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Global partners are expanding the technical and commercial definition of the combined first-in-class technologies for specific opportunities – developing an implementation strategy that will be consistent with the government’s “Make in India” campaign HOUSTON and CHARLOTTE, N.C., Jan. 08, 2018 (GLOBE NEWSWIRE) -- Synthesis Energy Systems, Inc. (SES) (NASDAQ:SES), and Midrex Technologies, Inc. (Midrex), a subsidiary of Kobe Steel, Ltd. (ADR-OTC:KBSTY), today announced that the partners are proceeding with work to expand the technical and commercial definition of MXCOL®-SES DRI for possible commercial opportunities in the Indian market. SES is a global leader in the clean and efficient production of low-cost synthesis gas for high value energy and chemical products. Midrex is the world leader in Direct Reduction Ironmaking Technology. Midrex has engaged SES to complete a package of engineering deliverables that are focused on advancing the technical and commercial definition necessary to make proposals to build the MXCOL®-SES DRI plants in India. This exercise is scheduled to be completed in the first quarter of 2018. The fully integrated and optimized DRI solution combines the industry-leading MIDREX® Process using the MXCOL® configuration with the premier SES Gasification Technology (SGT) to produce clean syngas from local, low-quality Indian coal. The syngas is integrated into MIDREX® technology to convert iron ore into high-purity DRI, and commercialized as the MXCOL®-SES DRI process. The integration of these two technologies is of strategic importance because it offers an economical alternative to natural gas and LNG-based DRI through utilization of coal, and especially low-quality coals, to produce DRI steel products. The new study’s specific project would use Indian coal with 39% ash and 5% moisture. “Together, with our global DRI partner, Midrex, we are creating an optimized coal gasification DRI solution combining our first-in-class technologies. While this integrated technology combination has broad applicability in any region where natural gas and LNG is expensive or lacks infrastructure and availability, it has been especially well received thus far in India, a heavy steel producing nation with high gas prices and abundant low-quality coal,” said DeLome Fair, SES’s President and Chief Executive Officer. “We are excited that Midrex has advanced the marketing of the MXCOL®-SES plant concept to this stage and our engineers are working diligently towards completing the work. While the decision to construct a facility ultimately lies with the project owners, we believe that upon completion of this work we will be well positioned in the Indian market for an order commitment related to MXCOL®-SES DRI technology at some point in 2018.” “After understanding the MXCOL®-SES potential in India, related to technology and operating costs, both Midrex and SES are now proceeding jointly with the necessary work required to define an optimum financial solution for making commercial offers for MXCOL®-SES DRI projects to Indian steel makers,” said Stephen C. Montague, president and Chief Executive Officer of Midrex Technologies, Inc. “Additionally, we are defining an implementation strategy for these projects that includes significant sourcing of components within India such that our offering falls in line with the government’s