Xebec Announces Its First Canadian Renewable Natural Gas Infrastructure Project
MONTREAL, Feb. 18, 2020 (GLOBE NEWSWIRE) — Xebec Adsorption Inc. (TSXV: XBC) (“Xebec”), a global provider of clean energy solutions announced today that Xebec and Bähler Biogas Inc. (“Bähler”) have signed an agreement to develop an integrated facility to process various organic wastes for the production of renewable natural gas (RNG) and biofertilizer.
Located in Québec, Canada, this facility will process over 45,000 metric tons of organic waste per year through an anaerobic digestion process. This process will produce biogas that is upgraded into renewable natural gas (RNG) by a turnkey biogas upgrading equipment package supplied by Xebec. The facility will contribute to the circular economy in Québec, producing over 150,000 GJ of RNG and 7,500 metric tons of biofertilizer annually. The plant is expected to be commissioned in early 2021.The project will sell its RNG under a 20-year off-take agreement at a fixed rate per gigajoule (GJ), and the biofertilizer produced will be sold and distributed to farmers through a major bio-solid management partner.The project’s capital expenditures of approximately $28.0 million will be financed through a combination of equity from its development partners, non-recourse debt and a potential grant from Québec’s PTMOBC program (Programme de Traitement des Matières Organiques par Biométhanisation et Compostage), for which an application has been filed with the Québec Government.Quotes:
“We are proud to team up with a strategic partner like Xebec to build this state-of-the-art industrial facility and lead the market for a true total life cycle solution for waste valorization.”
– Claude-Bernard Levesque, CEO, Bähler Biogaz Inc.“It is great to finally see our first BOO project move forward. It showcases how local partners can come together to create a community-based sustainable waste solution for a true circular economy. Renewable natural gas presents a unique opportunity to both divert organic waste from landfills and produce a valuable source of clean energy to displace fossil natural gas and create a biofertilizer for farmers. Xebec plans to be a valuable technology provider and financial partner in the waste-to-RNG space in Canada.”
– Kurt Sorschak, President and CEO, Xebec Adsorption Inc.Related links:
https://www.xebecinc.comFor more information:
Xebec Adsorption Inc.
Brandon Chow, Investor Relations Manager
+1 450.979.8700 ext 5762About Bähler Biogas Inc.
Bähler Biogas Inc. is a privately-owned Québec-based company which has relevant experience in turnkey project development, including expertise in specialized organic waste processes and building required infrastructure for digesters. Bähler has constructed over 20 cold-weather anaerobic digesters in Canada. For more information on the company, visit Bähler Biogas at biogas.bahler.ca.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.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. 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, Xebec’s capacity to generate revenue growth, limited number of customers, 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.