Xebec Shanghai Receives CDN$ 3.4 Million In Hydrogen Purification Orders
MONTREAL, (QC), May 29th, 2018 - Xebec Adsorption Inc. (TSXV: XBC) (“Xebec”), a global provider of gas purification solutions for the industrial, energy and renewables marketplace, announced today that its subsidiary in China has received four orders for its hydrogen fast cycle pressure swing adsorption (PSA) gas purification systems totaling CDN$ 3.4 million. Deliveries are scheduled to occur within the next six months.
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Progress is underway in some of the world’s biggest markets
According to the Hydrogen Council, the deployment of transport solutions has begun around the world with Japan, South Korea, California and Germany leading the way. Japan has set itself a target of having 40,000 Fuel Cell Electric Vehicles (FCEVs) on the road by 2020; China plans 1 million FCEVs by 2030 and is already investing in infrastructure. The Hydrogen Council believes the global quantity of required hydrogen will increase 10-fold over the next 30 years. This creates a great opportunity for Xebec and its hydrogen related technologies.
“Xebec Shanghai has developed concrete plans to expand its presence in the hydrogen purification segment, especially as it relates to renewable hydrogen as a fuel for fuel cell vehicles. With our recent partnership announcements (see related links below) with JNK Heaters in Korea and Furui Hydrogen in China, we are very happy with the order progress to date. With China gearing up to become the largest player in the hydrogen transport market as early as next year, we look forward to playing an increasing role in the movement from a fossil fuel economy to a low carbon renewable energy future.” - Kurt Sorschak, President and CEO of Xebec Adsorption Inc.
“Xebec utilizes an innovative, proprietary fast cycle adsorption technology for its gas purification systems that is generating an increasing amount of customer interest, mainly due to lower initial investment costs, low operating and maintenance costs, combined with high durability and reliability.”
- Dr. Peter Cheng, General Manager, Xebec Shanghai
Currently, Xebec has over 220 advanced Xebec purification systems in operation worldwide. Given the increased demand for hydrogen systems globally, Xebec expects to significantly increase the number of its operating units by 2020.
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Sandi Murphy, Director, Investor Relations and Communications
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Kurt Sorschak, 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, and has 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.
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