MONTREAL, Sept. 11, 2019 (GLOBE NEWSWIRE) -- Xebec Adsorption Inc. (XBC.V) (XEBEF) (“Xebec”), a global provider of clean energy solutions announced it closed several contracts the past month totaling approximately CDN$11.7 million.
The orders span the breadth of Xebec capabilities – from renewable natural gas (RNG) generation through several hydrogen purification projects including a fuel cell fueling application, syngas purification from waste gasification, and CO2 capture and use.
In Canada, Xebec has been awarded a contract to supply and install a flange to flange biogas upgrading plant. The project, led by Oakville-based BerQ RNG, involves installing and operating refining equipment to create renewable gas from food waste in Ontario. Approximately 111,000 tons of carbon emissions will be reduced over the project’s 15-year life.
These combined orders will increase the backlog from $63.5 million (last reported Aug 12th, 2019) to $72.2 million as of Sept 6th, 2019.
“Given the severe climate change issues we now face, the need to quickly transition to renewable energy and renewable fuel sources takes on more urgency. Globally the focus is not on IF but HOW. Consequently, in addition to Solar, Wind and RNG, there is tremendous movement forward in the areas of Renewable Hydrogen for Transportation (Fuel Cell Vehicles), Power to Gas for pipeline injection, Carbon Dioxide Capture and Sequestration, and creating fuels or chemicals from Waste Gasification. We at Xebec are excited to be involved in all these markets with ongoing projects. The future is full of possibilities.”
- Prabhu Rao, Chief Operating Officer, Xebec Adsorption Inc.
For more information:
Xebec Adsorption Inc.
Brandon Chow, Investor Relations Specialist
+1 450.979.8700 ext 5762 firstname.lastname@example.org
Kurt Sorschak, President and Chief Executive Officer
+1 450.979.8701 email@example.com
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 and on the OTCQX Exchange under the symbol XEBEF. For additional information on the company, its products and services, visit Xebec at xebecinc.com.
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, Xebec’s capacity to generate revenue growth, limited number of customers, 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.