Xebec Announces Hydrogen Order for FuelCell Energy’s Port of Long Beach Project
MONTREAL, Feb. 11, 2021 (GLOBE NEWSWIRE) — Xebec Adsorption Inc. (TSX: XBC) (“Xebec”), a global provider of clean energy solutions for renewable and low carbon gases, is pleased to announce that it has received a hydrogen purification system order from FuelCell Energy, Inc. (NASDAQ: FCEL). FuelCell Energy is an innovator and manufacturer of fuel cell clean power platforms, delivering hydrogen, long-duration hydrogen energy storage, carbon capture, carbon separation and utilization, power, and thermal energy.
The order is for a Pressure Swing Adsorption (PSA) based system that will purify hydrogen produced by FuelCell Energy’s SureSourceTM Hydrogen platform to meet required standards for fueling zero-emission fuel cell vehicles for Toyota’s operations at the Port of Long Beach in California. Green hydrogen will be produced from renewable natural gas (RNG) fed into FuelCell Energy’s trigeneration process, helping the port’s mission to lower carbon emissions and improve air quality in the community.“FuelCell Energy is excited to work with Xebec to deliver high-purity hydrogen. FuelCell Energy is working under contract to Toyota at the Port of Long Beach to deliver the hydrogen necessary to promote the further adoption of fuel cell electric vehicles, deliver green hydrogen, and provide reclaimed water produced by our platform to facilitate car-washing operations. We believe that this installation will be the only installation in world simultaneously delivering carbon neutral power, green hydrogen, and water from a single platform,” stated Jason Few, President and Chief Executive Officer of FuelCell Energy, Inc.“We are excited to be collaborating with Fuel Cell Energy on this project. This installation at the Port of Long Beach is an excellent application of distributed hydrogen generation for fuel cell electric vehicles using renewable natural gas to provide renewable hydrogen,” stated Kurt Sorschak, Chairman, CEO and President of Xebec Adsorption Inc. “Hydrogen is becoming increasingly important as corporations and governments around the world strive for net-zero and zero-emission vehicles. In addition to our RNG business, we expect Xebec will play a more significant role as a hydrogen technology provider in helping customers displace higher carbon fuels and high-emission diesel trucks with FCEVs in the coming years.”Delivery of the system is expected to occur in Q3 of this year.Related links:
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+1 450.979.8700 ext 5762About FuelCell Energy
FuelCell Energy, Inc. (NASDAQ: FCEL) is a global leader in sustainable clean energy technologies that address some of the world’s most critical challenges around energy, safety and global urbanization. As a leading global manufacturer of proprietary fuel cell technology platforms, FuelCell Energy is uniquely positioned to serve customers worldwide with sustainable products and solutions for businesses, utilities, governments and municipalities. Our solutions are designed to enable a world empowered by clean energy, enhancing the quality of life for people around the globe. We target large-scale power users with our megawatt-class installations globally, and currently offer sub-megawatt solutions for smaller power consumers in Europe. To provide a frame of reference, one megawatt is adequate to continually power approximately 1,000 average sized U.S. homes. We develop turn-key distributed power generation solutions and operate and provide comprehensive service for the life of the power plant. Our fuel cell solution is a clean, efficient alternative to traditional combustion-based power generation, and is complementary to an energy mix consisting of intermittent sources of energy, such as solar and wind turbines. Our customer base includes utility companies, municipalities, universities, hospitals, government entities/military bases and a variety of industrial and commercial enterprises. Our leading geographic markets are currently the United States and South Korea, and we are pursuing opportunities in other countries around the world. FuelCell Energy, based in Connecticut, was founded in 1969.About Xebec Adsorption Inc.
Xebec is a global provider of clean energy solutions for renewable and low carbon gases used in energy, mobility and industry 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 four manufacturing facilities, seven Cleantech Service Centers and three sales offices spanning over four continents. Xebec trades on the Toronto Stock Exchange under the symbol XBC. For more information, xebecinc.com.Cautionary Statement
Neither Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements, and subject to risks and uncertainties. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “seeks”, “expects”, “estimates”, “intends”, “anticipates”, “believes”, “could”, “might”, “likely” or variations of such words, or statements that certain actions, events or results “may”, “will”, “could”, “would”, “might”, “will be taken”, “occur”, “be achieved” or other similar expressions. Forward-looking statements, including statements concerning future capital expenditures, revenues, expenses, earnings, economic performance, indebtedness, financial condition, losses and future prospects as well as the expectations of management of Xebec with respect to information regarding the business and the expansion and growth of Xebec operations, involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are subject to business and economic factors and uncertainties, and other factors that could cause actual results to differ materially from these forward-looking statements, including the relevant assumptions and risks factors set out in Xebec’s public documents, including in the most recent annual management discussion and analysis and annual information form, filed on SEDAR at www.sedar.com. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors include, among others, the uncertain and unpredictable condition of global economy, notably as a consequence of the Covid-19 pandemic, Xebec’s capacity to generate revenue growth, the availability to Xebec of financing and credit alternatives and access to capital, Xebec’s capacity to meet all its other commitments and business plans, Xebec’s limited number of customers, the potential loss of key employees, changes in the use of proceeds relating to the loan, share price volatility, and other factors. Although Xebec believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, Xebec disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.