Synthesis Energy Systems (“SES”) (NASDAQ: SYMX) shares ticked 8% higher after the company said it has entered into a definitive Technology License Agreement with Australian Future Energy Pty Ltd (“AFE”) for a large-scale project to be located in Australia. Per the agreement, SES will collect fees based on the licensed capacity for the project, and for the Process Design Package (PDP), totaling $27 million. Additionally, the entire package of technology, services and equipment is anticipated to provide SES with revenue of approximately $150 million. The company will immediately begin providing technical services to AFE related to the development of the project. The company’s CEO, Delome Fair, will hold a live conference webcast today at 4:15 p.m. ET. “AFE has grown into the most advanced model of our cleaner, lower carbon energy platform, with potential for multiple attractive projects that can result from the highly advantaged economics of connecting coal ownership with projects using our technology. Simultaneously, we are pursuing this platform model in other regions of the world that have abundant coal and limited access to affordable natural gas,” SES president and CEO DeLome Fair stated in the news release.
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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. For more information, please visit: www.synthesisenergy.com.
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