Xebec Completes Acquisition of Inmatec
MONTREAL, Feb. 22, 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 today the closing of the previously announced acquisition of Inmatec Gase Technologie GmbH & Co. KG, Inmatec GmbH and Inmatec Gas Technology FZC RAK (collectively, “Inmatec”).Inmatec is a leading manufacturer of on-site nitrogen and oxygen generators. With innovative stationary and mobile plants, the company is setting new standards in the on-site production of nitrogen and oxygen. Inmatec’s N2 and O2 product lines with PSA or membrane-based technologies offers solutions to meet the needs of customers of all sizes. In addition, the company provides customer-specific solutions for a range of N2 and O2 applications as part of its special plant construction.Inmatec positions Xebec to execute and accelerate its distributed renewable and low carbon gas strategy. The acquisition of new oxygen and nitrogen generation technologies, and the access to new markets and service capabilities, will enable Xebec to bring cost-effective gas supply to customers around the world. Specifically, the acquisition is expected to, among other things:position Xebec as a worldwide leader in on-site nitrogen and oxygen generation productscreate new growth opportunities by bringing products to North Americaexpand the Cleantech Service Network in Europe and gain entry into the German hydrogen and renewable natural gas marketsaccess to an established network of over 40 worldwide distribution partnersexposure to the fast-growing medical oxygen market“Inmatec marks an important milestone for Xebec in expanding its technologies and presence throughout Europe and the Middle East,” said Kurt Sorschak, CEO and President of Xebec Adsorption Inc. “Inmatec has a unique portfolio of products that complements our other gas generation products in hydrogen and renewable natural gas. Their large customer base offers opportunities in cross-selling other products within our company portfolio. Inmatec also ensures that we have the relevant products and continue to build a robust reference base for distributed gas generation. Ultimately, their strong presence in Europe, Middle East, and Africa will help us scale our existing sales and service efforts in these regions.”Advisors
Desjardins Capital Markets and TD Securities Inc. acted as financial advisors on the Acquisition.Related links:
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+1 450.979.8700 ext 5762About 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 five manufacturing facilities, eight Cleantech Service Centers and four sales offices spanning over four continents. Xebec trades on the Toronto Stock Exchange under the symbol (TSX: 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.