MONTREAL, (QC), March 29, 2022 – Xebec Adsorption Inc. (TSX: XBC) (“Xebec”), a global provider of sustainable gas technologies, is pleased to announce today its three-year strategic plan to power its growth in sustainable gases. The plan is being presented today at Xebec’s first investor day in Denver, CO and is expected to position the company to target approximately CAD$300–$350 million in revenues and an adjusted EBITDA margin (non-IFRS)[1] of approximately 8%–10% in its fiscal year ended December 31, 2024 (“FY2024”). By executing on its strategy, Xebec plans to become a global powerhouse in the field of more environmentally friendly gases for energy, mobility and industry.

Key Strategy Highlights

  • Capitalizing on large addressable markets in renewable natural gas (USD$42 billion[2]), carbon capture & sequestration (USD$27 billion[3]) and the upcoming hydrogen economy (USD$2.5 trillion[4])
  • Adding U.S. renewable natural gas manufacturing and sales base with a focus on small-scale agriculture applications and paired with a significant ramp up in annual Biostream production run rate (from 4 units in 2020 to over 100 units targeted in FY2024)
  • Going global with hydrogen business supported by target industrial customers as demand from the hydrogen mobility sector ramps up and further accelerated with a target of 20–25 decentralized hydrogen production hubs by FY2024
  • Expanding our Pressure Swing Adsorption (“PSA”) and compression technologies for Carbon Capture Utilization and Storage (“CCUS”) to reduce the carbon intensity of both our Cleantech Systems and to enter new markets in CO2 source capture and transportation
  • Introducing XBC Flow Services as a unified brand to encompass the U.S. Cleantech Service Network, industrial product sales & distribution, and targeting CAD$150+ million in global segment revenues by FY2024
  • Building on strong partnerships in North America and China to support OEM growth and create long-term value
  • Invest in new clean technologies to help drive new business models by our fiscal year ended December 31, 2025 and beyond with a target of 2%–3% per year of revenues earmarked for R&D until FY2024
  • Financial goals of CAD$300–$350 million in revenues and adjusted EBITDA margin (non-IFRS) of 8%–10% in FY2024, representing up to 40% revenue CAGR and an improvement in adjusted EBITDA margin (non-IFRS) from (7%) for our fiscal year ended December 31, 2021

“Today marks an exciting chapter in Xebec’s evolution as we chart our path over the next three years to become a global leader in sustainable gases,” stated Jim Vounassis, President and CEO of Xebec Adsorption Inc. “Over the last couple of years, we have built a strong foundation to launch off and have the right team, technologies, and business models in place to execute this three-year plan. Lastly, all of this is supported by large addressable markets in renewable natural gas, hydrogen and carbon capture” he added.

Xebec to Host Live Investor Webinar Today to Present Three-Year Strategic Plan
An investor webinar will be held today on Tuesday, March 29, 2022, at 11:00 AM MDT (1:00 PM EDT) for Xebec’s first investor day. The live event will showcase the company’s multi-year strategic plan to enable the successful execution in becoming a global powerhouse in sustainable gases.

Register here: 

Related links:

Investor Relations:
Xebec Adsorption Inc.
Brandon Chow, Director, Investor Relations
[email protected]
+1 450.979.8700 ext 5762

About Xebec Adsorption Inc.
Xebec is a global provider of clean energy solutions for renewable and low carbon gases used in energy, mobility and industrial applications. The company specializes in deploying a portfolio of proprietary technologies for the distributed production of hydrogen, renewable natural gas, oxygen and nitrogen. By focusing on environmentally responsible gas generation, Xebec has helped thousands of customers around the world reduce their carbon footprints and operating costs. Headquartered in Québec, Canada, Xebec has a worldwide presence with nine manufacturing facilities, seventeen Cleantech Service Centers and four sales offices spanning over four continents. Xebec trades on the Toronto Stock Exchange under the symbol (TSX: XBC). For more information,

Cautionary Statement

This press release contains forward-looking statements within the meaning of applicable Canadian securities law. These statements relate to future events or future performance and reflect the expectation of Xebec management regarding the growth, results of operations, performance and business prospects and opportunities of Xebec or its industry. Forward-looking statements typically contain words such as “believes”, “expects”, “anticipates”, “continues”, “could”, “indicates”, “plans”, “will”, “intends”, “may”, “projects”, “schedules”, “would” or similar expressions suggesting future outcomes or events, although not all forward-looking statements contain these identifying words. Examples of such statements include, but are not limited to, statements concerning: (i) Xebec’s expected revenues and adjusted EBITDA margin; (ii) Xebec’s growth plan and strategy to become a global leader in the field of more environmentally friendly gases for energy, mobility and industry; and (iii) Xebec’s key strategy highlights, including its ability to capitalize on large addressable markets, its addition of U.S. renewable natural gas manufacturing and sales base with expected ramp up in annual Biostream production, its global expansion into new markets, its expansion of PSA and compression technologies, its introduction of XBC flow services and the expected growth and financial results relating thereto, its ability to build on existing and new partnerships and the creation of long-term value, its plan to invest in new clean technologies and the expected outcome from such investments.

These statements are neither promises nor guarantees but involve known and unknown risks and uncertainties that may cause Xebec’s actual results, level of activity or performance to be materially different from any future results, levels of activity or performance expressed in or implied by these forward-looking statements. These risks include, generally, risks related to the ability of Xebec to execute its strategy, operating results, purchasing third party supplies for key materials and components in a timely and cost effective basis, industry and products, technology, competition, ability to attract and retain qualified personnel, ability to manage successfully the anticipated expansion of our operations, the economy, the sufficiency of insurance and other factors which are discussed in greater details in Xebec’s most recent annual management discussion and analysis (“MD&A”) and in its most recent annual information form filed on SEDAR at

Forward-looking statements contained herein are based on a number of assumptions believed by Xebec to be  reasonable as at the date of this press release, including, without limitations,  assumptions about trends in certain market segments, the economic climate generally, the pace and outcome of technological development, the identity and expected actions of competitors and customers, the value of the Canadian dollar and of foreign currency fluctuations, interest rates, the anticipated margins under new contracts awards, the state of the Xebec’s current backlog, the regulatory environment, and the procurement of key material and components of products. If these assumptions prove to be inaccurate, Xebec’s actual results may differ materially from those expressed or implied in the forward-looking statements. The forward-looking statements contained herein are made as of the date of this press release and are expressly qualified in their entirety by this cautionary statement. Except to the extent required by law, Xebec undertakes no obligation to publicly update or revise any forward-looking statements contained herein. Readers should not place undue reliance on forward looking statements.

Non-IFRS Measures

This press release refers to financial measures that are not recognized under International Financial Reporting Standard (“IFRS”). A non-IFRS financial measure is a numerical indicator of a company’s performance, financial position or cash flow that excludes or includes amounts or is subject to adjustments that have the effect of excluding or including amounts that are included or excluded in most directly comparable measures calculated and presented in accordance with IFRS. Non-IFRS measures do not have any standardized meaning under IFRS and therefore are unlikely to be comparable to similar measures presented by other companies having the same or similar businesses.

Xebec believes these measures are useful supplemental information. The following non-IFRS measures are used by Xebec in this press release:

“EBITDA” means the earnings before interest, income taxes, depreciation and amortization, where interest is defined as net finance costs as per the consolidated statement of comprehensive income.

“Adjusted EBITDA” starts with EBITDA and adjusts for Stock-based compensation expenses, impairment of inventories, exchange gain/loss on the obligation arising from non-controlling interest participation in a subsidiary, foreign exchange loss (gain), accretion of debt, impairment charge of tangible assets, remeasurement of investments, M&A transaction fees, and one-time payments arising from the prior departure of employees and legal costs.

“Adjusted EBITDA margin” being Adjusted EBITDA as a percentage of revenues.

[1] Adjusted EBITDA Margin is a non-IFRS measure. For further information on Non-IFRS measures, please refer to the “Non-IFRS Measures” section of this news release. For information on historical adjusted EBITDA, with a reconciliation to historical EBITDA and net income (loss), please see “Reconciliation of Non-IFRS Measures” in Xebec’s Management’s Discussion and Analysis (MD&A) available on SEDAR at

[2] Company Estimates

[3] International Energy Agency

[4] Hydrogen Council. (2017). Hydrogen Scaling Up.