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Press Release

Xebec and Furui HP Announce an Alliance
- continuing Xebec’s entry into the renewable hydrogen and hydrogen fuel cell space-

Release date: 02.05.2018

Press Release PDF

MONTREAL, (QC), May 2, 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 Cooperation Agreement with Zhangjiagang Furui Hydrogen Power Equipment Co. Ltd (“Furui HP”). Through a cooperative exchange, Furui HP will deploy Xebec’s Pressure Swing Adsorption (PSA) to purify hydrogen and enable their renewable hydrogen energy supply chain. They will also identify other market opportunities within China, collaborating with Xebec Shanghai on technical and commercial proposals. Details on potential project value and timeframe will follow in the near future.

Through complementary expertise, Furui HP and Xebec will work together over the next three years to help accelerate the development of hydrogen energy solutions in China, particularly as it relates to liquid hydrogen production and hydrogen mobility with fuel cell vehicles. Furui HP already provides solutions for the hydrogen economy, including upstream hydrogen generation, midstream transportation and storage, and downstream distribution and terminal equipment like hydrogen refueling stations and hydrogen dispensers. Xebec has diverse experience in the global clean energy space, designing and manufacturing gas purification products and renewable energy technology solutions for industrial use, transportation, electrical grids and the public sector, and sees itself as a facilitator of the global energy transition. Furui HP was searching for this expertise and believes this collaboration is a perfect fit for their vision moving forward.

“There is a global effort to introduce zero emission fuel cell electric vehicles and the need for cost-effective renewable hydrogen fuel and fueling infrastructure is a great opportunity. Xebec is proud to partner with a strong company like Furui HP whose experience in the hydrogen field, coupled with our gas purification technology, will allow both companies to gain market share in the rapidly developing China market.”
— Dr. Prabhu Rao, Chief Operating Officer, Xebec Adsorption Inc.

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 Zhangjiagang Furui Hydrogen Power Equipment Co. Ltd.
Zhangjiagang Furui Hydrogen Power Equipment Co., Ltd. (Furui HP) is a subsidiary of a privately listed company, Zhangjiagang Furui Special Equipment Co., Ltd. (Furuise) stock code: 300228. In 2014, Furuise determined that their key development strategy would concentrate on the hydrogen energy equipment business, and set up Furui HP in 2016. Utilizing Furuise's expertise in the liquefied natural gas (LNG) industrial chain, Furui HP provides solutions for the end-to-end hydrogen energy equipment industrial chain, including upstream hydrogen generation, midstream transportation and storage, and downstream distribution and terminal supply, promoting the development of the hydrogen energy economy in China. For additional information on the company, its products and services, visit http://www.en.furuihp.com

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.