Systems, Inc. (SES) announced a strategic Joint Project Development and Investment Agreement with China Environment State Investment Co., Ltd (CESI). CESI is a state-owned enterprise established in Beijing under the China Ministry of Environmental Protection that is charged with, and funded to, develop and invest in the energy conservation and environmental protection industry. SES and CESI have agreed to develop, jointly invest, and build a total of no less than 20 projects using SES Gasification Technology (SGT) over the next five years. Further, SES and CESI are targeting to bring a minimum of two projects through development within 12 months. Equity in the projects for investment by SES and CESI is expected to be owned 51% CESI, and 49% SES through SES’s wholly owned Hong Kong subsidiary, SES Clean Energy Investment Holdings Limited. This is the first of several equity participation collaborations SES is working on with governments and leading companies in China and internationally.