Exxon Mobil Corporation signs agreement with Synthesis Energy Systems

Sep 30, 2008 (M2 EQUITYBITES via COMTEX) -- SYMX | Quote | Chart | News | PowerRating -- Exxon Mobil Research and Engineering Company, the research and engineering arm of Exxon Mobil Corporation (NYSE:XOM), an oil, natural gas, and petrochemicals company, said on 29 September that it has executed an agreement with Synthesis Energy Systems (SES) for up to 15 Methanol to Gasoline technology (MTG) licenses.

SES will assign the first license to a project near Benwood, West Virginia. This approximate 7,000 barrel per calendar day unit will be based on commercially proven MTG technology. MTG converts crude methanol directly to low sulphur, low benzene gasoline that can be sold directly or blended with conventional refinery gasoline.The same technology can also be used for methanol from other sources such as coal, petcoke or biomass. The SES projects will gasify the coal, convert the synthetic gas to methanol and convert the methanol to gasoline via the MTG process.

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