Xebec Announces Over $11.7 Million in New Orders
September 11 2019 - 8:00AM
Xebec Adsorption Inc. (TSXV: XBC) (OTCQX: 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.
Quotes: “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.
Related
Links:www.xebecinc.com
For more information:Xebec
Adsorption Inc.Brandon Chow, Investor Relations Specialist +1
450.979.8700 ext 5762 bchow@xebecinc.com
Kurt Sorschak, President and Chief Executive
Officer+1 450.979.8701 ksorschak@xebecinc.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.
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”,
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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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