Xebec Commissions Gas-as-a-Service On-site Hydrogen Generation System for Turkey's First Lubricant Recycling Plant
June 23 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 successfully
commissioned an on-site hydrogen generation system for TAYRAŞ’ used
lubricant oil re-refinery in Turkey. Approximately 560 kg of
hydrogen per day (205 tons per year) will be delivered under 125
bar by the fully automated system under a 15-year Gas-as-a-Service
contract. TAYRAŞ’ facility is the first of its kind in the country
and will be key to developing Turkey’s circular economy and
reducing emissions from API Group II base lubricating oils.
“This was a significantly large sized project
for us and a unique one to be involved in within our reference
installations. TAYRAŞ’ re-refinery shows the importance of securing
local supply and reducing the carbon footprint of oils through
recycling. Our on-site hydrogen offers the lowest cost and
emissions option by cutting out the transportation and liquefaction
steps from centralized hydrogen supply. In addition, we were able
to showcase our expertise in compression by operating at an
impressive 125 bar on a 24/7 basis. This level of operation will
lend well to other applications such as hydrogen refueling stations
where this pressure and reliability is also needed,” said Marinus
van Driel, President of Xebec Europe.
The capacity of TAYRAŞ’ plant is 60,000 tons of
used lubricating oil per year which is expected to produce
approximately 45,000 tons of Group II base oil (N70, N100, N220).
The hydrogen produced by HyGear’s system will be used to
hydro-treat the used oils and remove sulphur, chlorine, nitrogen,
phosphorous, silica and saturation of aromatics employing special
catalysts.
Industry consultant Kline & Co. estimates
that approximately 50% of used motor oil is re-refined in Europe.
This amount falls to between 10% and 15% in North America. In
Turkey, it is estimated by Petder to be as little as 7%.
Related
links:https://www.xebecinc.comhttps://www.tayras.com/en/
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 press
release contains forward-looking statements within the meaning of
applicable Canadian securities law. These statements relate to
future events or future performance and reflect the expectation of
Management regarding the growth, results of operations, performance
and business prospects and opportunities of the Corporation or its
industry. Forward-looking statements typically contain words such
as “believes”, “expects”, “anticipates”, “continues”, “could”,
“indicates”, “plans”, “will”, “intends”, “may”, “projects”,
“schedules”, “would” or similar expressions suggesting future
outcomes or events, although not all forward-looking statements
contain these identifying words. Examples of such statements
include, but are not limited to, statements concerning: (i)
potential transferability of expertise in compression and 24/7
operation to hydrogen refueling stations as noted in this press
release.
These statements are neither promises nor
guarantees but involve known and unknown risks and uncertainties
that may cause the Company’s actual results, level of activity or
performance to be materially different from any future results,
levels of activity or performance expressed in or implied by these
forward-looking statements. These risks include, generally, risks
related to revenue growth, operating results, industry and
products, technology, competition, the economy, the sufficiency of
insurance and other factors which are discussed in greater details
in the most recent quarterly management discussion ana analysis
(“MD&A”) and in the Annual Information Form of the Corporation
filed on SEDAR at www.sedar.com.
Forward-looking statements contained herein are
based on a number of assumptions believed by the Corporation to be
reasonable as at the date of this press release, including, without
limitations, assumptions about trends in certain market segments,
the economic climate generally, the pace and outcome of
technological development, the identity and expected actions of
competitors and customers, the value of the Canadian dollar and of
foreign currency fluctuations, interest rates, the anticipated
margins under new contracts awards, the state of the Corporation’s
current backlog, the regulatory environment, the sufficiency of
internal and disclosure controls, the ability of the Corporation to
successfully integrated acquired business, and the acquisition and
integration of businesses in the future. If these assumptions prove
to be inaccurate, the Corporation’s actual results may differ
materially from those expressed or implied in the forward-looking
statements. The forward-looking statements contained herein are
made as of the date of this MD&A and are expressly qualified in
their entirety by this cautionary statement. Except to the extent
required by law, the Company undertakes no obligation to publicly
update or revise any forward-looking statements contained herein.
Readers should not place undue reliance on forward looking
statements.
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