MONTREAL, (QC), October 21, 2021 – Xebec Adsorption Inc. (TSX: XBC) (“Xebec”), a global provider of clean energy solutions, is pleased to announce today that it has received a research grant to design and manufacture a new type of electrolyser system. Under the ECO2Fuel consortium, the total approved budget of €20.1 million (CAD $28.9 million) will be shared among partners to execute the project which aims to convert captured CO2 and water with renewable electricity into sustainable liquid fuels. Xebec has been tasked with designing and building the industrial size 1 MW-class system that will also integrate technologies from other consortium partners which include De Nora, RWE Power, DLR, VITO and Ariema.
“As we continue the energy transition, new technologies and solutions will need to be developed to decarbonize energy, mobility and industry. We are ecstatic to be participating in this large EU project as the designer and manufacturer of the world’s first low temperature industrial 1 MW system that will create renewable alcohol fuels such as methanol and ethanol. Our selection ultimately showcases the unique and breadth of expertise we have in hydrogen, electrolysis and CO2 capture, and we look forward to getting this unit into production and testing it with our partners,” said Marinus van Driel, President of Xebec Europe.
Public Relations for Xebec
Victor Henriquez, Senior Partner
Xebec Adsorption Inc.
Brandon Chow, Director, Investor Relations
+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 seven manufacturing facilities, ten Cleantech Service Centers and five sales offices spanning over four continents. Xebec trades on the Toronto Stock Exchange under the symbol (TSX: XBC). For more information, xebecinc.com.
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 Management regarding the growth, results of operations, performance and business prospects and opportunities of the Corporation 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) success in designing and building the 1 MW system as noted in this press release.
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Forward-looking statements contained herein are based on a number of assumptions believed by the Corporation 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 Corporation’s current backlog, the regulatory environment, and the procurement of key material and components of products. If these assumptions prove to be inaccurate, the Corporation’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, the Company undertakes no obligation to publicly update or revise any forward-looking statements contained herein. Readers should not place undue reliance on forward looking statements.