XEBEC APPLAUDS ITALY FOR STRONGLY SUPPORTING BIOMETHANE PROJECTS
- US$5.73 BILLION FOR ADVANCED BIOMETHANE AND BIOFUELS -
MONTREAL, (QC), March 7, 2018 – Xebec Adsorption Inc. (TSXV: XBC) (“Xebec”), a global provider of clean energy solutions for the industrial, energy and renewables marketplace, is pleased to note that the European Union (EU) approved a 4.7 billion euro (US$5.73 billion) support scheme in Italy for advanced biomethane and biofuels and, on March 2nd, the Biomethane Decree was signed.
This is great news for Xebec and Italian partner, SAPIO Produzione Idrogeno Ossigeno Srl, Italy’s largest distributor of technical gases, who recently signed a 3-year agreement with Xebec to help develop Italy’s renewable natural gas (RNG) upgrading infrastructure from biogas facilities such as landfills, digesters and waste water treatment plants.
“The scheme will encourage the production and consumption of advanced biofuels in Italy, while limiting distortions of competition,” Competition Commissioner Margrethe Vestager said in a statement. The scheme will support the distribution and production of advanced biofuels and biomethane used in the transport sector, by paying premiums to compensate for the higher costs compared to traditional fuels.
According to Piero Gottoni, President of the Italian Biogas Association (CIB) “2018 will finally be the year of change. The one in which the first agricultural biomethane plant can be inaugurated. I am also pleased with how the Government has really committed itself: proved by the speed with which the Biomethane Decree was signed, just one day after the positive opinion was issued by the European Commission.
The long wait has never made us lose confidence and now this trust is placed in the entrepreneurial capacity of our farms that can finally activate investments and demonstrate, once again, that the agricultural revolution of “Biogasfattobene” can really make a contribution to the country's economy, keeping the principles of environmental sustainability balanced.”
For more information:
Xebec Adsorption Inc.
Director, Investor Relations and Communications
+1 (450) 979 8718
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.
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