MONTREAL, (QC), June 3rd, 2020 – Xebec Adsorption Inc. (TSXV: XBC) (“Xebec”), a global provider of clean energy solutions is pleased to announce that it has signed a letter of intent (“LOI”) on May 28th, 2020, for the sale of a multi-million dollar biogas to renewable natural gas (RNG) installation to a large-scale utility customer in Alberta.
Xebec expects the LOI to convert into backlog over the coming months and system delivery to occur in 2021.
An opportunity to further Canada’s oil and gas industry and help the country decarbonize its energy mix
Canada is the world’s fourth largest natural gas producer. Renewable natural gas (RNG) production represents an opportunity to reduce carbon emissions of natural gas by creating renewable gas from organic waste sources, that can be blended with fossil natural gas to reduce the overall carbon intensity.
There are several benefits to RNG which include: reduction in greenhouse gas emissions, increased domestic energy production, compatibility with existing natural gas infrastructure, improved waste management, new revenue streams for farmers and municipalities, advancement of the circular economy and job creation.
“We’re happy to see the continued sales of our Cleantech systems as customers remain forward-looking in this pandemic and see the long-term need to create renewable energy from organic waste streams.
Alberta is a significant contributor to the economic well-being of Canadians and we’re happy to see the adoption of renewable natural gas production. This is the first commercial RNG project in Alberta which marks a significant milestone as the province continues to innovate and deploy technologies to help reduce carbon emissions. We’re hopeful for the continued production of renewable gases in Canadian Western provinces as decarbonization and infrastructure investments remain in focus. Renewable natural gas is the perfect bridge between fossil and renewable energy, and Xebec is proud to be playing a role in that transition across Canada.”
– Dr. Prabhu Rao, Chief Operating Officer, Xebec Adsorption Inc.
For more information:
Xebec Adsorption Inc.
Brandon Chow, Investor Relations Manager
+1 450.979.8700 ext 5762
About Xebec Adsorption Inc.
Xebec is a global provider of gas generation, purification and filtration solutions for the industrial, energy and renewables marketplace. Well-positioned in the energy transition space with proprietary technologies that transform raw gases into clean sources of renewable energy, Xebec’s 1500+ customers range from small to multi-national corporations, governments and municipalities looking to reduce their carbon footprints. Headquartered in Montréal, Quebec, Canada, Xebec has several Sales and Support offices in North America and Europe, as well as two manufacturing facilities in Montréal and Shanghai. Xebec trades on the TSX Venture Exchange under the symbol XBC. For more information, www.xebecinc.com.
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