Matheson is to supply 100 percent of the oxygen and nitrogen needed for renewable energy provider SynGest Inc.’s worldwide BioAmmonia and BioUrea projects.
The two companies announced a strategic agreement which will see Matheson produce the gases required for each SynGest plant.
The agreement marks a new path of development for the New Jersey-based gases company, as Rick Kowey, EVP & chief marketing officer of Matheson, explained, “The SynGest/Matheson worldwide cooperation agreement represents a new model for collaboration in the advanced renewable energy products industry.”
“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”
Jack Oswald, CEO of SynGest Inc.
SynGest is focused on replacing the fossil fuel energy used in agriculture with entirely sustainable and renewable alternatives. To that end, the company is entering commercial deployment of its patent-pending biomass gasification process to produce nitrogen fertilizer (BioAmmonia and BioUrea) from renewable biomass.
Jack Oswald, CEO of SynGest Inc., said of the deal, “The global mutual cooperation agreement between Matheson and SynGest will accelerate the worldwide expansion of SynGest’s nitrogen fertilizer production capacity.”
“Matheson’s decision to invest in and support our vision is a strong vote of confidence.”
The US now imports more than 60 percent of its nitrogen fertilizer, a $150 billion worldwide market, which accounts for the single largest cost and energy input into agriculture.