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Xebec Announces Q3 2021 Financial Results
November 11 2021 - 07:00AM

Xebec Adsorption Inc. (TSX: XBC) ("Xebec"), a global provider of clean energy solutions, announced today its 2021 third quarter results, with the following highlights:
Revenues of $26.7 million for the three-month period ended September 30, 2021, compared to $18.4 million for the same period the prior year.

Gross margin of $10.1 million (38%) for the three-month period ended September 30, 2021, compared to $4.4 million (24%) for the same period the prior year.

Adjusted EBITDA of $0.3 million for the three-month period ended September 30, 2021, compared to $0.4 million for the same period last year.

Net loss of $9.2 million or ($0.06) per share in the three-month period ended September 30, 2021, compared to a net loss of $2.2 million or ($0.02) per share compared for the same period in the prior year.

Working capital of $71.2 million on September 30, 2021, for a current ratio of 1.88:1, compared to working capital of $171.2 million and a current ratio of 4.12:1 on December 31, 2020.

Management guidance updated with revenues at the top end of the range of $120.0 to $130.0 million from $110.0 to $130.0 and adjusted EBITDA margins in the range of -3.0% to -5.0% from -3.0% to -4.0% to reflect the acquisition of UECompression and supply chain risks.

As at September 30, 2021, the company had $61.9 million of cash and restricted cash compared to $168.6 million as at December 31, 2020.


Financial Highlights:

Revenues increased by $29.8 million to $80.0 million for the nine-month period ended September 30, 2021, compared to $50.2 million for the same period the prior year. The 59% increase is mainly explained by acquisitions completed in 2020 and 2021, including (1) $22.8 million for services companies and ACS, and (2) $30.5 million for HyGear and Inmatec. This was offset by lower revenues from long-term production-type RNG projects. As the company transitions to standardized products such as Biostream, revenues will be recognized on delivery.

Gross margin increased from $11.7 million to $19.3 million for the nine-month period ended September 30, 2021 compared to the same period the prior year. The gross margin percentage increased from 23% to 24% as the positive impact of acquisitions completed in 2020 and 2021 was offset by the negative impact from long-term production-type RNG contracts.

Selling and administrative expenses (“SG&A”) for the nine-month period ended September 30, 2021, of $31.7 million increased by $18.6 million compared to $13.1 million for the same nine months of 2020. The increase is primarily due to additional SG&A expenses associated with the newly acquired companies: (1) $5.9 million for services companies and ACS, and (2) $9.4 million for HyGear and Inmatec. In addition, SG&A expenses increased due to an organizational scale up of employees, hiring fees and associated costs to support the increased level of future sales.

Other gains and losses of $7.0 million for the nine-month period ended September 30, 2021 compared to $0.9 million for the same nine months of 2020. The increase is mainly due to a one-time payment arising from the prior departure of employees, legal costs and integration and M&A costs.

Research and development expenses of $1.9 million for the nine-month period ended September 30, 2021 were related to the development of the company’s second generation of the Biostream product and the continued development of biogas upgrading and hydrogen projects. As of January 1, 2021, R&D expenses are recorded as they are incurred.

Operating loss of $21.4 million for the nine-month period ended September 30, 2021 compared to an operating loss of $2.4 million for the same period in 2020. The increase in operating loss is mainly explained by the above-noted increase in SG&A and other gains and losses, offset by the slightly higher consolidated gross margin percentage.

Net loss of $25.9 million or ($0.17) per share in the nine-month period ended September 30, 2021 compared to a net loss of $3.7 million or ($0.04) per share for the same period the prior year.

Adjusted EBITDA decreased to ($9.0) million for the nine-month period ended September 30, 2021, from $1.4 million for the same period last year.

CEO Quote:

“In Q3 we made progress in executing our growth plan while also reducing the impact from our legacy, customized RNG projects. This resulted in a stronger gross margin compared to Q1 and Q2 of this year, as legacy contracts contributed fewer overall revenues and as we saw higher quality revenues across our segments. Ultimately, we are focused on our transition to standardized products which will reap benefits in both scale and costs. In addition, after the quarter end, we announced the acquisition of Colorado-based UECompression which gives us credible capacity to achieve significant organic growth with our containerized renewable natural gas and hydrogen generation systems for the North American market.

In 2021, we have made progress in building the team and enhance our operational setup to take advantage of the accelerating tailwinds for renewable gases. However, we will need to remain vigilant on supply chain risks and other operational disruptions as we continue to execute and grow our company,” stated Kurt Sorschak, Chairman, President and CEO of Xebec Adsorption Inc.

Current Market Outlook

Xebec continues to see an improving political and regulatory backdrop for its products and services. This can be seen with the “Build Back Better Act” from the Biden administration which would allocate $555 billion for U.S. investments in clean energy and combatting climate change. The Act specifically includes tax credits for biogas, renewable natural gas, hydrogen and local manufacturing. In addition, the Global Methane Pledge was announced at the COP26 conference, which aims cut methane emissions by 30% by 2030 compared to 2020 outputs. These initiatives, among others, continue to favour Xebec’s proven technologies and solutions for reducing emissions with renewable gases.

Furthermore, the company has felt the impact of supply chain disruptions and continues to manage its risk which includes higher than normal inventory purchases and dual sourcing. Xebec is also preparing for potential transportation challenges which may result in delayed revenues in future quarters. The company’s strategy in having local manufacturing and building a strategic sourcing function is expected to help mitigate this risk.

Systems - Cleantech

Renewable Natural Gas (RNG)
Xebec continues to execute on its long-term production-type RNG projects with the last handful of projects in final stages of execution and commissioning. The tapering down of impact from these legacy contracts as a result of less contribution to total revenues, was seen this quarter through a stronger gross margin. Overall, standardized products such as Biostream are expected to lead to a stronger organic revenue growth profile for the segment, more predictable cost management and improved gross margins.

The company has also begun production of its second-generation Biostream in Canada, with the aim of having a capacity run rate of 30 to 40 units per year. Revenues on the recent 18-unit Biostream order have not yet been recognized as they will now be recognized on delivery, instead of on a percentage of completion basis.

The recently announced additional capacity acquired with UECompression, will add another 120 to 150 containerized renewable gas systems for North American capacity totaling 150 to 190 units. This significant manufacturing capacity increase reflects the anticipated demand Xebec sees in the market for its products in the agricultural sector. In addition, the expansion is further supported by the success and positive feedback received from customers for the first generation Biostream, which now has several units producing RNG at U.S. dairy farms and is performing at or above expectations.

Hydrogen
The quarter saw several hydrogen contract wins, including a contract for a new industry application (annealing heat-treatment process) with a Turkish based flat steel manufacturer for two Hy.GEN® 150 units. Xebec also commissioned a key project in the Czech Republic where hydrogen will be delivered with a local partner to both a tungsten manufacturing and photonics plant.

In addition, the increasing demand for distributed hydrogen production in the U.S. has resulted in Xebec starting the process of establishing local manufacturing through UECompression. The company is seeing an increasing number of quotes to convert renewable natural gas to green hydrogen, for which it possesses world leading technology for.

Lastly, Xebec’s hydrogen PSA purification platform is seeing more activity as the mobility market develops. For example, an order was received from a leading marine robotics company to produce high purity hydrogen from ammonia cracking for a fuel cell onboard a ship. Xebec expects that as the mobility market develops, the need for high-purity hydrogen will accelerate growth opportunities for its PSA platform.

Oxygen and Nitrogen
Inmatec continues to see record production levels primarily due to the heightened demand caused by the COVID-19 pandemic for sustainably and reliably sourced medical-grade oxygen. To address this demand, last quarter a lease was signed to double the production floor space of the manufacturing facility in Herrsching, Germany and this expansion is well under way.

Organizations around the world continue to see the benefits of on-site production of gases. Inmatec showcased the value proposition recently with a large delivery to a hospital in St. Lucia. Historically, there was no oxygen available on the island and the gas had to be imported in liquid form in shipping containers. This supply would cost upwards of USD $250 per ton. By generating the gas on-site instead, the hospital now pays one tenth the cost as before, reduces their carbon footprint, is ensured a secure supply, and can serve more patients in intensive care units (ICU).

Lastly, Inmatec is seeing a pickup in on-site nitrogen generation activity as industrialized economies reopen around the world as COVID-19 imposed restrictions are lifted.

Support – Industrial Products & Services
Xebec saw several developments in its roll-up strategy to acquire compressed air service companies to build out the company’s Cleantech Service Network. Two acquisitions were made in the quarter, including California-based California Compression and the assets of Wisconsin-based Wisconsin Compressed Air.

While the service centers felt the impact of supply chain disruptions, bookings overall were strong for the quarter and several divisions are now seeing meaningful contributions from cleantech equipment. Xebec expects that the pace of acquisitions may slow down as the company works to integrate, optimize and focus its efforts within the segment.

Renewable Gas Infrastructure
Xebec is addressing the renewable gas infrastructure opportunity through GNR Quebec Capital L.P. (“GNRQC”), a fund created in partnership with The Fonds de solidarité FTQ (“Fonds”), the largest capital development fund in Québec. Xebec is an equal equity investor alongside the Fonds and will participate in the sale of renewable natural gas equipment alongside long-term parts & service agreements for the equipment.

The fund has evaluated 28 projects to date and is actively involved with 18 of both greenfield and brownfield varieties in agriculture, municipal, landfill, mixed use, and industrial waste applications. The fund has now successfully executed several letters of intent (LOI) for projects in Québec.

Management Guidance for 2021
For fiscal full-year 2021, Xebec is updating its previously announced guidance with revenues now expected to be at the top end of the range of $120.0 to $130.0 million from $110.0 to $130.0 million and adjusted EBITDA margins in the range of -3.0% to -5.0% from -3.0% to -4.0%. This guidance reflects contribution from the recently announced acquisition of UECompression and increased supply chain risks.

Xebec to Host Live Investor Webinar to Discuss Q3 2021 Results
An investor webinar for shareholders, analysts, investors, media representatives, and other stakeholders will be held today, November 11, 2021, at 8:30AM EST (5:30AM PST).

Register here: https://app.livestorm.co/xebec-adsorption-inc/2021-q3-investor-webinar

A recording of the webinar and supporting materials will be made available later today in the investor’s section of the Company’s website at xebecinc.com/investors.

2021 Third Quarter Financial Statements and Management’s Discussion and Analysis
The condensed financial statements, notes to financial statements, and Management’s Discussion and Analysis for the three-month period ended September 30, 2021, are available on the company’s website at xebecinc.com/investors or on the SEDAR website at www.sedar.com.

Related links:
https://xebecinc.com/

For more information:
Xebec Adsorption Inc.
Brandon Chow, Director, Investor Relations
+1 450.979.8700 ext 5762
[e-mail]

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 eight manufacturing facilities, thirteen 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.

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Xebec Acquires Colorado-based UECompression to Establish North America’s Leading Renewable Natural Gas and Hydrogen Manufacturing Facility

November 03 2021 - 03:35PM

Xebec Adsorption Inc. (TSX: XBC) (“Xebec”), a global provider of clean energy solutions, is pleased to announce today that it has closed the acquisition of all the outstanding shares of Colorado-based UECompression (“UEC”). Founded in 1983, UEC is a premier designer and builder of custom air and gas compressor solutions for power generation, industrial and energy applications.

The acquisition of UEC provides Xebec with a cost-effective and timely pathway towards expanding production capacity five-fold for standardized renewable gas systems while supporting UEC’s legacy business as the operation continues its energy transition. In addition, Xebec’s global manufacturing footprint is further optimized by bringing European gas generation products such as Hy.GEN to the U.S. and focuses UEC’s facility on containerized and skid-mounted renewable energy systems. Furthermore, the acquisition increases the Cleantech Service Network coverage by six states (Montana, Wyoming, Colorado, North & South Dakota and Nebraska) to meet the increasing need for local service and support as the demand for standardized RNG and hydrogen systems accelerates.

Xebec expects that with limited changes to operations it can use UEC’s excess capacity to produce approximately 150 to 190 containerized BGX Biostream™ (“Biostream”) biogas upgrading and Hy.GEN hydrogen units per year in North America. The new capacity from UEC adds to recent capacity increases in Xebec’s Canadian manufacturing facility.

“UEC helps Xebec solidify its position as a leading renewable gas player by adding a 100,000 sq. foot manufacturing facility in the U.S. With this acquisition, we are responding to the accelerating energy transition and the associated interest in containerized RNG and hydrogen systems. Furthermore, UEC’s existing compression expertise in hydrogen will become increasingly relevant as the hydrogen economy develops. The acquisition will also help us in fully complying with current and evolving needs for local sourcing,” said Kurt Sorschak, Chairman, President and CEO, Xebec Adsorption Inc.

The total consideration for the acquisition of the outstanding shares of UEC is of USD $8 million (CAD $9.9 million) and is subject to certain holdbacks and adjustments. On a standalone basis, UEC is expected to have unaudited revenues of approximately USD $35.0 million (CAD $43.3 million) for 2021. With the introduction of containerized renewable natural gas and hydrogen systems and leveraging the Cleantech Service Network to support UEC’s and Xebec’s installed equipment base, Xebec expects to see significant growth for this operation over the coming years.

Significant capacity increase to support the growing U.S. animal manure RNG market

According to the United States Department of Agriculture and National Pork Producers Council, there are approximately 92,000 active dairy and hog farms in the U.S. The American Biogas Council estimates that approximately 8,574 of these farms are primed for biogas and renewable natural gas production with more than 98 farms already producing RNG for the local transportation market.

Xebec is focused on serving animal manure-based projects because of their ability to reduce emissions from agriculture, support local communities and recycle nutrients. Biostream is well positioned as a market leading solution for animal livestock operations as showcased with orders from top U.S. dairy developers which include an initial 18-unit order from the Brightmark and Chevron RNG partnership.

Related links:
https://www.xebecinc.com

Media Inquiries:
Public Relations for Xebec
Victor Henriquez, Senior Partner
[e-mail]
+1 514.377.1102

Investor Relations:
Xebec Adsorption Inc.
Brandon Chow, Director, Investor Relations
[e-mail]
+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 seven manufacturing facilities, thirteen 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.

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Xebec Announces Master Service Agreement for BGX Biostream™ units with Leading U.S. RNG Dairy Farm Developer and Starts Pro...
July 06 2021 - 07:00AM

Xebec Adsorption Inc. (TSX: XBC) (“Xebec”), a global provider of clean energy solutions, is pleased to announce today that it has signed a Master Service Agreement (“MSA”) with a leading U.S.-based renewable natural gas (“RNG”) dairy farm project developer for the purchase of BGX Biostream™ (“Biostream”) units. The MSA will support the order of an initial 18 units, with the potential for additional orders under the same service agreement. This agreement represents the single largest unit order the company has received to date for Biostream and the largest in number of systems ever awarded in North America for dairy farm biogas upgrading projects.

As a result of the MSA and additional expected orders, Xebec has also started the production of 30 Biostream units for delivery over the next year. The company’s increased manufacturing requirements are in part supported by the recently announced acquisition of Tennessee-based Nortec. Xebec’s Canadian manufacturing facility is being modified and is expected to allow for the annual production of approximately 30 to 40 Biostream units. In addition, the company is exploring new capacity in the U.S. as more purchase orders are signed.

“This is fantastic validation of our new Biostream product that is focused on animal manure feedstocks. The team has worked hard over the last two years to develop this containerized system which offers many benefits to customers such as short delivery times, fast installation, modularity, ability to automatically handle fluctuating flow rates, low operating costs and equally important, a very competitive price. This MSA shows the strong value proposition developers and farmers see in our products, as they accelerate the development of carbon-negative renewable natural gas production. We are proud to be playing such an important role in this energy transition and look forward to ramping up our production capacity,” stated Kurt Sorschak, Chairman, CEO and President of Xebec Adsorption Inc.

Starting at a list price of USD $1.5 million, Biostream is an ideal solution for dairy farmers because of its containerized and fully automated design that offers easy and quick installation and commissioning, which combined, takes approximately 10 days. Customers will also enjoy the peace of mind knowing that Xebec’s Cleantech Service Network (CSN) will support them locally throughout the entire setup process and for the lifetime of their renewable natural gas equipment.

Biostream is positioned to capture the U.S. animal manure RNG market
According to the American Biogas Council, it is estimated that 8,574 dairy, poultry, and swine farms are primed for biogas and renewable natural gas production. Biostream is estimated to cover more than 80% of these animal manure use cases with multiple standardized configurations which range in capacity between 50 to 840 SCFM (90 to 1350 NCMH).

Dairy farms are leading livestock based RNG production in the U.S.
According to the EPA AgSTAR project database, as of May 2021, there are 333 operational and under construction digester projects that accept livestock manure. The majority (approximately 82%) of the manure-based digester projects are at dairy farms, and the rest are at swine or poultry farms. Of the 333 biogas projects, approximately 98 of them are producing RNG for the local CNG transportation market or for injection into the local pipeline.

RNG from dairy manure is unique in its carbon-negative attributes, with a negative carbon intensity score of -100 to -400 (according to California Air Resources Board) compared to a carbon intensity score of 102 and 34 to 75 for diesel and corn ethanol, respectively.

Xebec continues to see a positive and accelerating backdrop for the RNG industry as organizations and governments around the world aim to manage organic waste more effectively and decarbonize the energy supply, transportation and industry.

Related links:
https://www.xebecinc.com

Media Inquiries:
Public Relations for Xebec
Victor Henriquez, Senior Partner
[e-mail]
+1 514.377.1102

Investor Relations:
Xebec Adsorption Inc.
Brandon Chow, Director, Investor Relations
[e-mail]
+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 seven 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.

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Xebec Commissions Gas-as-a-Service On-site Hydrogen Generation System for Turkey's First Lubricant Recycling Plant
June 23 2021 - 07:00AM


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 TAYRAS’ 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. TAYRAS’ 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. TAYRAS’ 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 TAYRAS’ 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.com
https://www.tayras.com/en/

Media Inquiries:
Public Relations for Xebec
Victor Henriquez, Senior Partner
[e-mail]
+1 514.377.1102

Investor Relations:
Xebec Adsorption Inc.
Brandon Chow, Director, Investor Relations
[e-mail]
+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.

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QUBEC ECONOMIC ATTACH VISITS INMATEC
17.06.2021 11:58

Herrsching, 17. June 2021


THE AIM IS TO EXPAND TRADE RELATIONS

Since Inmatec has been part of the Xebec group based in the Canadian province of Qubec, Inmatec has been receiving more and more inquiries about nitrogen and oxygen supply from North America. On Wednesday, the Government of Qubec's Economics and Innovation Attach Nikolaus Hottenroth paid a visit to Inmatec in Herrsching. The aim is to establish business contacts with companies in Quebec and to expand mutual trade relations in both directions.


Nikolaus Hottenroth was enthusiastic during the tour through the production site: “The on-site production of industrial gases will play an increasingly important role in the future. The nitrogen and oxygen generators from Inmatec set new industrial standards, which makes the products best in class in the industry.” The on site production of nitrogen and oxygen is important in regions like Qubec, Canada´s largest province covering three climatic zones, in which long winters prevail. Due to long distances and rough climatic conditions in different parts of Qubec, gas delivery by tru can only be carried with difficulty or not at all. In addition, the environmentally friendly gas production on site enables the reduction of CO2 emissions and supports the government in its efforts to make Canada climate neutral by 2050. Inmatec offers innovative technologies for this, such as the additive NKat hydrogen technology, which enables high nitrogen purities with minimal energy consumption.

https://buff.ly/3wBtUP4

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Xebec Acquires Tiger Filtration to Leverage Recurring Element and Filter Manufacturing Platform for Renewable Gases
June 14 2021 - 07:00AM

Xebec Adsorption Inc. (TSX: XBC) (“Xebec”), a global provider of clean energy solutions, is pleased to announce that on June 11, 2021, it has closed the acquisition of all the outstanding shares of United Kingdom based Tiger Filtration (“TFL”). The acquisition of TFL will provide Xebec with a very profitable and recurring aftermarket manufacturing business for elements and filters. TFL’s R&D capabilities will also allow for expansion of its product portfolio to include filtration products for hydrogen and renewable natural gas (RNG).

Founded in 2004 by former Walker Filtration employees (Bob Thompson, Gary Ashton and Matthew Rowe), TFL has gained worldwide recognition for providing high-quality alternatives for the compressed air and gas industry. TFL was established 17 years ago and has become an internationally active company with worldwide sales. Two of its principals will retire and Gary Ashton will remain with TFL as Managing Director and continue his leadership in sales and business development.

“We started TFL almost two decades ago and are happy to be handing over the company to Xebec, a company with a clear focus on clean technologies. I am particularly proud of the efficient manufacturing platform that we’ve created and that can successfully compete with the compressed air & gas multinationals. I believe that TFL will enable Xebec to not only capture immediate sales and costs synergies but also help create products for the energy transition, as our knowledge will facilitate the development of filter products for hydrogen and RNG,” said Gary Ashton, Managing Director, Tiger Filtration.

Total consideration payable by Xebec is £12.0 million ($20.6 million CAD) and is subject to certain holdbacks, adjustments and time-based payments. TFL had revenues of £2.7 million ($4.6 million CAD), an EBITDA margin of 42% and a net income margin of 34% for FY2020. Furthermore, Xebec expects that TFL will immediately provide cost savings by displacing parts currently bought by its existing subsidiaries within the Cleantech Service Network, HyGear, Inmatec and its headquarters in Québec.

“TFL provides Xebec with a unique opportunity to vertically integrate into the valuable aftermarket business for filters and elements. The acquisition will be immediately accretive and bring TFL’s products to our service subsidiaries which will be leveraging our sales and distribution networks to increase revenues. Ultimately, the acquisition positions us well as we look to transition from being predominantly an equipment supplier to a support and service-oriented organization with recurring revenue streams for renewable and low carbon gases,” stated Kurt Sorschak, Chairman, CEO and President of Xebec Adsorption Inc.

About Tiger Filtration
Established in 2004, Tiger Filtration is an independently owned British based company specialising in the manufacturing of high-quality alternative in-line filter elements, vacuum pump separators, compressor air & oil separators, high-pressure stainless-steel filter housings and bespoke filtration solutions. Tiger’s products are supplied from its 14,000 sq ft facility in Sunderland, UK and sold globally to customers ranging from small businesses to international organisations who expect quality products and an exceptional level of service.

Related links:
https://www.xebecinc.com
https://www.tigerfiltration.com

Media Inquiries:
Public Relations for Xebec
Victor Henriquez, Senior Partner
[e-mail]
+1 514.377.1102

Investor Relations:
Xebec Adsorption Inc.
Brandon Chow, Director, Investor Relations
[e-mail]
+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.

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Xebec Announces Supply Agreement for Hydrogen Fueling Station in the Netherlands
05/26/2021 7:00:00 AM

MONTREAL, May 26, 2021 (GLOBE NEWSWIRE) -- 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 supply
On 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.com
https://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 Xebec
Victor Henriquez, Senior Partner
[e-mail]
+1 514.377.1102

Investor Relations:
Xebec Adsorption Inc.
Brandon Chow, Director, Investor Relations
[e-mail]
+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.

[junkHustler]

Sounds like they are ramping up towards a NASDAQ listing.

And gotta love the background of the new director. Lots of speculation here so I wont indulge.

Diversity of the board just improved. :)

GLTA & JMO

[junkHustler]

Xebec Welcomes Ms. Karen Nielsen to Board of Directors
April 07 2021 - 07:00AM
GlobeNewswire Inc.

Xebec Adsorption Inc. (TSX: XBC) (“Xebec”), a global provider of clean energy solutions, is pleased to announce that Ms. Karen Nielsen has joined Xebec’s Board of Directors effective today.
Ms. Nielsen was formerly the Chief Development Officer at Seven Generations Energy Ltd (TSX: VII), an energy producer dedicated to stakeholder service, responsible development and generating strong returns. She is also a non-executive lead director at Crew Energy (TSX: CR), a light oil and natural gas producer operating and based in Western Canada.

“Having spent the majority of my career in the traditional oil and gas space, I am excited to be joining Xebec as we look towards the next chapter of energy. Decarbonization of our energy sources has come to the forefront of our minds as we look to address climate change. I believe Xebec will play a key role in this as a world leading renewable gas player and that we will pave a better future for generations to come,” stated Karen Nielsen.

Ms. Nielsen brings decades of expertise in the oil and gas sector with positions in operations, business development, engineering and finance. She held positions as Senior Vice President and General Manager at ATCO Power Ltd. (TSX: ACO.X), Vice President of Operations at ARC Resources Ltd. (TSE: ARX) and both Vice President of Engineering and Operations at Birchcliff Energy Ltd. (TSX: BIR).

“I am excited to be welcoming Karen to Xebec’s Board. She brings a strong background in energy in a time where the transition towards lower carbon energy sources is accelerating. Xebec is playing an important role in providing cleantech solutions for reducing emissions in the broader energy sector. I look forward to Karen’s contributions as she brings forth new ideas and insight into the energy transition,” stated Kurt Sorschak, Chairman, President and CEO, Xebec Adsorption Inc.

Related links:
https://www.xebecinc.com

Media Inquiries:
Public Relations for Xebec
Victor Henriquez, Senior Partner
[e-mail]
+1 514.377.1102

Investor Relations:
Xebec Adsorption Inc.
Brandon Chow, Director, Investor Relations
[e-mail]
+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.

[junkHustler]

Nice to see the stock back on track.

CEO has purchased 100K shares over the last week. Thats a $450K personal stake in addition to all the stock options and shares he owns already.

Time to take this back to the all-time high as the revenue for 2021 will increase by 100%.

The revenue model continues to evolve and the new COO will be a game changer. :)

GLTA & JMO

[nowwhat2]

Early 2019 whilst testing 1.00
https://www.bnnbloomberg.ca/investing/video/robert-mcwhirter-discusses-xebec-adsorption~1613252

https://www.stockwatch.com/Chart/Advanced

Next up = Now Cielo (whose mkt cap = 186m NOT 1.86)
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=162178572

[junkHustler]

Xebec Announces $59M in Credit Facilities from National Bank of Canada
02/24/2021 8:00:00 AM

MONTREAL, Feb. 24, 2021 (GLOBE NEWSWIRE) -- Xebec Adsorption Inc. (TSX: XBC) (“Xebec”), a global provider of clean energy solutions for renewable and low carbon gases, announced today that it has secured credit facilities with National Bank of Canada’s Technology and Innovation Banking Group for a total value of up to $59.25 million CAD. The expanded facilities will provide Xebec with greater financial flexibility and cash management to pursue its growth trajectory and its acquisition strategy aimed at developing a North American and European Cleantech Service Network for its increasing renewable natural gas and hydrogen installations.

"We’re pleased to partner with National Bank of Canada, which is committed to building lasting relationships with its clients and to supporting sustainable development. The confidence placed in Xebec by National Bank of Canada to increase our credit facilities shows that the team has a growth and development plan that adequately responds to the decarbonization needs around the world,” said Stéphane Archambault, CFO of Xebec Adsorption Inc. “Xebec is an innovative cleantech company developing solutions to help our customers reduce their emissions while simultaneously reducing the cost of their industrial and renewable gas purchases. The economy is changing at a rapid pace and the need to reconcile economic development with the fight against climate change has never been greater. Xebec is playing an increasingly important role in the transition to a net zero carbon economy.”

“Our Technology and Innovation Banking Group offers specialized support to fast-growing technology businesses like Xebec, which is on its way to becoming a renewable gas leader. We’re proud to partner with a home-grown company that has provided clean energy solutions to thousands of customers around the world and has seen tremendous growth in its activities over the last few years. It’s very exciting for us to support Xebec in its future development and acquisition strategy,” added François-Pierre Dionne, Senior Director, Technology and Innovation Banking at National Bank of Canada.

These credit facilities represent the broadest access to debt financing available to the company to date.

Related links:
https://www.xebecinc.com

Media Inquiries:
Public Relations for Xebec
Victor Henriquez, Senior Partner
[e-mail]
+1 514.377.1102

Investor Relations:
Xebec Adsorption Inc.
Brandon Chow, Director, Investor Relations
[e-mail]
+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.

About National Bank of Canada
With $344 billion in assets as at January 31, 2021, National Bank of Canada, together with its subsidiaries, forms one of Canada's leading integrated financial groups. It has more than 26,000 employees in knowledge-intensive positions and has been recognized numerous times as a top employer and for its commitment to diversity. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank’s activities at nbc.ca or via social media such as Facebook, LinkedIn and Twitter.

[junkHustler]

Xebec Launches Hydrogen Supply Strategy in the United Kingdom
February 16 2021 - 08:00AM
GlobeNewswire Inc.

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.com
https://hygear.com/

Media Inquiries:
Public Relations for Xebec
Victor Henriquez, Senior Partner
[e-mail]
+1 514.377.1102

Investor Relations:
Xebec Adsorption Inc.
Brandon Chow, Director, Investor Relations
[e-mail]
+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.

[junkHustler]

Xebec Announces Hydrogen Order for FuelCell Energy's Port of Long Beach Project

February 11 2021 - 08:00AM

Xebec Adsorption Inc. (TSX: XBC) (“Xebec”), a global provider of clean energy solutions for renewable and low carbon gases, is pleased to announce that it has received a hydrogen purification system order from FuelCell Energy, Inc. (NASDAQ: FCEL). FuelCell Energy is an innovator and manufacturer of fuel cell clean power platforms, delivering hydrogen, long-duration hydrogen energy storage, carbon capture, carbon separation and utilization, power, and thermal energy.
The order is for a Pressure Swing Adsorption (PSA) based system that will purify hydrogen produced by FuelCell Energy’s SureSourceTM Hydrogen platform to meet required standards for fueling zero-emission fuel cell vehicles for Toyota’s operations at the Port of Long Beach in California. Green hydrogen will be produced from renewable natural gas (RNG) fed into FuelCell Energy’s trigeneration process, helping the port’s mission to lower carbon emissions and improve air quality in the community.

“FuelCell Energy is excited to work with Xebec to deliver high-purity hydrogen. FuelCell Energy is working under contract to Toyota at the Port of Long Beach to deliver the hydrogen necessary to promote the further adoption of fuel cell electric vehicles, deliver green hydrogen, and provide reclaimed water produced by our platform to facilitate car-washing operations. We believe that this installation will be the only installation in world simultaneously delivering carbon neutral power, green hydrogen, and water from a single platform,” stated Jason Few, President and Chief Executive Officer of FuelCell Energy, Inc.

“We are excited to be collaborating with Fuel Cell Energy on this project. This installation at the Port of Long Beach is an excellent application of distributed hydrogen generation for fuel cell electric vehicles using renewable natural gas to provide renewable hydrogen,” stated Kurt Sorschak, Chairman, CEO and President of Xebec Adsorption Inc. “Hydrogen is becoming increasingly important as corporations and governments around the world strive for net-zero and zero-emission vehicles. In addition to our RNG business, we expect Xebec will play a more significant role as a hydrogen technology provider in helping customers displace higher carbon fuels and high-emission diesel trucks with FCEVs in the coming years.”

Delivery of the system is expected to occur in Q3 of this year.

Related links:
https://www.xebecinc.com
https://www.fuelcellenergy.com/

Media Inquiries:
Public Relations for Xebec
Victor Henriquez, Senior Partner
[e-mail]
+1 514.377.1102

Investor Relations:
Xebec Adsorption Inc.
Brandon Chow, Director, Investor Relations
[e-mail]
+1 450.979.8700 ext 5762

About FuelCell Energy
FuelCell Energy, Inc. (NASDAQ: FCEL) is a global leader in sustainable clean energy technologies that address some of the world’s most critical challenges around energy, safety and global urbanization. As a leading global manufacturer of proprietary fuel cell technology platforms, FuelCell Energy is uniquely positioned to serve customers worldwide with sustainable products and solutions for businesses, utilities, governments and municipalities. Our solutions are designed to enable a world empowered by clean energy, enhancing the quality of life for people around the globe. We target large-scale power users with our megawatt-class installations globally, and currently offer sub-megawatt solutions for smaller power consumers in Europe. To provide a frame of reference, one megawatt is adequate to continually power approximately 1,000 average sized U.S. homes. We develop turn-key distributed power generation solutions and operate and provide comprehensive service for the life of the power plant. Our fuel cell solution is a clean, efficient alternative to traditional combustion-based power generation, and is complementary to an energy mix consisting of intermittent sources of energy, such as solar and wind turbines. Our customer base includes utility companies, municipalities, universities, hospitals, government entities/military bases and a variety of industrial and commercial enterprises. Our leading geographic markets are currently the United States and South Korea, and we are pursuing opportunities in other countries around the world. FuelCell Energy, based in Connecticut, was founded in 1969.

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 three sales offices spanning over four continents. Xebec trades on the Toronto Stock Exchange under the symbol XBC. For more information, xebecinc.com.

[junkHustler]

Xebec Virtually Opens The Market
February 01 2021 - 11:00AM

TORONTO, Feb. 1, 2021 /CNW/ - Kurt Sorschak, Chairman of the Board, Chief Executive Officer and President, Xebec Adsorption Inc. ("Xebec" or the "Company") (TSX: XBC) and his team joined Berk Sumen, Head, Company Services, TMX Group, to celebrate the Company's graduation from TSX Venture Exchange to Toronto Stock Exchange and open the market.

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.https://xebecinc.com/

For Market Openings: Media may pick up a feed from the TOC (television operations centre) for all market open ceremonies. The feed is named TSX Transmit 1 (SD-SDI) and is produced at the TMX Broadcast Centre and sent live to the TOC. To pick up the feed via the Dejero network, please contact [e-mail]. The client feature video will begin playing on the TMX media wall at approximately 9:27 a.m. ET and the markets will open with the sound of a siren at 9:30 a.m. ET

Date: Monday,February 1, 2021
Time: 9:00am - 9:30am
Place: Virtually Broadcast

SOURCE TMX Group Limited

[junkHustler]

Uplist to TSX!

Thursday opening bell.

GLTA & JMO

[junkHustler]

And another new high.

Today we saw $10.07 CDN.

GLTA & JMO

[junkHustler]

Another new high.. $8.25 with so much news in the pipe still.

Going to be a great run once everything gets closed and uplisted.

GLTA & JMO