Xebec Launches Hydrogen Supply Strategy in the United Kingdom

– Signed Gas-as-a-Service contract with Saint-Gobain and started construction of a Decentralized Hydrogen Production Hub –MONTREAL, Feb. 16, 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 its wholly owned subsidiary HyGear, has signed a Gas-as-a-Service (“GaaS”) contract with Saint-Gobain Glass (EPA: SGO) for a 15-year term. Saint-Gobain Glass is one of the world’s largest float glass manufacturers and will be supplied with hydrogen for their production facility in Eggborough, United Kingdom.Last month, HyGear also delivered an on-site hydrogen generation system to KIWA Group in Birmingham for fuel cell components testing. These recent orders and deliveries support the launch of the company’s hydrogen supply strategy in the United Kingdom, which is marked by the start of construction of a Decentralized Hydrogen Production Hub. Located in West Bromwich, the company’s second hub is expected to initially reach a capacity of 300 kg of hydrogen per day and can be gradually expanded based on market demands. The site will be operated in collaboration with Buse Gases Ltd as a joint venture.“The cornerstone of our hydrogen supply strategy is to satisfy the existing and evolving needs for industrial hydrogen, while also facilitating the upcoming demand for fuel cell electric vehicles (FCEVs). We are excited to be announcing the construction of our first Decentralized Hydrogen Production Hub in the UK because these hubs will initially serve our industrial customers such as Saint-Gobain, and gradually start supplying hydrogen vehicle filling stations. This layered approach will allow us to support the roll-out of refueling stations in an economically viable way as the broader hydrogen economy forms in the next decades,” stated Marinus van Driel, President of Xebec Europe.Through the acquisition of HyGear last December, Xebec gained access to highly efficient on-site hydrogen generation through steam methane reforming (SMR) and electrolysis. On-site generation reduces the need for central production, compression or liquefaction and road transportation, and therewith offers a more cost-effective and environmentally friendly option for hydrogen supply.The company is developing regional strategies worldwide in which on-site Gas-as-a-Service equipment produces the base-load supply and peak demand is supported by Decentralized Production Hubs near end users. As a result of this combined production strategy, it is expected that customers will have access to the most cost-effective and lowest emission hydrogen available today.With the announcement by the UK government to achieve net-zero carbon emissions by 2050, hydrogen adoption is being seen as one of the key pathways towards achieving this goal. The hydrogen supply launch in the United Kingdom is expected to provide a foundational blueprint for Xebec’s accelerated expansion plans of setting up decentralized production hubs globally, and its core strategy to build hydrogen energy infrastructure by first targeting demand in industry.Related links:
https://www.xebecinc.com
https://hygear.com/
Media Inquiries:
Public Relations for Xebec
Victor Henriquez, Senior Partner
[email protected]
+1 514.377.1102
Investor Relations:
Xebec Adsorption Inc.
Brandon Chow, Director, Investor Relations
[email protected]
+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 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 four three 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.


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