Xebec Adsorption Inc. (TSX: XBC) (“Xebec”), a
global provider of clean energy solutions for renewable and low
carbon gases, is pleased to announce that its wholly owned
subsidiary HyGear, has signed a Gas-as-a-Service (“GaaS”) contract
with Saint-Gobain Glass (EPA: SGO) for a 15-year term. Saint-Gobain
Glass is one of the world’s largest float glass manufacturers and
will be supplied with hydrogen for their production facility in
Eggborough, United Kingdom.
Last month, HyGear also delivered an on-site
hydrogen generation system to KIWA Group in Birmingham for fuel
cell components testing. These recent orders and deliveries support
the launch of the company’s hydrogen supply strategy in the United
Kingdom, which is marked by the start of construction of a
Decentralized Hydrogen Production Hub. Located in West Bromwich,
the company’s second hub is expected to initially reach a capacity
of 300 kg of hydrogen per day and can be gradually expanded based
on market demands. The site will be operated in collaboration with
Buse Gases Ltd as a joint venture.
“The cornerstone of our hydrogen supply strategy
is to satisfy the existing and evolving needs for industrial
hydrogen, while also facilitating the upcoming demand for fuel cell
electric vehicles (FCEVs). We are excited to be announcing the
construction of our first Decentralized Hydrogen Production Hub in
the UK because these hubs will initially serve our industrial
customers such as Saint-Gobain, and gradually start supplying
hydrogen vehicle filling stations. This layered approach will allow
us to support the roll-out of refueling stations in an economically
viable way as the broader hydrogen economy forms in the next
decades,” stated Marinus van Driel, President of Xebec Europe.
Through the acquisition of HyGear last December,
Xebec gained access to highly efficient on-site hydrogen generation
through steam methane reforming (SMR) and electrolysis. On-site
generation reduces the need for central production, compression or
liquefaction and road transportation, and therewith offers a more
cost-effective and environmentally friendly option for hydrogen
supply.
The company is developing regional strategies
worldwide in which on-site Gas-as-a-Service equipment produces the
base-load supply and peak demand is supported by Decentralized
Production Hubs near end users. As a result of this combined
production strategy, it is expected that customers will have access
to the most cost-effective and lowest emission hydrogen available
today.
With the announcement by the UK government to
achieve net-zero carbon emissions by 2050, hydrogen adoption is
being seen as one of the key pathways towards achieving this goal.
The hydrogen supply launch in the United Kingdom is expected to
provide a foundational blueprint for Xebec’s accelerated expansion
plans of setting up decentralized production hubs globally, and its
core strategy to build hydrogen energy infrastructure by first
targeting demand in industry.
Related
links:https://www.xebecinc.comhttps://hygear.com/
Media Inquiries:Public
Relations for XebecVictor Henriquez, Senior
Partnervictor@publicsc.com+1 514.377.1102
Investor Relations:Xebec
Adsorption Inc.Brandon Chow, Director, Investor
Relationsbchow@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 four manufacturing
facilities, seven Cleantech Service Centers and four three 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.
Xebec Adsorption (TSX:XBC)
Historical Stock Chart
From Aug 2024 to Sep 2024
Xebec Adsorption (TSX:XBC)
Historical Stock Chart
From Sep 2023 to Sep 2024