Xebec Announces a C$5.9 Million Order for France
MONTREAL, QC / ACCESSWIRE / November 29, 2018 / Xebec Adsorption Inc. (TSXV: XBC) (OTC: XEBEF) (FRANKFURT: XB6) ("Xebec"), a global provider of clean energy solutions announces strong order activity for France with a C$5.9 milllion order for multiple biogas upgrading Pressure Swing Adsorption (PSA) units to be delivered in 2019.
Xebec's French partner has won contracts for biogas upgrading systems where Xebec will supply core technology while its partner will provide the balance of plant for the biogas upgrading systems. This follows the twelve contracts announced last November (see related link below), reinforcing Xebec's position as market leader for PSA purification technology in France.
This order follows on the heels of a recent Press Release from Engie, a global energy provider, (see related link below) announcing that €800 million would be mobilized in the next five years to develop green gases, a new French sector of excellence that will create value and jobs in France. The plan will support the objective of at least 10% green gas injected into the networks by 2030, as enshrined in the French Energy Transition Law for Green Growth.
Facts on France's Renewable Gas Activity (source: Engie website – Oct 25, 2018)
At the end of 2017:
Over-all gas consumption: 494.26 TWhHHV.
548 installations produced biogas
630 GWh of biomethane were injected into the natural gas grid: biomethane constituted the equivalent of the annual consumption of roughly 50,000 households or 2,500 buses, and prevented 40,000 tonnes of CO2 emissions
66 sites are already injecting biomethane into the natural gas grid; over 800 projects are under study; and more than 400 projects have been entered in the capacity register (July 2018). Xebec – Global Experience / Local Supply
Given the increased activity in Europe, Xebec has been building a strong supply chain in Europe to manufacture and deliver its biogas PSAs and upgrading systems for European markets.
"Xebec has already successfully delivered over 50 biogas systems in the last 15 years, so we know our experience plays an important role in being a supplier of choice for the multitude of projects now surfacing both in North America and Europe. Now that we are in position to support local manufacturing and service needs, we are confident that our solutions offer the best value in the marketplace."
Dr. Prabhu Rao, COO, Xebec
"A break-through in our adsorption technology has improved the methane recovery from anaerobic digesters (AD) and landfills while maintaining low operating costs, a winning combination. Other product attributes: reliability - our PSAs have accumulated over 15 million commercial operating hours with proven availabilities beyond 99.9%; and flexibility - Xebec's proprietary fast-cycle rotary valve can be automatically adjusted for gas flow and composition while maintaining gas purity. With reduced process complexity and smaller footprint, Xebec's complete systems are delivered as skidded, containerized modules for simple, fast installation, all of which result in considerable cost savings."
- Dr. Amir Ghasdi, Director, Biogas Solutions, Xebec. In Other News
Xebec has approved the granting of 735,000 stock options to Prabhu Rao. The date of the grant was on November 19th, 2018. The strike price was at the fair market value of Xebec Adsorption Inc. stock as of the closing date of November 16th, 2018. The vesting period will be based on the performance of the Company and Prabhu Rao for the years ended December 31st, 2018 and/or 2019 and the duration will be seven (7) years.
Related links: https://www.xebecinc.com/investor-press-releases-details.php?id=285 https://www.engie.com/wp-content/uploads/2018/11/pr-engie-biogas-industrial-plan.pdf https://www.xebecinc.com
For more information:
Xebec Adsorption Inc.
Sandi Murphy, Director, Investor Relations and Communications
+1 450.979.8718 firstname.lastname@example.org About Xebec Adsorption Inc.
Xebec Adsorption Inc. is a global provider of gas generation, purification and filtration solutions for the industrial, energy and renewables marketplace. Its customers range from small to multi-national corporations and governments looking to reduce their carbon footprints. Headquartered in Montreal (QC), Xebec designs, engineers and manufactures innovative and transformative products, and has more than 1,500 customers worldwide. 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, visit Xebec at xebecinc.com.