Xebec Announces Organizational Changes
February 12 2021 - 7:50AM
Xebec Adsorption Inc. (TSX: XBC)
(“
Xebec” or the “
Corporation”), a
global provider of clean energy solutions for renewable and low
carbon gases, today announced that effective immediately, Mr.
Marinus Van Driel, who joined Xebec through its recent acquisition
of HyGear, has been appointed to lead Xebec’s global hydrogen
operations as the new President for the Global Hydrogen Group, in
addition to his role as President for Xebec Europe. This is the
first appointment in a series of planned management changes and
appointments, as the Corporation reorganizes to allow for future
growth.
Xebec also announced that Dr. Prabhu Rao is
leaving Xebec in his capacity as Chief Operating Officer effective
immediately. Mr. Rao continues to be a director of the Corporation
but is not expected to be nominated for re-election at the
Corporation’s upcoming annual meeting of shareholders. Mr. Rao
served as the Chief Operating Officer of the Corporation since
March 2017. The Corporation expects to replace Mr. Rao with a new
Chief Operating Officer in due course.
About Xebec Adsorption
Inc.Xebec is a global provider of clean energy solutions
for renewable and low carbon gases used in energy, mobility and
industry applications. The company specializes in deploying a
portfolio of proprietary technologies for the distributed
production of hydrogen, renewable natural gas, oxygen and nitrogen.
By focusing on environmentally responsible gas generation, Xebec
has helped thousands of customers around the world reduce their
carbon footprints and operating costs. Headquartered in Québec,
Canada, Xebec has a worldwide presence with four manufacturing
facilities, seven Cleantech Service Centers and three sales offices
spanning over four continents. Xebec trades on the Toronto Stock
Exchange under the symbol (TSX: XBC). For more
information, xebecinc.com.
Cautionary Statement This news
release contains forward-looking statements and forward-looking
information (together, “forward-looking statements”) within the
meaning of applicable securities laws. All statements, other than
statements of historical facts, are forward-looking statements, and
subject to risks and uncertainties. Generally, forward-looking
statements can be identified by the use of terminology such as
“plans”, “seeks”, “expects”, “estimates”, “intends”, “anticipates”,
“believes”, “could”, “might”, “likely” or variations of such words,
or statements that certain actions, events or results “may”,
“will”, “could”, “would”, “might”, “will be taken”, “occur”, “be
achieved” or other similar expressions. Forward-looking statements
also include, but are not limited to, the statements regarding
Xebec’s future appointment of a new Chief Operating Officer.
Forward-looking statements, including statements concerning future
capital expenditures, revenues, expenses, earnings, economic
performance, indebtedness, financial condition, losses and future
prospects as well as the expectations of management of Xebec with
respect to information regarding the business and the expansion and
growth of Xebec operations, involve risks, uncertainties and other
factors that could cause actual results, performance, prospects and
opportunities to differ materially from those expressed or implied
by such forward-looking statements. Forward-looking statements are
subject to business and economic factors and uncertainties, and
other factors that could cause actual results to differ materially
from these forward-looking statements, including the relevant
assumptions and risks factors set out in Xebec’s public documents,
including in the most recent annual management discussion and
analysis and annual information form, filed on SEDAR at
www.sedar.com. Furthermore, should one or more of the risks,
uncertainties or other factors materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those described in forward-looking statements or information.
Although Xebec believes that the assumptions and factors used in
preparing the forward-looking statements are reasonable, undue
reliance should not be placed on these statements, which only apply
as of the date of this news release, and no assurance can be given
that such events will occur in the disclosed times frames or at
all. Except where required by applicable law, Xebec disclaims any
intention or obligation to update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise.
Related links:
https://www.xebecinc.com
Media Inquiries:
Public Relations for Xebec
Victor Henriquez, Senior Partner
victor@publicsc.com
+1 514.377.1102
Investor Relations:
Xebec Adsorption Inc.
Brandon Chow, Director, Investor Relations
bchow@xebecinc.com
+1 450.979.8700 ext 5762
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