MATHESON to exclusively supply 100% of SynGest's oxygen and nitrogen requirements
Basking Ridge, NJ – July 24, 2012 – MATHESON and SynGest Inc. announced that the two companies have agreed to enter into a strategic agreement for MATHESON to supply 100% of the oxygen and nitrogen for SynGest's worldwide BioAmmonia and BioUrea projects. Under the intended arrangement, MATHESON will produce the oxygen and nitrogen required by each SynGest plant.
"The SynGest / MATHESON worldwide cooperation agreement represents a new model for collaboration in the advanced renewable energy products industry," said Rick Kowey, EVP & Chief Marketing Officer of MATHESON. "Having SynGest as a strategic partner will provide an enormous leveraged opportunity for Matheson to expand its global industrial gas business."
"The global mutual cooperation agreement between MATHESON and SynGest will accelerate the worldwide expansion of SynGest's nitrogen fertilizer production capacity," said Jack Oswald, CEO of SynGest Inc. "MATHESON's decision to invest in and support our vision is a strong vote of confidence."
About SynGest Inc.
SynGest Inc. (www.SynGest.com) is focused on replacing the fossil fuel energy used in agriculture with entirely sustainable and renewable alternatives. To that end, SynGest is entering commercial deployment of its patent-pending biomass gasification process to produce nitrogen fertilizer (BioAmmonia and BioUrea) from renewable biomass. The U.S. now imports more than 60% of its nitrogen fertilizer, a $150 billion worldwide market, which accounts for the single largest cost and energy input into agriculture. The company is headquartered in San Francisco, CA with engineering and business development offices near Chicago, IL and Des Moines, IA. SynGest has entered into strategic relationships with Honeywell Process Solutions, The Weitz Co., Unitel Technologies, Matheson Tri-Gas.
MATHESON is a single source for industrial, medical, specialty and electronic gases, gas handling equipment, high performance purification systems, engineering and gas management services, and on-site gas generation with a mission to deliver innovative solutions for global customer requirements. MATHESON is the largest subsidiary of the Taiyo Nippon Sanso Corporation Group, the largest Japanese supplier of industrial gases and one of the five largest suppliers of industrial, specialty, and electronics gases in the world.
Beth Sullivan, MATHESON, [email protected] , +1.215.648.4026
Christine Scully, MATHESON, [email protected], +1.201.825.1331
Jack Oswald, CEO, SynGest, Inc., [email protected] , +1.415.986.8300