Synthesis Energy Systems, Inc. (Nasdaq: SYMX) a global energy and gasification technology company, recently shared that it has executed a revised license agreement with the Gas Technology Institute for its U-GAS® technology rights.
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Under this new agreement, SES maintains its exclusive world-wide rights to the U-GAS® technology for all types of coals and coal/biomass mixtures with coal content exceeding 60%, and non-exclusive rights to biomass and coal/biomass blends exceeding 40% biomass. The revised agreement expands the rights and further defines the terms for SES to sub-license U-GAS® to third parties for coal, coal and biomass mixtures, or 100% biomass projects. Robert Rigdon, SES' President and CEO, said, "This is an important step for our company as it allows us to build on our operational experience with U-GAS® to more rapidly commercialize the technology and provide additional revenue for the company through royalties, component sales and services. GTI has been a great partner and over the last three decades has developed the U-GAS® technology into a robust platform for coal and biomass. Together with our U-GAS® technology engineering and plant operations experience, we believe we can establish and grow our licensing business based on the proven U-GAS® platform. We have already seen significant interest from established industry players and are working towards meaningful revenue growth over the next two to three years resulting from our licensing business." Quinton Ford, GTI's Director of Commercialization, said, "We are pleased to have entered into this expanded business relationship with SES that holds promise to bring the technology to a broader audience as well as benefiting both organizations financially. GTI is in the business of inventing and developing innovative energy technologies and has a long history of successful licensing to companies that are well-positioned to commercialize its technologies, as SES is with U-GAS®." SES is a company that specializes in n energy and technology ; builds, owns and operates coal gasification plants that utilize its proprietary U-GAS® fluidized bed gasification technology to convert usuual waste products of coal into value energy products, such as transportation fuel and ammonia.
The U-GAS® technology, which SES licenses from the Gas Technology Institute, gasifies coal 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 our ability 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) our ability to operate efficiently on a smaller scale, which enables us to construct 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.
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