Synthesis Energy Systems (SYMX) Revises U-GAS Tech Rights Agreeement with Gas Tech Institute
Synthesis Energy Systems, Inc. (NASDAQ: SYMX) announced today that it has executed a revised license agreement with the Gas Technology Institute for its U-GAS technology rights.
Under the revised 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.
With the reliable operations of SES' 95%-owned Hai Hua plant in China this year, and its success gasifying difficult fuels such as high-ash coal washing wastes, a high ash sub-bituminous coal and most recently a lignite coal, SES is seeing significant interest from companies in the U.S., China, India and Australia for licenses to use the technology for both biomass and coal applications. Under the previous agreement with GTI, SES had limited rights to sublicense U-GAS to independent third parties. The revised agreement enables SES to move forward quickly with establishing a licensing business. As part of its third-party licensing business, SES also plans to provide key technology components and engineering services.
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