Xebec Adsorption Inc. (TSX: XBC) (“Xebec”), a
global provider of clean energy solutions, is pleased to announce
Jim Vounassis will be appointed as Chief Operating Officer (“COO”)
and Mike Munro will join as the company’s first Vice President
Global Operations effective May 31, 2021.
Mr. Vounassis is a transformational senior
executive with strong international experience and a proven track
record in driving organizational performance. He was most recently
COO at Bombardier Transportation (TSX: BBD.B), now part of Alstom,
which is one of the world's largest rail equipment manufacturing
companies. Mr. Vounassis was responsible for the operations aspects
of the $8 billion revenue business and empowered over 15,000
employees to deliver innovative rail solutions across global
markets.
“Xebec is an exciting cleantech growth company
that is looking to solidify and expand its global operations. I
believe we should all be doing our part to address climate change
and the renewable gas opportunity is a compelling vision. I look
forward to contributing my decades of experience in procurement,
operations and transformation in order to help develop a solid
manufacturing and operational footprint to further Xebec’s
continued success,” said Jim Vounassis, Incoming COO of Xebec
Adsorption Inc.
Before being appointed COO at Bombardier
Transportation, Mr. Vounassis held the position of Chief
Transformation and Procurement Officer at Bombardier Corporation.
Previous to that, he held positions as Vice President Global
Operations at Pharmascience, Vice President Global Manufacturing
and Strategic Sourcing at Baker Hughes and Vice President Global
Strategic Sourcing at Pratt and Whitney.
As the incoming Vice President Global
Operations, Mr. Munro is an award-winning senior executive with a
record in managing North American based businesses with strong
expertise in business development, operations and strategic
planning. He was most recently the Canadian General Manager at GE
Power Conversion. Mr. Munro had a longstanding career at GE as a
Vice President and General Manager in several business units and
was recognized for his skill at turning around poorly performing
divisions and restructuring business lines generating over $200
million in revenues.
“We are excited to have Jim and Mike join us for
our next chapter of growth as we build out our worldwide presence.
Both of them bring a proven background in organizational
performance which will help us achieve our long-term strategic
vision to become a world leading renewable gas leader. I would like
to give them a warm welcome on behalf of the Xebec team and the
Board of Directors,” stated Kurt Sorschak, Chairman, CEO and
President of Xebec Adsorption Inc.
Mr. Vounassis is a graduate of University of
Waterloo with an Honours Bachelor of Science in Mechanical
Engineering. He also completed an Executive MBA at the Smith School
of Business at Queen's University.
Mr. Munro is a graduate of Southern Alberta
Institute of Technology with an Honours Diploma in Electrical
Engineering and is completing his Master of Business Administration
at York St John University.
Related
links:https://www.xebecinc.com
About Xebec Adsorption
Inc.Xebec is a global provider of clean energy solutions
for renewable and low carbon gases used in energy, mobility and
industrial 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 six manufacturing
facilities, eight Cleantech Service Centers and four 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,
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.
These risks, uncertainties and other factors include, among others,
the uncertain and unpredictable condition of global economy,
notably as a consequence of the Covid-19 pandemic, Xebec’s capacity
to generate revenue growth, the availability to Xebec of financing
and credit alternatives and access to capital, Xebec’s capacity to
meet all its other commitments and business plans, Xebec’s limited
number of customers, the potential loss of key employees, changes
in the use of proceeds relating to the loan, share price
volatility, and other factors. 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.
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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