SES stock surged higher into the close on a patent award. This was frustrating for traders as we saw the stock explode higher but couldn’t identify the catalyst responsible for the news and so viewed the move as suspect.
Synthesis Energy Systems was granted a patent from the USPTO, according to a post to the USPTO site dated December 31, for an apparatus using multiple jets for gas delivery and methods of fluidizing. The abstract filed said: “The present invention relates to apparatuses for fluidized bed using multiple jets to introduce gas into a fluidized bed region and methods of fluidizing. The apparatus for introducing fluidizing medium to a fluidized bed reactor comprises a vessel defining a fluidized bed region and in which solid feed stock is fed, a gas distribution grid housed in the lower portion of the vessel through which a first fluidizing medium is introduced to fluidize the solid feed stock, a plurality of jets positioned through the gas distribution grid through which a second fluidizing medium is introduced into the fluidized bed region for fluidization of the solid feed stock.” You can view the USPTO patent here (note: the US Patent website will take awhile to load).