Synthesis Energy Shares Hold 22% Gains on GE Deal; GE Nears 52-Week High


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Synthesis Energy Systems, Inc. ( SYMX ) shares have soared 21.7% to $1.29 after the company inked an agreement with GE Packaged Power, Inc., a subsidiary of General Electric Company ( GE ) to jointly evaluate and market a small scale power generation unit combining SYMX's gasification technology with GE's aeroderivative gas turbines.

For the past 12 months, SYMX and GE have completed a preliminary evaluation of this application of their combined technologies.

Under the terms of this agreement, the two businesses on a non-exclusive basis will complete the market evaluation and seek initial customers for this small scale power product.

SYMX shares have a day range of $1.11 - $1.49.

GE is up 1.2% at $23.36, in striking distance of their $23.90 52-week high.

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This article appears in: Investing , Commodities
More Headlines for: GE , SYMX

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