MONTREAL, (QC), June 9, 2021 – Xebec Adsorption Inc. (TSX: XBC) (“Xebec”), a global provider of clean energy solutions, is pleased to announce today that its wholly owned subsidiary HyGear, has signed a 10-year hydrogen recycling Gas-as-a-Service contract with one of the largest glass manufacturers in the world. The pay-per-use contract is valued at approximately $1.6 million in total revenues over the 10-year agreement and was signed after successfully validating the quality of gas over several tests at two flat-glass manufacturing facilities Germany.
“It was a great opportunity to partner with an established glass manufacturer to develop this system and demonstrate that our hydrogen recycling technology can contribute to the circular economy. This long-term contract demonstrates their confidence in our ability to create value in monetary terms and reduce the environmental impact, which is key to environmentally responsible companies,” said Marinus van Driel, President of Xebec Europe.
Leader in hydrogen and nitrogen recovery systems for glass manufacturers
On February 2, 2021, HyGear signed a similar agreement valued at approximately $1.2 million in total revenues with Obeikan Glass Company, the largest float, coated, and laminated glass manufacturer in the Middle East. Delivery of this unit is expected to occur later this year.
In addition, HyGear expects that because of these recent deployments, it can accelerate the uptake of its generation and recovery products within the glass industry. The company has identified over 400 glass manufacturing facilities worldwide that could benefit from on-site or local hydrogen generation and now, hydrogen recycling systems to further reduce costs and emissions.
Hydrogen and nitrogen gas mixtures are used in float glass production to create a protective atmosphere to prevent oxidation. These gases are injected into a tin bath where liquid glass is floated on molten tin. The most common practice of these production facilities is to vent the used mixed gases into the atmosphere.
HyGear’s gas recovery system was developed to recover used gases, clean them to a production-grade standard and feed them back into the manufacturing process. This approach reduces costs and improves the product quality due to the increased atmosphere refreshment rate. In addition, it reduces the environmental impact of the process by preventing the venting of particulate matter back into the atmosphere.
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 six manufacturing facilities, eight 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) the Corporation’s belief it can accelerate the uptake of its hydrogen generation and recovery systems in the glass industry; and (ii) the total size of the market with over 400 Corporation identified glass manufacturing facilities worldwide as noted in this press release.
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