Xebec Announces Supply Agreement for Hydrogen Fueling Station in the Netherlands
May 26 2021 - 7:00AM
Xebec Adsorption Inc. (TSX: XBC) (“Xebec”), a
global provider of clean energy solutions, is pleased to announce
today that its wholly owned subsidiary HyGear, has signed an
agreement to supply hydrogen to a fueling station in the
Netherlands. The agreement includes the on-site generation and
delivery of 130,000 kg of hydrogen from HyGear’s nearby
decentralized hydrogen production hub in Arnhem, Netherlands over a
1.5-year period. The supplied hydrogen is expected to support the
fueling needs of approximately 33,000 fuel cell electric vehicle
(“FCEV”) fills over the duration of the contract.
“This is the second hydrogen supply agreement we
have signed in the Netherlands for refueling stations. We are
excited about our continued traction as large-scale demand for the
fuel comes online for heavy and light duty FCEVs such as buses and
passenger cars. Our decentralized hydrogen production hubs already
offer supply to local industrial markets, and we are primed for the
increased demand from the mobility sector. This unique approach of
local production and distribution will play well into our global
strategy of distributed and decentralized gas generation, resulting
in significantly lower costs and emissions,” stated Marinus van
Driel, President of Xebec Europe.
HyGear is developing into a globally
local leader in hydrogen supplyOn February 18, 2021,
HyGear signed its first hydrogen fuel supply contract with Rijngas,
a gas sales and distribution company in the Netherlands, for the
supply of hydrogen to a fueling station in Amsterdam that is
operated by Orangegas. This hydrogen fuelling station is one of the
first in Amsterdam and the sixth station in the country. Hydrogen
is expected to play an important role in the Dutch government’s
energy transition policy framework, particularly in heavy duty
vehicles such as trucks, buses, tractors and ships.
While HyGear owns and operates its first hub in
Arnhem, Netherlands, a second one is currently under construction
in West Bromwich, United Kingdom. This second hub marks the
company’s geographic expansion in Europe and will be operated by
Buse Gases Ltd as a joint venture.
Related
links:https://www.xebecinc.comhttps://hygear.com/news/hygear-supplies-hydrogen-for-fuelling-station-in-amsterdam/https://xebecinc.com/news/xebec-launches-hydrogen-supply-strategy-in-the-united-kingdom/
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
industrial 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 six manufacturing
facilities, eight Cleantech Service Centers and five 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 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. The approximate 33,000 FCEV
fills is based on an average of 4 kg of hydrogen per refuel for
light duty vehicles. This number is subject to variability
depending on the mix of vehicles that access the station over the
duration of the contract. 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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