Xebec Adsorption Inc. (TSXV: XBC) (OTC: XEBEF)
(“Xebec”), a global provider of clean energy solutions is pleased
to announce today its inclusion in the U.S. Department of Energy’s
(DOE) US$24 million commitment to a public-private collaboration
funding 77 energy technology projects.
With matching funds from the private sector, the
Office of Technology Transition’s (OTT) Technology
Commercialization Fund (TCF) will advance the commercialization of
promising energy technologies and strengthen partnerships between
DOE’s National Laboratories and private sector companies to deploy
these technologies to the marketplace.
Xebec’s a supporting Industrial partner on this
project as a result of its collaboration with Southern California
Gas (SoCalGas), and a California treatment facility. The project is
being conducted through Lawrence Livermore National Laboratory
(LLNL) by lead researcher Sarah Baker.
This $500,000 grant to the Lawrence Livermore
National Laboratory will be used to develop and seek to
commercialize their composite sorbent technology to more
effectively remove CO2 from biogas. This proposed technology has
the potential for significant improvements over the current
state-of-the-art adsorbents used for biogas upgrading.
Xebec will play an important advisory role with
our expertise in sorbents and biomethane production. Also, there is
the opportunity to commercialize the technology in a small-scale
biogas upgrading plant if proven successful in early stages.
“Technology transfer is an essential component
of our mission at DOE, helping ensure we deliver the maximum return
on the investment of the American taxpayer," said U.S. Secretary of
Energy Rick Perry. “Through the TCF, we are connecting
entrepreneurs in the private sector with researchers at our
National Labs to help deliver the innovations and technologies that
will keep our nation secure, competitive, and energy abundant.”
The DOE received over 160 applications for 2019
TCF funding, with project teams engaging more than 90 different
partners across multiple diverse disciplines. Teams must receive a
50 percent match of non-federal funds from private partners to
receive a TCF award.
Quotes:“LLNL is excited to work
with Xebec, who has decades of experience with biogas upgrading
technology, to rigorously test LLNL’s biogas upgrading materials
and move them toward commercialization.”– Sarah
Baker, Staff Scientist, Lawrence Livermore National Laboratory
"We are proud to be working alongside LLNL and
SoCalGas to research how new sorbents can enable more economical
biomethane production. This is the first time Xebec has
participated in a DOE funded project, and we look forward to
vigorously testing LLNL’s biogas upgrading materials. The renewable
natural gas industry is seeing unprecedented growth and cost
reduction will be important in developing the market
further.”– Dr. Prabhu Rao, Chief Operating
Officer, Xebec Adsorption Inc.
Related
links:https://www.energy.gov/articles/department-energy-announces-2019-technology-commercialization-fund-projectshttps://www.xebecinc.com
For more information:Xebec
Adsorption Inc.Sandi Murphy, Director, Investor Relations and
Marketing+1 450.979.8718 smurphy@xebecinc.com
Kurt Sorschak, President and Chief Executive
Officerksorschak@xebecinc.com
About Xebec Adsorption
Inc.Xebec Adsorption Inc. is a global provider of gas
generation, purification and filtration solutions for the
industrial, energy and renewables marketplace. Its customers range
from small to multi-national corporations and governments looking
to reduce their carbon footprints. Headquartered in Montreal (QC),
Xebec designs, engineers and manufactures innovative and
transformative products, and has more than 1,500 customers
worldwide. With two manufacturing facilities in Montreal and
Shanghai, as well as a sales and distribution network in North
America, Europe, and Asia, Xebec trades on the TSX Venture Exchange
under the symbol XBC. For additional information on the company,
its products and services, visit Xebec at 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,
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.
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