Xebec Completes Acquisition of Inmatec
February 22 2021 - 8:00AM
Xebec Adsorption Inc. (TSX: XBC) (“Xebec”), a
global provider of clean energy solutions for renewable and low
carbon gases, is pleased to announce today the closing of the
previously announced acquisition of Inmatec Gase Technologie GmbH
& Co. KG, Inmatec GmbH and Inmatec Gas Technology FZC RAK
(collectively, “Inmatec”).
Inmatec is a leading manufacturer of on-site
nitrogen and oxygen generators. With innovative stationary and
mobile plants, the company is setting new standards in the on-site
production of nitrogen and oxygen. Inmatec’s N2 and O2 product
lines with PSA or membrane-based technologies offers solutions to
meet the needs of customers of all sizes. In addition, the company
provides customer-specific solutions for a range of N2 and O2
applications as part of its special plant construction.
Inmatec positions Xebec to execute and
accelerate its distributed renewable and low carbon gas strategy.
The acquisition of new oxygen and nitrogen generation technologies,
and the access to new markets and service capabilities, will enable
Xebec to bring cost-effective gas supply to customers around the
world. Specifically, the acquisition is expected to, among other
things:
- position Xebec as a worldwide leader in on-site nitrogen and
oxygen generation products
- create new growth opportunities by bringing products to North
America
- expand the Cleantech Service Network in Europe and gain entry
into the German hydrogen and renewable natural gas markets
- access to an established network of over 40 worldwide
distribution partners
- exposure to the fast-growing medical oxygen market
"Inmatec marks an important milestone for Xebec
in expanding its technologies and presence throughout Europe and
the Middle East," said Kurt Sorschak, CEO and President of Xebec
Adsorption Inc. “Inmatec has a unique portfolio of products that
complements our other gas generation products in hydrogen and
renewable natural gas. Their large customer base offers
opportunities in cross-selling other products within our company
portfolio. Inmatec also ensures that we have the relevant products
and continue to build a robust reference base for distributed gas
generation. Ultimately, their strong presence in Europe, Middle
East, and Africa will help us scale our existing sales and service
efforts in these regions.”
Advisors Desjardins Capital Markets and TD
Securities Inc. acted as financial advisors on the Acquisition.
Related
links:https://www.xebecinc.com
https://www.inmatec.de/en/startsite.html
Media Inquiries: Public Relations for
Xebec Victor Henriquez, Senior Partner victor@publicsc.com
+1 514.377.1102
Investor Relations:Xebec
Adsorption Inc. Brandon Chow, Director, Investor Relations
bchow@xebecinc.com +1 450.979.8700 ext 5762
About Xebec Adsorption
Inc.Xebec is a global provider of clean energy solutions
for renewable and low carbon gases used in energy, mobility and
industry applications. The company specializes in deploying a
portfolio of proprietary technologies for the distributed
production of hydrogen, renewable natural gas, oxygen and nitrogen.
By focusing on environmentally responsible gas generation, Xebec
has helped thousands of customers around the world reduce their
carbon footprints and operating costs. Headquartered in Québec,
Canada, Xebec has a worldwide presence with five manufacturing
facilities, eight Cleantech Service Centers and four sales offices
spanning over four continents. Xebec trades on the Toronto Stock
Exchange under the symbol (TSX: XBC). For more
information, xebecinc.com.
Cautionary Statement Neither
Toronto Stock Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the Toronto Stock 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.
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