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HOUSTON, Aug. 13 /PRNewswire-FirstCall/ -- Synthesis Energy Systems, Inc.
("SES") (Nasdaq: SYMX), a global industrial gasification company, announced
today that the NASDAQ Stock Market has approved its application for upgrading
its exchange listing to the NASDAQ Global Market from the NASDAQ Capital
Market. SES expects to commence trading on the NASDAQ Global Market on
Monday, August 18, 2008 and will continue to trade under its current symbol,
"SYMX".
"Our ability to meet the more stringent listing qualifications for the
NASDAQ Global Market reflects the progress SES has made since listing on the
NASDAQ Capital Market in November 2007," stated Tim Vail, President and CEO of
SES. "We believe the move to the NASDAQ Global Market will bring increased
market exposure and liquidity to our shares," Vail added.
SES has a gasification plant in operation in Zaozhuang City, China and
ongoing development work with Consol Energy and North American Coal
Corporation in the U.S. and Golden Concord and YIMA in China.
About Synthesis Energy Systems, Inc.:
SES is an energy and technology company that builds, owns and operates
coal gasification plants that utilize its proprietary U-GAS(R) fluidized bed
gasification technology to convert low rank coal and coal wastes into higher
value energy products, such as transportation fuel and ammonia. The U-GAS(R)
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(R) 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, China.
For more information on SES, visit http://www.synthesisenergy.com or call
(713) 579-0600.
Forward Looking Statements
This press release includes "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. All statements, other
than statements of historical facts, included in this press release that
address activities, events or developments that SES expects or anticipates
will or may occur in the future, including such things as future capital
expenditures (including the amount and nature thereof), business strategy and
measures to implement strategy, competitive strength, goals, expansions and
growth of the Company's business and operations, references to future success,
reference to intentions as to future matters and other such matters are
forward-looking statements. These statements are based on certain assumptions
and analyses made by SES in light of its experience and its perception of
historical trends, current conditions and expected future developments as well
as other factors it believes are appropriate in the circumstances. Forward-
looking statements are subject to certain risks, trends and uncertainties that
could cause actual results to differ materially from those projected. These
include, but are not limited to, risks and uncertainties associated with our
early stage of development, the success of our development projects with
industry partners, the limited history and viability of our technology, our
results of operation in foreign countries, our ability to maintain production
from our first plant in its Hai Hua project and the sufficiency of our
internal controls. Although SES believes that in making such forward-looking
statements its expectations are based upon reasonable assumptions, such
statements may be influenced by factors that could cause actual outcomes and
results to be materially different from those projected. SES cannot assure you
that the assumptions upon which these statements are based will prove to have
been correct. SES has no intention, and disclaim any obligation, to update or
revise any forward-looking statements, whether as a result of new information,
future results or otherwise.
SOURCE Synthesis Energy Systems, Inc.
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