Xebec Adsorption Inc (XBC)

[junkHustler]

Xebec Obtains C$23M of Additional Financial Support from Export Development Canada (EDC)

Credit Facilities for C$11 Million and Bonding Facility for C$12 Million to Support Xebec’s Accelerated Growth

Montral, Qubec (FSCwire) - Xebec Adsorption Inc. (TSXV: XBC) (“Xebec”), a global provider of gas purification solutions for the industrial, energy and renewables marketplace, announces today that it has obtained C$23 million of additional financial support from Export Development Canada (EDC), Canada’s export credit agency. The financial support consists of a credit agreement worth C$11 million with two credit facilities, and a 3 year term consisting of a C$2 million working capital line and a C$9 million Purchase Order (PO) facility. In addition, Xebec has also secured a C$12M bonding facility with EDC. The bonding facility will be used to support the issuance of multiple bank guarantees.

Quotes:

“We are very pleased and excited that EDC has extended these facilities to Xebec. This will allow us to fund working capital requirements to support our existing backlog and new orders for our international projects. Xebec’s order backlog has increased by some 600% in the last few months to over C$ 65 million, driven by solid demand for our cleantech solutions in the hydrogen and biogas upgrading space, and these facilities will play an important role in our ability to deliver these orders and continue to profitably grow Xebec.”

- Kurt Sorschak, President & CEO, Xebec

“Supporting clean technology solutions like those developed, engineered and manufactured by Xebec is a priority for EDC. We are particularly pleased to support one of our Cleantech Export Stars as they expand internationally and bring more of their innovative hydrogen and biogas purification technology solutions to the world.”

- Mark Senn, Director of EDC’s Cleantech Team

Related links:

https://www.xebecinc.com
https://www.edc.ca/en

For more information:

Xebec Adsorption Inc.
Sandi Murphy, Director, Investor Relations and Communications
+1 450.979.8718 [e-mail]

About Xebec Adsorption Inc.
Xebec Adsorption Inc. is a global provider of clean energy solutions to corporations and governments looking to reduce their carbon footprints. With more than 1,500 customers worldwide, Xebec designs, engineers and manufactures innovative products that transform raw gases into marketable sources of clean energy. Xebec’s strategy is focused on establishing leadership positions in markets where demand for renewable energy through gas purification and generation, natural gas dehydration, and filtration is growing. Headquartered in Montreal (QC), Xebec is a global company with two manufacturing facilities in Montreal and Shanghai, as well as a sales and distribution network in North America, Europe, and Asia. Xebec trades on the TSX Venture Exchange under the symbol XBC. For additional information on the company, its products and services, please visit the Xebec website at www.xebecinc.com.

About Export Development Canada
EDC helps Canadian companies go, grow, and succeed in their international business. As a financial Crown corporation, EDC provides financing, insurance, bonding, trade knowledge, and matchmaking connections to help Canadian companies sell and invest abroad. EDC can also provide financial solutions to foreign buyers to facilitate and grow purchases from Canadian companies. For more information, call 1-888-434-8508 or visit www.edc.ca.