Companies · Other Energy

Synthesis Energy Systems Inc

HOUSTON · Other Energy

Diligence memoA one-page analyst read on Synthesis Energy Systems Inc — recommendation, valuation, rhythm, risks.
$15.4M
Total raised · real
3
Rounds
0.3×
Latest step-up
Top 24%
Sector rank · raised
Series A
Latest stage · inferred · Sat Oct 12 2019 00:00:00 GMT+0000 (Coordinated Universal Time)

Synthesis Energy Systems Inc looks under-valued against its niche peers and is dormant on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the energy sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Under-valued
  • Modeled value is 0.44× the median modeled value of Series A Other Energy companies in 2019–2021 (76 peers) — value vs value, same stage and era.
Dormant
  • Last raise 6.7 yr ago; this sector typically re-raises about every 12 months.
  • Silent for over 3× the sector's normal cadence.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Other Energy

Synthesis Energy Systems Inc is one of 2049 Other Energy companies tracked from HOUSTON. By capital raised it ranks in the upper tier (ahead of 77% of sector peers), and mid-pack by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
10
Investors (latest)
2019-10-12
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$25M$50M$75M$100MSeries A · 2011-06-09 Raised $5.0M (real) Modeled valuation $53M (est)$5.0M$53MSeries A2011Series A · 2017-10-24 Raised $8.0M (real) Modeled valuation $85M (est)$8.0M$85MSeries A2017Series A · 2017-10-24 Raised $7.4M (real) Modeled valuation $78M (est)$7.4M$78MSeries A2017Series A · 2019-10-12 Raised $2.5M (real) Modeled valuation $26M (est)$2.5M$26MSeries A2019+$8.0M+$7.4M+$2.5MCumulative $23M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Series A$5.0M · 2011
Series A extension$8.0M · 2017
Series A extension$7.4M · 2017
Series A extension$2.5M · 2019

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 33%.

Modeled valuation trajectory
$25.9M
Base estimate est.
$3.2M
Conservative case
$140.8M
Upside case
$11.1M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Aa $4.0M–$15M round). Valuation is modeled from stage benchmarks scaled by the energy sector profile. Directional, not a quoted figure.

Series A · modeled $52.8M · 2011-06-092011Series A · modeled $84.5M · 2017-10-24Series A · modeled $77.9M · 2017-10-24Series A · modeled $25.9M · 2019-10-122019
Model inputs · modeled:benchmark-stage-stepup-v1
22%
Dilution assumption
Implied ownership sold in the financing.
52%
Survival probability
28% low · 71% high
1.28×/yr
Annual markup
1.61×/yr upside case
6.0 yr
Elapsed time used
6.7 yr actual, capped for stale marks
energy
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
33 mo
Avg between rounds
$1.9M/yr
Capital velocity
15.1 yr
On record since
2011
First round
4
Rounds on file
How it compares to the market

Benchmarked against 2049 companies in Other Energy. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 4.5× above median
This company$15.4M
Sector median$3.4M
Latest round — vs other Series A rounds in sector (real $, this stage) 0.4× of median
This company$2.5M
Sector median$5.5M
Modeled value — vs sector median (estimate, all stages) 1.5× above median
This company$25.9M
Sector median$17.0M

Raised more than 77% of sector peers (real $). Modeled value above 58% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series A) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #64 of 76.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0M$100.0MCapital raised (log)NexGrid Holdings, Inc. · Series A Raised $15.0M · modeled $147.7M (est)Swell Energy Inc. · Series A Raised $13.6M · modeled $144.2M (est)VS GP HI Solar I, LLC · Series A Raised $13.4M · modeled $141.3M (est)Black Rock Renewable Energy LLC · Series A Raised $14.8M · modeled $141.3M (est)Amply Power, Inc. · Series A Raised $16.1M · modeled $139.0M (est)MG Nitrogen Investment LLC · Series A Raised $13.0M · modeled $137.7M (est)TPE Ltd · Series A Raised $14.0M · modeled $132.1M (est)EVO Transportation & Energy Services, Inc. · Series A Raised $20.7M · modeled $120.5M (est)MT VS Mauka FIT One, LLC · Series A Raised $11.0M · modeled $115.8M (est)MT VS GP HI Solar I, LLC · Series A Raised $10.7M · modeled $113.6M (est)EVE Energy Ventures Inc. · Series A Raised $14.0M · modeled $107.8M (est)Kilowatt Labs, Inc. · Series A Raised $22.2M · modeled $105.7M (est)Synthesis Energy Systems Inc (this company) Raised $15.4M · modeled $25.9M (est)Synthesis Energy Systems Inc
CompanyStageRaised · realValue · estvs peer med.
NexGrid Holdings, Inc.Series A$15.0M$147.7M2.51×
Swell Energy Inc.Series A$13.6M$144.2M2.45×
VS GP HI Solar I, LLCSeries A$13.4M$141.3M2.40×
Black Rock Renewable Energy LLCSeries A$14.8M$141.3M2.40×
Amply Power, Inc.Series A$16.1M$139.0M2.36×
MG Nitrogen Investment LLCSeries A$13.0M$137.7M2.34×
TPE LtdSeries A$14.0M$132.1M2.24×
EVO Transportation & Energy Services, Inc.Series A$20.7M$120.5M2.05×
MT VS Mauka FIT One, LLCSeries A$11.0M$115.8M1.97×
MT VS GP HI Solar I, LLCSeries A$10.7M$113.6M1.93×
EVE Energy Ventures Inc.Series A$14.0M$107.8M1.83×
Kilowatt Labs, Inc.Series A$22.2M$105.7M1.80×
Synthesis Energy Systems Inc this companySeries A$15.4M$25.9M0.44×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Series A$5.0M2011-06-09$22.7M$52.8M85%
Series A$8.0M2017-10-24$36.4M$84.5M90%
Series A$7.4M2017-10-24$33.5M$77.9M90%
Series A$2.5M2019-10-12$11.1M$25.9M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Series A$5.0M2011-06-09
    • First recorded raise — entered as Series A.
    • 1 investor on this round.
  2. Series A$8.0M2017-10-24
    • Raised again after 77 mo — slower than the ~12 mo sector norm.
    • Round 1.6× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 16 investors on this round.
  3. Series A$7.4M2017-10-24
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 16 investors on this round.
  4. Series A$2.5M2019-10-12
    • Raised again after 24 mo — slower than the ~12 mo sector norm.
    • Round 3.0× smaller than the prior — bridge or down round.
    • 10 investors on this round.
Intelligence
2022 ~Q3
Modeled next raise · ~33mo cadence
$2.5M
Modeled next size est.range $2.5M$3.9M
0.3×
Last step-up
$1.9M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Kevin Kelly9 other2011-06
Charles Brown4 other2017-10
ROBERT RIGDON1 other2011-06
DAVID HISCOCKS2017-10
DELOME FAIR2017-10
DENIS SLAVICH2011-06
DONALD BUNNELL2011-06
HARRY RUBIN2011-06
LORENZO LAMADRID2011-06
MICHAEL STOREY2011-06
ZIWANG XU2011-06
Registry & provenance

Synthesis Energy Systems Inc is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1375063
SEC CIK
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Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

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Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
New Energy Systems, Inc.Other EnergySeries A$40.6M88%
Source Energy CoOther EnergySeed$15.5M86%
Farm to Flame Energy Inc.Other EnergyPre-Seed$707K86%
Shift Energy, LLCOther EnergySeed$23.7M86%
David Energy Systems, Inc.Other EnergySeries B$87.0M86%
Resonant Energy, LLCOther EnergyPre-Seed$5.9M86%
kWh New Energy CorpOther EnergyPre-Seed$2.7M85%
Controlled Thermal Resources Holdings Inc.Other EnergySeries A$71.4M85%
Frequently asked
How much funding has Synthesis Energy Systems Inc raised?
Synthesis Energy Systems Inc has raised approximately $15.4M in disclosed capital across 3 recorded financing rounds, aggregated from public filings.
What is Synthesis Energy Systems Inc's estimated valuation?
Provath's modeled valuation for Synthesis Energy Systems Inc is approximately $25.9M (modeled range $3.2M–$140.8M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Synthesis Energy Systems Inc at?
Synthesis Energy Systems Inc's latest modeled financing stage is Series A. Its most recent recorded round closed around Sat Oct 12.
What does Synthesis Energy Systems Inc do and where is it based?
Synthesis Energy Systems Inc operates in the Other Energy sector, based in HOUSTON.
Explore related

See where Synthesis Energy Systems Inc sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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