GNR Québec Capital L.P. ("GNR Québec Capital"), an investment
fund dedicated to increasing the conversion of waste into renewable
natural gas (RNG) in the Province of Québec, is pleased to announce
the appointment of Mr. Gérard Mounier as President and General
Manager of GNR Quebec Capital Management Inc.
Resulting from a partnership announced on June
1st between Xebec Adsorption Inc. (TSXV: XBC) ("Xebec"), a global
provider of clean energy solutions, and the Fonds de solidarité FTQ
(the "Fonds"), GNR Québec Capital is an innovative fund that
provides developers and partners with access to capital and
expertise to develop and operate facilities that treat and convert
organic waste into renewable natural gas and biofertilizers.
“I am particularly proud to join the GNR Quebec
Capital team and thus contribute to the development of this new
player in the renewable energy sector. Together, I am convinced
that we will build an enterprise that will become an important
growth driver in the renewable natural gas market in Quebec,” says
Gérard Mounier, President and General Manager of GNR Quebec Capital
Management Inc.
“Renewable natural gas will play a big role in
the energy transition. As co-founders of GNR Québec Capital, we are
thrilled to be able to count on Gérard Mounier’s long experience to
help develop this sector in Québec,” said Christian G. Brosseau,
the Fonds de solidarité FTQ’s Vice-President for Investments,
Structuring Capital, Energy, and Environment.
"We are delighted to welcome Gérard to the
management team of this new investment fund in Québec. His skills
and professional experience in financing renewable energy projects
and infrastructure will help accelerate the deployment of solutions
to reduce Québec's carbon footprint and promote the circular
economy through better management of organic waste. GNR Quebec
Capital is a unique investment vehicle in Quebec and Canada and
Gérard is the right person to move this initiative forward," said
Kurt Sorschak, Chairman, CEO and President of Xebec.
A seasoned infrastructure
executivePrior to his appointment, Gérard Mounier was a
strategic advisor for Infrastructure, Energy and Natural Resources
and Co-Chair of the Infrastructure Group at Lavery, a major Quebec
law firm. In this capacity, he advised pension funds and
multinational corporations in Canada on project financing in the
fields of solar energy, wind energy, biomass and biofuels.
Previously, at Desjardins Capital Markets, he
managed the financing of projects ranging from $20 million to $250
million. He was involved in 19 projects which contributed to the
deployment of nearly $1 billion in capital. He has also held
management positions at Laurentian Bank, BNP Paribas, Royal Bank of
Canada and Crédit Lyonnais.
Gérard Mounier holds a master's degree from the
Institut Supérieur de Gestion in Paris. He is also a member of the
Board of Directors of Nergica (an applied research center that
stimulates innovation in renewable energy), the Infrastructure
Council and the Cercle de la finance internationale de
Montréal.
Related links:Press release on the creation of
GNR Québec CapitalGNR Québec Capital website
For any media request:Public Stratégies et
ConseilsHarold Fortin, Corporate Communications and Public Affairs
Strategistharold@publicsc.com +418 572 4356
Fonds de solidarité FTQPatrick McQuilken, Senior Advisor for
Media Relations pmcquilken@fondsftq.com +514 703 5587
Investor Relations:Xebec Adsorption Inc. (TSXV:
XBC)Brandon Chow, Investor Relations
Managerbchow@xebecinc.com +450 979 8700 ext. 5762
About the Fonds de solidarité
FTQThe Fonds de solidarité FTQ is a capital development
fund that channels the savings of Quebecers into investments. With
net assets of $13.8 billion as at May 31, 2020, the Fonds has
helped create and protect 221,267 jobs. The Fonds has 3,329 partner
companies and 707,935 shareholders-savers.
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.
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, notably as
a consequence of the Covid-19 pandemic, Xebec’s capacity to
generate revenue growth, the ability of Xebec and the Fonds to
identify additional partners, the ability of the partnership to
raise additional capital investment, the development of the
renewable gas market in Canada, the capacity for the partnership to
identify valuable renewable gas projects to invest in, the ability
of the partnership to contribute to the reduction of greenhouse gas
emissions, price of raw material, Xebec’s capacity to meet all its
other commitments and business plans, Xebec’s limited number of
customers, the potential loss of key employees, 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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