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Press Release

Xebec and JNK Heaters Form Strategic Partnership
- highlighting Xebec’s entry into the renewable hydrogen and hydrogen fuel cell space -

Release date: 01.05.2018

Press Release PDF

MONTREAL, (QC), May 1, 2018 – Xebec Adsorption Inc. (TSXV: XBC) (“Xebec”), a global provider of clean energy solutions for the industrial, energy and renewables marketplace, is pleased to announce a strategic partnership, with JNK Heaters Co. Ltd. (“JNK”) of Korea to advance biogas upgrading and on-site hydrogen generation solutions. Through this collaboration, JNK will exclusively market the Xebec biogas solutions in Korea and India and use Xebec innovative Pressure Swing Adsorption (PSA) technology in their on-site Steam Methane Reformer (SMR)-based hydrogen generation products. Additionally, Xebec will have exclusive rights to manufacture and market JNK’s SMR-based on-site hydrogen generators in North America and Europe. Both companies will also explore opportunities to collaborate in the Chinese market.

This partnership will enable both companies to address emerging opportunities in the biogas, renewable hydrogen generation, hydrogen purification and refueling industry. With the introduction of hydrogen Fuel Cell Vehicles (FCV’s) around the world, there is a need to develop renewable sources of hydrogen, and the market for reliable and cost effective on-site hydrogen generators is expected to grow over the next few years. Xebec and JNK will combine their complementary expertise to develop such solutions for fuel cell automotive, fork lift and heavy duty applications. Details on potential project value and timeframe will follow in the near future.

“Xebec is delighted to partner with a global leader like JNK. Their twenty-year experience as a prominent Engineering, Procurement & Construction (EPC) company for large SMR projects, their state-of-the-art project management system and various simulation programs and services lines up perfectly with our vision. JNK’s technology for SMR integration into on-site hydrogen refueling stations, and Xebec’s innovative PSA technology are well suited as renewable energy technology solutions for industrial use, transportation, electrical grids and the public sector. This collaboration will allow both companies to gain market share in the rapidly developing Hydrogen Fueling, Renewable Hydrogen and Renewable Natural Gas (RNG) markets.”— Kurt Sorschak, President and Chief Executive Officer, Xebec Adsorption Inc.

“It’s really great for JNK to collaborate with Xebec, one of the best solution providers of clean energy for the renewables marketplace. This will allow both companies to branch into new business surroundings. JNK is particularly pleased to turn its focus on environmentally-friendly renewable energy with the assistance of cutting edge technologies and decades of Xebec experience. This collaboration will strengthen both companies’ capabilities, not only extending existing business, but also in efficiently expanding new business.” – Bang Hee Kim, President and Chief Executive Officer, JNK Heaters Co., Ltd.

For more information:

Xebec Adsorption Inc.
Sandi Murphy, Director, Investor Relations and Communications
+1 450.979.8718 smurphy@xebecinc.com

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.

About JNK Heaters
JNK Heaters Co., Ltd., a publicly traded company in South Korea, is a global provider of process-fired heaters and furnaces - core equipment in petrochemical & refinery plant facilities. It was spun off from Daelim Engineering, one of the largest Korean EPCs, in 1998, and has grown to be Korea’s top enterprise for industrial-fired heaters. It has been listed on the Seoul Stock Exchange since 2011 (KOSDAQ: 126880). Along with its continued global success in industrial-fired heaters, JNK has developed new entries for the hydrogen market - steam methane reformers (SMR) and hydrogen refueling stations (HRS), supporting renewable energy industries. For additional information on the company, its products and services, visit JNK at http://www.jnkheaters.co.kr

Cautionary Statement
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain statements in this press release may constitute "forward-looking" statements within the meaning of applicable securities laws. This forward looking information includes, but is not limited to, the expectations and/or claims of management of Xebec with respect to information regarding the business, operations and financial condition of Xebec. Forward-looking information contained in this press release involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Xebec or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. This list is not exhaustive of the factors that may affect forward-looking information contained in this press release. When used in this press release, such statements use such words as "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "will" and other similar terminology. These statements reflect current expectations regarding future events and operating performance and speak only as of the date of this presentation. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements.