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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
victor@publicsc.com
+1 514.377.1102
Investor Relations:
Xebec Adsorption Inc.
Brandon Chow, Director, Investor Relations
bchow@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 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.
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
victor@publicsc.com
+1 514.377.1102
Investor Relations:
Xebec Adsorption Inc.
Brandon Chow, Director, Investor Relations
bchow@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.
Been following RVV for a while and their IP Portfolio is definitely a differentiater for them.
In a field of so many speculative plays its nice to see a company that is actually in the field doing real testing and trials for applicable medicine.
COV treatments, Mushroom applications and Cannabis drug therapies are all pretty great areas to be in.
The recent financing should provide the capital they need to take things to the next level, both operationally and with regards to senior exchanges.
GLTA & JMO
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
victor@publicsc.com
+1 514.377.1102
Investor Relations:
Xebec Adsorption Inc.
Brandon Chow, Director, Investor Relations
bchow@xebecinc.com
+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.
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 avservices@tmx.com. 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
Psychedelics ETF to launch after sector attracts Thiel's money
Michael Bellusci, Bloomberg News
The world’s first exchange-traded fund for psychedelic-drug companies will debut this week in Toronto, as the investment industry tries to capitalize on rising interest in prospective mental health treatments using the drugs.
The Horizons Psychedelic Stock Index ETF, listed as PSYK, is expected to start trading Wednesday on the NEO Exchange, its operator said. The fund will track the North American Psychedelics Index.
Companies that work with drugs containing compounds such as psilocybin, the substance in magic mushrooms that produces psychedelic effects, are multiplying. Some early-stage investors are betting the drugs could disrupt the US$70 billion market for mental health treatment. The wave of enthusiasm over cannabis shares in recent years has, in some ways, spread to these drugs that were long associated with all-night rave parties.
Shares of companies like MindMed Inc. and Peter Thiel-backed Compass Pathways Plc have soared in recent months. MindMed has risen more than 10-fold since their first day of trading in Canada in March, giving it a market value of $1.4 billion (US$1.1 billion). The New York-based company said recently that it had raised about $237.2 million since being founded.
Compass’s U.S.-listed shares have risen about 165 per cent since an initial public offering in September, lifting its market value to US$1.6 billion. Jason Camm, Thiel Capital’s chief medical officer, is on the board.
The North American Psychedelics Index, created by Solactive AG, was down 2.7 per cent as of 12:45 p.m. New York time on Tuesday after five straight days of gains. It’s up about 14 per cent since the start of trading Jan. 18.
Cannabis Comparison
As more psychedelic firms go public, Steve Hawkins, chief executive officer of the ETF’s operator, Horizons ETFs Management Canada Inc., said the time was right to offer the new investment option. He said the company has received more inquiries on its website about the psychedelics ETF than it did about its first marijuana ETF, which launched in 2017 as HMMJ.
That marijuana fund has been on a wild ride. After debuting at $10 per unit, it surged to more than $26 on euphoria about Canada’s cannabis legalization, then collapsed below $5 last year. This month, it climbed back above the IPO price.
To be included in PSYK, companies must maintain at least a $25 million market capitalization, $0.10 stock price and $125,000 average daily traded value, Hawkins said. Revive Therapeutics Ltd., Mind Cure Health Inc. and Mydecine Innovations Group Inc. are among companies saying they’ll be included into PSYK.
Kevin O’Leary, an early investor in MindMed who’s chairman of O’Shares Investments and has no relationship with Horizons, said the psychedelics sector needed indexing because it’s too risky for institutional investors to bet on just one early-stage company or drug trial. O’Leary, who also owns shares of Compass, said he looks for companies conducting multiple trials and attracting capital.
O’Leary and other investors in the sector chafe at the comparisons between psychedelics and cannabis, emphasizing that they’re seeking to scale up mental health therapies and research and aren’t immediately focused on recreational sales.
“We could not be further from what the cannabis industry became,” said MindMed co-CEO JR Rahn. Psychedelics are a new asset class, Rahn said, aiding in the urgent need for new and innovative mental health treatments. He said he expects pharmaceutical giants to seek partnerships in the sector.
In 2019, the U.S. Food and Drug Administration gave the green light to Johnson & Johnson’s prescription nasal spray Spravato, a close chemical cousin of the anesthetic ketamine that works quickly to alleviate symptoms of depression.
Soon is relevant.
But losses are absolute.
GLTA & JMO
Whats 2 months in a swan dive over the last 2 years? or was it 3 years?
LMAO.
GLTA & JMO
Uplist to TSX!
Thursday opening bell.
GLTA & JMO
And another new high.
Today we saw $10.07 CDN.
GLTA & JMO
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
No worries.
They are going to the NASDAQ! *wink wink*
I cant even make this stuff up.
GLTA & JMO
Xebec Expands Product Portfolio and Enters German Hydrogen and Renewable Natural Gas Markets with Acquisition of Inmatec
December 17 2020 - 04:10PM
Xebec Adsorption Inc. (TSXV: XBC) (“Xebec” or the "Corporation"), a global provider of clean energy solutions, is pleased to announce it has entered into a definitive agreement to acquire all of the issued and outstanding shares of Inmatec Gase Technologie GmbH & Co. KG, Inmatec GmbH and Inmatec Gas Technology FZC RAK (collectively, “Inmatec”), in the United Arab Emirates (the “Acquisition”).
"We’re excited to be announcing another strategic acquisition for us this month. Inmatec builds on our thesis for onsite generation of gases as it enables customers to achieve significant cost and emission reductions," said Kurt Sorschak, Chairman, CEO and President of Xebec Adsorption Inc. “Inmatec is one of the world leaders in onsite nitrogen and oxygen generators and has achieved impressive scale with over 8,000 units deployed worldwide. Their German manufacturing and engineering capabilities have resulted in a reputation for high quality and extremely reliable products.”
"Notably, Inmatec complements both our onsite hydrogen generators, which are produced by HyGear and our own industrial air and renewable natural gas products. We see good value in cross-selling these solutions throughout our industrial service companies in North America and our combined customer base. Most importantly, Inmatec will give us a Cleantech Service Network footprint in parts of Europe, the Middle East and Africa, and an entry into the German hydrogen and RNG market. There are over 8,900 biogas installations which could be converted to produce RNG and Germany has announced plans to invest up to Euro 9 billion in hydrogen. Inmatec is ideally positioned to leverage their 40+ distribution partners to also sell our renewable natural gas and hydrogen systems."
"As we look forward to 2021, we’re excited to be increasing the scope of our capabilities and evolve into a truly global company. I’d like to once again congratulate all the teams on all their hard work and give Inmatec a warm welcome to the Xebec family,” added Mr. Sorschak.
Inmatec Acquisition Overview and Rationale
Worldwide leader in onsite nitrogen and oxygen products
Founded in 1993, Inmatec is an international market leader in the production of nitrogen and oxygen generators. Designed, developed and produced in Germany, over 8,000 Inmatec systems have been deployed and sold around the world. Similar to HyGear, onsite generation of nitrogen and oxygen reduces the need for transportation, saving on costs and reducing the burden on the environment.
Growth opportunities by bringing products to North America and cross-selling
Inmatec’s products and manufacturing are among the best-in-class and this acquisition will give Xebec an accelerated entry into offering these products in North America. Currently, Inmatec’s target markets are in parts of Europe, the Middle East and Africa (“EMEA”). Due to the complementary nature of customers and industries, Xebec’s and HyGear’s products can also be sold through Inmatec, giving another sales channel and platform for growth in the EMEA region.
Cleantech Service Network expansion into Europe and entry into German Hydrogen renewable natural gas markets
With over 260 technicians actively servicing equipment across Europe, Inmatec’s own and partner workforce will be retrained and retooled to work with renewable gases. This positions Xebec favorably in the purchasing decision process when customers select a vendor for a multi-million-dollar hydrogen or renewable natural gas installation. Xebec believes service is an important customer need and sees it as a competitive advantage due to the lack of a similar offerings from other vendors.
In addition, Inmatec’s distribution network of 40+ worldwide and regional partners create an opportunity to enter Germany’s evolving hydrogen market and Europe’s largest potential renewable natural gas market. Germany has approximately 8,900 active biogas installations and approximately 280 of them are producing RNG today. These existing facilities are potential candidates for conversion to renewable natural gas and potentially decentralized green hydrogen production.
Exposure to the fast-growing medical oxygen market
Inmatec’s business operations have expanded significantly year-over-year from 2019 to 2020. This expansion is largely attributed to the associated demand from the COVID-19 pandemic response, which requires larger amounts of medical grade oxygen in hospitals around the world. This exposure is beneficial to Xebec by giving the company the capabilities to now manufacture and sell this equipment in North America and makes the company one of the few with these capabilities in Canada. Ultimately, the pandemic has helped hospitals realize the cost benefits and self-sufficiency that comes with onsite oxygen generation.
The Acquisition, which is one of the two “LOI Acquisitions” announced by Xebec on December 8, 2020, will be financed with the proceeds from the public offering and the concurrent private placement announced by Xebec on December 8, 2020 and December 9, 2020. The release of proceeds from such public offering and the concurrent private placement and the exchange of the subscription receipts into common shares of the Corporation are not conditional upon the closing of the Acquisition. The Acquisition is expected to close on or about February 28, 2021. The Acquisition has been unanimously approved by the Board of Directors of Xebec and is subject to regulatory approval and other customary closing conditions.
Advisors
Desjardins Capital Markets and TD Securities Inc. acted as financial advisors on the Acquisition.
Related links
https://www.xebecinc.com
https://www.inmatec.de/en/startsite.html
Investor Relations:
Xebec Adsorption Inc.
Brandon Chow, Investor Relations Manager
bchow@xebecinc.com
+1 450.979.8700 ext 5762
Media Inquiries:
Public Stratégies et Conseils for Xebec
Victor Henriquez, Senior Partner
victor@publicsc.com
+1 514.377.1102
Try proving KNOWINGLY in a court of law. Its the reason OTC companies get away with screwing shareholders without repercussions.
The first thing they ask you if you are or ever have been a shareholder.
And who the heck cares about the interview. Its not legally binding like filings are.
Hence the safe harbour.
I feel like Im talking to a flat-earther.
Over and out.
GLTA & JMO
I cant post a complaint since I am not a shareholder.
And I have seen worse shell games on the OTC that never go investigated because they are ALL PROTECTED BY SAFE HARBOR statements.
See how that works?
Lets see what the 10K shows.
Im betting no profit and a boatload of dilution.
Then the RS.
GLTA & JMO
Yep. Pretty obvious for those who have some tenure with investing.
I hope I’m wrong but I doubt it.
GLTA & JMO
They absolutely do not.
And they will NEVER be allowed to trade on the Nasdaq.
NEVER.
GLTA & JMO
LOL.
They are going to the NASDAQ!
*wink wink*
I cant even make this stuff up.
I hate to say I told em so, but I did.
R/S and then rinse, repeat.
GLTA & JMO
A new high.
Not surprising after news like we got yesterday.
:)
GTLA & JMO
Wow. What a piece of news!
Upwards and onwards!
GLTA & JMO
Yes. I added an extra B for all the BS that gets floated by the company.
And thanks for the income/rev requirements. You should also look up the governance requirements.
THEY WILL NEVER BE ON THE NASDAQ.
Dont get wiped out twice.
GLTA & JMO
That locomotive is actually an outhouse dressed up as a locomotive.
After any RS you will see the price plummet again.
I wonder if all those insiders and shares used as payment have anti-dilutive clauses.
Hmmmm.
GLTA & JMO
Check the requirements for NASDAQ and let us all know how many of those boxes HALO checks.
They are never going to the NASDAQ.
They may find it difficult to even stay on the OTCBQX at this rate.
A 200:1 RS
Like I said.. dilution up the wazooo. Put that in a pipe and smoke it.
LOL
GLTA & JMO
As I said.. Never.
And as I said.. a R/S was imminent.
200:1
Yikes.
I feel sorry for all shareholders who have held over the last couple of years.
GLTA & JMO
Canada Banks Seek Seat at Xebec Talks Amid Hydrogen Fervor
By Esteban Duarte
November 29, 2020, 10:00 PM PST Updated on November 30, 2020, 7:49 AM PST
Montreal-area firm explores strategic M&A in China and Europe
Xebec to seek a credit rating ahead of potential ESG financing
Canadian banks are eager to gain exposure to growing momentum in the hydrogen industry, giving talks surrounding Xebec Adsorption Inc.’s debt the characteristics of a “tender,” according to Chairman Kurt Sorschak.
The provider of clean energy solutions is seeking to replace two of its credit facilities. Three large Canadian banks have entered talks, and the new financing could be “almost ten times larger” than those existing, Sorschak said in an interview.
The company is looking to replace credit lines for a total of C$4.5 million ($3.5 million), which are currently provided by National Bank of Canada and Export Development Canada. The new deal is expected to be ready in December, he said.
Xebec is bolstering its access to credit soon after reorganizing its partnership with Shenergy Group, a Chinese state-owned utility that’s preparing to roll out hydrogen refueling stations and onsite generation infrastructure. The company’s stock - which has jumped close 175% so far this year - rose Monday as much as 1.87% to C$5.98 compared to a decline of 1.4% in the S&P/TSX Composite Index. It had an equity market value of almost C$633 million as of 10:42 a.m. in Toronto.
In the past, banks “have been very restrictive on the commercial facilities,” said Sorschak. Currently, “they are very, very aggressive.”
Governments, energy producers and carmakers around the world have pointed to hydrogen as pivotal for cutting greenhouse-gas emissions and preventing the worst effects of climate change. That’s triggered a global race to stake claims in what could be a $700 billion business by 2050, according to BloombergNEF. In Canada, hydrogen is the clean energy investment that appeals the most to country’s asset managers, according to a survey carried out for HSBC Holdings Plc.
While the company is “sufficiently capitalized for the time being,” it could explore the issuance of equity and debt to finance a strategic acquisition, he said. In the medium-term, Xebec plans on getting a credit rating ahead of a potential sustainable debt transaction, Sorschak said.
The firm is looking for a potential “strategic” M&A transaction in China and Europe, where governments are ramping up support for the hydrogen industry, he said.
Targets in North America are very limited because big companies have already bought firms operating in the space. However, investment plans around hydrogen are taking off, said Sorschak, citing Enbridge Gas Inc.’s recent announcement of a so-called blending pilot project with Cummins Inc.
In Canada, “we have the potential to be a hydrogen superpower,” said Sorschak, because the country can produce “a lot of cheap natural gas out in Alberta.” He added that the country also it has an abundance of of hydro-power electricity.
— With assistance by Michael Bellusci
New all time high.
$6 and climbing.. :)
GO XBC!
GLTA & JMO
Top tier of the junkpile isnt anything to be proud of.
I predict a new low ahead of tax-loss selling season.
GLTA & JMO
TIMMMMMBERRRRRRRRR!
Get ready for a new low.
Dont say the warnings werent presented.
GLTA & JMO
NO CHANCE. No way this is going to NASDAQ.
Just the annual costs would bankrupt this company. I always hear NASDAQ uplisting from these penny stocks that cant even get a listing on their regional senior exchanges. LOL
I mean really.. Maybe if you can get coverage by an actual analyst.. but this will likely reverse split 3 times before that happens.
GLTA & JMO
BINGO.
The spigots of dilution and lies are WIDE OPEN.
GLTA & JMO
Will likely see a new low ahead of the December deadline.
GLTA & JMO
More garbage from a stock that has lost 99% of its value over the last 2 years.
MORE DILUTION COMETH.
And then the R/S.
Seen it a million times.
GLTA & JMO
Wait for it.
Tape painting at the close is not a great omen.
GLTA & JMO
Xebec and Shenergy Strengthen Partnership to Develop China’s Growing Hydrogen Market
- Xebec Shanghai will receive a direct strategic investment from Shenergy to collaborate on building China’s hydrogen infrastructure -
MONTREAL, (QC), November 12th, 2020 – Xebec Adsorption Inc. (TSXV: XBC) (“Xebec”), a global provider of clean energy solutions, today announced a strengthened partnership with Shanghai based Shenergy Group Company Limited (“Shenergy”). Initially formed in 2015, the existing Sino-Joint Venture partnership with Xebec Shanghai, will receive a direct strategic equity investment ($3.4M) from Shenergy in exchange for the debt and interest owed by Xebec for its share buyback obligation. The newly formed partnership will open large-scale opportunities to develop hydrogen infrastructure in China. Shenergy is one of several designated state-owned enterprises tasked with building out hydrogen infrastructure in Shanghai and across China.
“Xebec has been a valuable partner since 2015 when we embarked with them to collaborate on hydrogen projects in China. The hydrogen fuel market is now starting to accelerate with China’s new government policies, and we wanted to strengthen our relationship with this strategic investment. Xebec’s PSA technology platform is known for its robust performance, compact footprint and low operating costs for hydrogen purification. We see Xebec’s solutions and expertise as a key component in our mandate for the rollout of hydrogen refueling stations and onsite hydrogen generation infrastructure. I look forward to our collaboration and it is our honor to be working with a worldwide renewable gas leader,” states Xue Feng Song, Deputy General Manager at Shenergy Group Company Limited.
“We’re excited to be taking our partnership with Shenergy to the next level. Shenergy is an energy leader in China and has been a key partner for Xebec Shanghai since 2015. They saw an opportunity to further our relationship by making a strategic equity investment into Xebec as they prepare for China’s new hydrogen policy, one of the most aggressive in the world. This partnership will help us grow our hydrogen business in Asia and is expected to have a positive impact on our activities in Europe and North America as Xebec integrates with and benefits from the growing hydrogen supply chain in China,” says Kurt Sorschak, President & CEO, Xebec Adsorption Inc.
China’s new policy sets a framework for one million FCEV on the road by 2030
Announced in September, China set an aggressive hydrogen policy which targets 1 million fuel cell electric vehicles (FCEVs) on the road by 2030. Part of this target is an initial five-year plan for the accelerated development of the hydrogen fuel cell vehicle industry, with an aim to achieve a total deployment of 10,000 FCEVs and a total economic output of RMB 24 billion by 2025.
There have been approximately 7,200 FCEVs and 80 refueling stations deployed in China to date. Xebec believes this new policy showcases the strategic significance of FCEVs for the decarbonization of transportation and hydrogen’s extended use within industry.
In addition, China’s new hydrogen policy was followed by the country’s pledge to be carbon neutral by 2060. The country now joins more than 60 others who have pledged carbon neutrality by 2050. Hydrogen is expected to play a key part in reducing the world’s greenhouse gas (GHG) emissions by displacing the use of higher carbon-based fuels.
Strengthened partnership will allow Xebec to scale its hydrogen footprint and improve its balance sheet
Xebec Shanghai has successfully deployed 25 hydrogen purification systems in China to date with an additional seven scheduled for commissioning over the next few months. These systems have historically been used for refinery or petrochemical off-gas purification to provide high purity hydrogen for FCEVs or industrial applications. As a result of the new policy, additional applications are expected to open up, such as hydrogen refueling infrastructure and de-centralized hydrogen production where Xebec’s technology will be needed.
Shenergy in effect has converted the debt Xebec owed to Shanghai Chengyi New Energy Venture Capital Co., Shenergy’s financial services subsidiary, into a direct strategic investment of equity. Consideration of approximately $1.7M will be paid for the outstanding interest owed by Xebec, and the $3.4M of long-term debt will be moved into the equity section of Xebec’s balance sheet. Following the transaction, Xebec will own 60% of the Sino-Joint Venture with 35% belonging to Shenergy and 5% to a management incentive pool.
The definitive agreements for the investment have been signed at the end of October, and closing is expected to occur at the end of December 2020. Xebec and Shenergy will have board representation in Xebec Shanghai and decisions will need a greater than two-thirds majority. Consequently, after closing, IFRS requires that Xebec no longer consolidate Xebec Shanghai into its financial statements; instead, Xebec will consolidate the proportional profits and losses of Xebec Shanghai.
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Xebec Expands Cleantech Service Network with Acquisition of Pennsylvania Based The Titus Company
11/02/2020 8:00:00 AM
- Fifth acquisition in Xebec’s strategy to rapidly expand its cleantech service offering for renewable natural gas and hydrogen installations in North America-
MONTREAL, Nov. 02, 2020 (GLOBE NEWSWIRE) -- Xebec Adsorption Inc. (TSXV: XBC) (“Xebec”), a global provider of clean energy solutions, is pleased to announce it has entered into an agreement effective October 30th, 2020, to acquire all of the outstanding shares of “The Titus Company” (Titus). Titus’ principals will remain with Titus after the acquisition to optimize their integration into Xebec’s Industrial Service and Support business and to grow the operation over the coming years. With this acquisition, Xebec’s Cleantech Service Network (CSN) coverage will increase to include Eastern Pennsylvania, Delaware and New Jersey.
Total consideration payable by Xebec is approximately $8.0M, subject to certain holdbacks, adjustments and time-based payments. Titus had revenues of $12.3 million for FY2019 with an EBITDA margin of approximately 13.5%. Titus is on track and expected to achieve similar revenue and profitability for FY2020. As with other acquisitions, Xebec expects that Titus’ growth and profitability could be improved with product, sourcing and back-office synergies.
“Over three decades ago I founded The Titus Company to support local Pennsylvania, New Jersey, and Delaware companies with their compressed air service needs. We are happy with what has been achieved to date and it’s time for the company to enter its next chapter. Titus’ legacy of superior capabilities in the compressed air industry will continue, and we will begin to support Xebec’s vision in renewable gases. I am thrilled to be handing off the company to a cause that can make the world a better and more sustainable place,” states Stephen Titus, Owner of The Titus Company.
“Since I started at Titus in 2017, we have made great progress in growing the business and solidifying Titus’ leadership in the states we operate in. The renewable gas industry offers an exciting pathway to future growth as we look to retool and retrain our service technicians to work on renewable natural gas and hydrogen installations. I believe that we can achieve many synergies by collaborating with Xebec and having this relationship in place is important to us,” Sean Dempsey, Chief Executive Officer at The Titus Company.
“We’re happy to welcome another member to the Xebec family. Titus has a stellar track record in the compressed air service industry with several Fortune 500 companies and the U.S Navy as customers. Their expertise and presence will be helpful in rounding out our capabilities on the U.S East coast as more customers explore decarbonization pathways that include renewable gases,” says Dr. Prabhu Rao, Chief Operating Officer at Xebec Adsorption Inc.
About “The Titus Company”
Founded in 1986 by Stephen and Donna Titus, “The Titus Company” has been in partnership with large and small companies throughout the Eastern Pennsylvania, Delaware and New Jersey regions. Wherever compressed air is used, The Titus Company provides superior expertise and the capability to serve a wide range of needs from Fortune 500 companies like DuPont and Air Products and Chemicals, to local businesses like Amish Country Gazebos and RV Industries. The Titus Company is also the largest supplier of air dryers to the United States Navy.
Related links:
https://www.xebecinc.com
For more information:
Xebec Adsorption Inc.
Brandon Chow, Investor Relations Manager
bchow@xebecinc.com
+1 450.979.8700 ext 5762
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. For more information, www.xebecinc.com.