Synthesis Energy Systems Spikes 20%: Here Is What You Need To Know

Shares of Synthesis Energy Systems, Inc. SYMX, a nano-cap provider of gasifcation technology systems and solutions to the energy and chemical industries, were trading higher by more than 20 percent early Monday afternoon. Synthesis Energy Systems detailed earlier in the morning a new strategic joint project development and investment agreement with China Environment State Investment Co (CESI). CESI is a government owned enterprise that operates under the China Ministry of Environmental Protection. The agency's purpose is to oversee development and investments in energy conservation and environmental protection. As part of the agreement, Synthesis Energy Systems will develop at least 20 projects using SES Gasification Technology (SGT) over the next 5 years. "We are excited to be working with the China Environment State Investment Company and its dynamic and forward-looking Chairman Wang Wei, and to become an integral part of the Chinese government's mandate to develop and invest in energy conservation and environmental protection. We look forward to working together on this groundbreaking and far-ranging joint venture, to help China achieve its clean energy goals," said Lorenzo Lamadrid, Synthesis Energy Systems Chairman of the Board.