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Xebec Receives new Purification orders Worth CDN 2.4 Million
MONTREAL, (QC) / TheNewswire / March 29, 2017 - Xebec Adsorption Inc. (TSXV: XBC) (“Xebec”), a global provider of gas generation, purification and filtration solutions announced today that it has received orders for CDN 2.4 million for four gas purification systems. Orders originate from China, Denmark and the USA, all to be delivered in 2017.
The first project will upgrade biogas from agricultural waste to renewable natural gas in Jiangsu Province in China. Xebec’s Chinese subsidiary will deliver the complete gas upgrading system and provide operations support for the first three years. This project was awarded after a competitive bidding process. Key for the customer to choose Xebec was the proven track record of Xebec’s pressure swing adsorption (PSA) system, which combines outstanding performance characteristics with high recovery, durability, electricity savings, and flexible operations. This project will go into operation in Q4/17.
The second purification system sold in China involves Argon (Ar) purification at an electronic component production facility, where Xebec will provide a recuperation and purification solution that will allow the client to re-use the Argon in their production process, and consequently reduce the operating cost. The system will be operational in Q3/17.
Furthermore, Xebec sold a Carbon Monoxide (CO) purification unit to a leading European technology company. This special fast cycle pressure swing adsorption system (PSA) will be a part of a CO production unit that will purify carbon monoxide. The off-gas of the PSA will be utilized in a process involving a solid oxide fuel cell. Delivery of the system is scheduled for Q4/17.
The last project involves gas purification in the U.S., where Xebec will provide the necessary equipment to deliver the product gas quality in line with the client’s gas specifications. Revenue for this project will be recorded in 2017.
“Xebec continues to successfully convert quotes into orders, resulting in increased sales for its gas purification systems. We are pleased to see that the momentum in our business is continuing, and that our products and solutions are gaining traction. Some of the orders mentioned in this press release are in very promising niche markets, like argon and carbon monoxide purification, which could potentially lead to significant future order flow,” said Kurt Sorschak, President and CEO of Xebec Adsorption Inc.
For more information:
Xebec Adsorption Inc.
Sandi Murphy
Marketing & Communication Manager
+1 (450) 979 8718
President and Chief Executive Officer
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 for 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.
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.