Syntroleum and Sinopec Develop Fischer-Tropsh Procedure in China

Thursday, February 15, 2007

While reporting a smaller Q4 06 loss when comparing it with last year’s lost over the same period, Syntroleum Corp. announced it has signed a deal with Chinese refiner Sinopec Corp. to boost its synthetic fuel technology in that country.

Syntroleum’s Chief Executive Jack Holmes said the companies recently signed a memorandum of understanding (MOU) to advance Fischer-Tropsh technology in China, a procedure which converts gas and coal into liquid fuel. The MOU calls for Sinopec to make available $100 million to Syntroluem over the next five years to back up the implementation of the new procedure.

A study for developing two related plants in China will be carried out. Both plants will be fully capitalized by Sinopec and will constitute the basis for the companies to jointly market the combined Fischer-Tropsh technology applications to third parties in China.

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Syntroleum and Sinopec Develop Fischer-Tropsh Procedure in China

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Syntroleum and Sinopec Develop Fischer-Tropsh Procedure in China

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