Xebec Announces Its First Canadian Renewable Natural Gas Infrastructure Project
February 18 2020 - 8:00AM
Xebec Adsorption Inc. (TSXV: XBC) (“Xebec”), a
global provider of clean energy solutions announced today that
Xebec and Bähler Biogas Inc. (“Bähler”) have signed an agreement to
develop an integrated facility to process various organic wastes
for the production of renewable natural gas (RNG) and
biofertilizer.
Located in Québec, Canada, this facility will
process over 45,000 metric tons of organic waste per year through
an anaerobic digestion process. This process will produce biogas
that is upgraded into renewable natural gas (RNG) by a turnkey
biogas upgrading equipment package supplied by Xebec. The facility
will contribute to the circular economy in Québec, producing over
150,000 GJ of RNG and 7,500 metric tons of biofertilizer annually.
The plant is expected to be commissioned in early 2021.
The project will sell its RNG under a 20-year
off-take agreement at a fixed rate per gigajoule (GJ), and the
biofertilizer produced will be sold and distributed to farmers
through a major bio-solid management partner.
The project’s capital expenditures of
approximately $28.0 million will be financed through a combination
of equity from its development partners, non-recourse debt and a
potential grant from Québec’s PTMOBC program (Programme de
Traitement des Matières Organiques par Biométhanisation et
Compostage), for which an application has been filed with the
Québec Government.
Quotes:“We are proud to team up
with a strategic partner like Xebec to build this state-of-the-art
industrial facility and lead the market for a true total life cycle
solution for waste valorization.” – Claude-Bernard
Levesque, CEO, Bähler Biogaz Inc.
“It is great to finally see our first BOO
project move forward. It showcases how local partners can come
together to create a community-based sustainable waste solution for
a true circular economy. Renewable natural gas presents a unique
opportunity to both divert organic waste from landfills and produce
a valuable source of clean energy to displace fossil natural gas
and create a biofertilizer for farmers. Xebec plans to be a
valuable technology provider and financial partner in the
waste-to-RNG space in Canada.”– Kurt Sorschak,
President and CEO, Xebec Adsorption Inc.
Related
links:https://www.xebecinc.com
For more information:Xebec
Adsorption Inc.Brandon Chow, Investor Relations
Managerbchow@xebecinc.com+1 450.979.8700 ext 5762
About Bähler Biogas Inc.Bähler
Biogas Inc. is a privately-owned Québec-based company which has
relevant experience in turnkey project development, including
expertise in specialized organic waste processes and building
required infrastructure for digesters. Bähler has constructed over
20 cold-weather anaerobic digesters in Canada. For more information
on the company, visit Bähler Biogas at biogas.bahler.ca.
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,
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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