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:https://www.xebecinc.comhttps://www.fuelcellenergy.com/
Media Inquiries:Public Relations for
XebecVictor Henriquez, Senior
Partnervictor@publicsc.com+1 514.377.1102
Investor Relations:Xebec
Adsorption Inc.Brandon Chow, Director, Investor
Relationsbchow@xebecinc.com+1 450.979.8700 ext 5762
About FuelCell EnergyFuelCell 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.
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