Xebec Adsorption Inc. (TSXV: XBC) (“Xebec”), a
global provider of clean energy solutions is pleased to announce
that it has signed a letter of intent (“LOI”) on June 5th, 2020,
for the sale of a multi-million dollar landfill gas to renewable
natural gas (RNG) installation, to a large-scale waste management
customer in North America.
Xebec expects the LOI to convert into backlog over the coming
months and system delivery to occur in 2021.
In addition, Xebec has received multiple
hydrogen purification orders for the production of cost-effective,
high purity hydrogen for use in fuel cells and industrial
applications. The aggregate order amount of the landfill and
hydrogen projects announced today, and the Alberta RNG Project LOI
announced on June 3rd, 2020, is $11.9 million.
Xebec’s market presence in Canada
continues to expand as RNG adoption accelerates
On June 1st, 2020, Xebec announced the creation
of the GNR Québec Capital L.P. investment fund. This new investment
vehicle aims to increase renewable natural gas (RNG) production in
Québec and Canada, and when fully capitalized and appropriately
leveraged, could fund 12 to 15 renewable natural gas projects in
Canada.
While this landfill project will not be invested
into through the fund, the LOI showcases the increasing number of
projects that are coming online for RNG, and how Xebec is becoming
a valuable technology provider and financial partner in the
waste-to-RNG space in Canada.
Quotes:"We’re excited to be
working on another landfill project with a new customer in the
waste management industry. This LOI marks a step in the right
direction as we provide a complete “flange to flange” solution. Our
offering is compelling to waste management customers because we
have the capabilities to do all the engineering inhouse, have the
best in class technology to upgrade landfill gas to pipeline
specification, and have a solid track record with previous landfill
projects.
Canada is starting to develop as a significant
market for us as the country continues its fight against climate
change. This LOI and the recent partnership we announced with the
Fonds de solidarité FTQ to invest in renewable natural gas
projects, are important developments within the industry as we
start to see RNG infrastructure roll out. Xebec is proud to see the
traction we are getting, and we look forward to playing a
leadership role in our home country. Lastly, we continue to see
demand for our hydrogen PSA solutions for integrated on-site
hydrogen generators. Our compact, reliable and cost-effective
hydrogen purification solutions are enablers for the distributed
hydrogen infrastructure"– Dr. Prabhu Rao, Chief
Operating Officer, Xebec Adsorption Inc.
Related
links:https://www.xebecinc.comhttps://investors.xebecinc.com/press/2020-06-03-xebec-receives-letter-of-intent-for-albertas-first-commercial-renewable-natural-gas-project/
https://investors.xebecinc.com/press/2020-06-01-xebec-and-fonds-de-solidarite-ftq-launch-an-investment-fund-to-increase-renewable-natural-gas-production-in-quebec/
For more information: Xebec Adsorption Inc.
Brandon Chow, Investor Relations Manager bchow@xebecinc.com +1
450.979.8700 ext 5762
About Xebec Adsorption
Inc.Xebec is a global provider of gas generation,
purification and filtration solutions for the industrial, energy
and renewables marketplace. Well-positioned in the energy
transition space with proprietary technologies that transform raw
gases into clean sources of renewable energy, Xebec’s 1500+
customers range from small to multi-national corporations,
governments and municipalities looking to reduce their carbon
footprints. Headquartered in Montréal, Quebec, Canada, Xebec has
several Sales and Support offices in North America and Europe, as
well as two manufacturing facilities in Montréal and Shanghai.
Xebec trades on the TSX Venture Exchange under the symbol XBC. For
more information, www.xebecinc.com.
Cautionary Statement Neither
TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release. 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.
Xebec Adsorption (TSXV:XBC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Xebec Adsorption (TSXV:XBC)
Historical Stock Chart
From Apr 2023 to Apr 2024