Xebec Signs 10-year Gas-as-a-Service Contract for Hydrogen Recycling
June 09 2021 - 06:00AM
Xebec Adsorption Inc. (TSX: XBC) (“Xebec”), a
global provider of clean energy solutions, is pleased to announce
today that its wholly owned subsidiary HyGear, has signed a 10-year
hydrogen recycling Gas-as-a-Service contract with one of the
largest glass manufacturers in the world. The pay-per-use contract
is valued at approximately $1.6 million in total revenues over the
10-year agreement and was signed after successfully validating the
quality of gas over several tests at two flat-glass manufacturing
facilities in Germany.
“It was a great opportunity to partner with an
established glass manufacturer to develop this system and
demonstrate that our hydrogen recycling technology can contribute
to the circular economy. This long-term contract demonstrates their
confidence in our ability to create value in monetary terms and
reduce the environmental impact, which is key to environmentally
responsible companies,” said Marinus van Driel, President of Xebec
Europe.
Leader in hydrogen and nitrogen recovery
systems for glass manufacturers On February 2, 2021,
HyGear signed a similar agreement valued at approximately $1.2
million in total revenues with Obeikan Glass Company, the largest
float, coated, and laminated glass manufacturer in the Middle East.
Delivery of this unit is expected to occur later this year.
In addition, HyGear expects that because of
these recent deployments, it can accelerate the uptake of its
generation and recovery products within the glass industry. The
company has identified over 400 glass manufacturing facilities
worldwide that could benefit from on-site or local hydrogen
generation and now, hydrogen recycling systems to further reduce
costs and emissions.
Hydrogen and nitrogen gas mixtures are used in
float glass production to create a protective atmosphere to prevent
oxidation. These gases are injected into a tin bath where liquid
glass is floated on molten tin. The most common practice of these
production facilities is to vent the used mixed gases into the
atmosphere.
HyGear’s gas recovery system was developed to
recover used gases, clean them to a production-grade standard and
feed them back into the manufacturing process. This approach
reduces costs and improves the product quality due to the increased
atmosphere refreshment rate. In addition, it reduces the
environmental impact of the process by preventing the venting of
particulate matter back into the atmosphere.
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
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 five 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 press
release contains forward-looking statements within the meaning of
applicable Canadian securities law. These statements relate to
future events or future performance and reflect the expectation of
Management regarding the growth, results of operations, performance
and business prospects and opportunities of the Corporation or its
industry. Forward-looking statements typically contain words such
as “believes”, “expects”, “anticipates”, “continues”, “could”,
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outcomes or events, although not all forward-looking statements
contain these identifying words. Examples of such statements
include, but are not limited to, statements concerning: (i) the
Corporation’s belief it can accelerate the uptake of its hydrogen
generation and recovery systems in the glass industry; and (ii) the
total size of the market with over 400 Corporation identified glass
manufacturing facilities worldwide as noted in this press
release.
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