Synthesis Energy Shares Surge Following Joint-Marketing Deal with GE for Gasification, GE Aeroderivative Gas Turbine Technologies

Synthesis Energy Systems, Inc. ("SES") SYMX, a global energy and gasification technology company, and GE Packaged Power, Inc., a subsidiary of General Electric Company ("GE") have agreed to jointly evaluate and market a small scale power generation unit combining SES' gasification technology with GE's aeroderivative gas turbines. This application marketing agreement will focus on regions of the world where conversion of non-conventional feedstock sources such as lignite and coal wastes into synthesis gas fuel via SES' technology may be advantaged over conventional gas turbine fuel sources such as natural gas and fuel oil.   For the past 12 months, SES and GE have completed a preliminary evaluation of this application of their combined technologies.  Under the terms of this agreement, the two businesses on a non-exclusive basis will complete the market evaluation and seek initial customers for this small scale power product.  GE's fuel-flexible LM-2500+G4 aeroderivative gas turbines are ideally suited for utilizing the syngas fuel from SES's advanced fluidized bed gasification technology.  SES' proven technology efficiently converts coals and other solid fuels, including inexpensive ultra-low quality coals, coal wastes and refuse derived fuels into a synthesis gas. GE's LM-2500+G4 gas turbines can produce reliable and cost efficient power for smaller scale projects generating 50 to 100MW.