XEBEF - XEBEF STOCK NEWS

Xebec Adsorption Inc. has announced an application for an initial order under the Companies’ Creditors Arrangement Act (CCAA) to facilitate a restructuring process. The court order aims to stay creditor claims and enable a sale or investment solicitation for its assets. Trading of Xebec's common shares on the Toronto Stock Exchange (TSX) is expected to be halted pending a review of its listing suitability. The board believes creditor protection is in the best interest of stakeholders. Legal and financial advisors have been appointed for these proceedings.

Xebec Adsorption Inc. reported Q2 2022 results with revenues of $44.5 million, up from $32.7 million in Q2 2021. However, the net loss widened to $23.4 million ($0.15 per share) compared to a net gain of $10.2 million the prior year. Gross margin fell to 4% from 15% due to charges from legacy RNG contracts. Backlog increased significantly to $270.2 million. The company is reducing costs, including a 13% headcount cut in North America. CEO expresses optimism amid ongoing supply chain challenges and legislative support for clean energy.

Xebec Adsorption Inc. (TSX: XBC) will release its Q2 2022 financial results on August 11, 2022, before markets open at 7:00 AM EDT. Following the announcement, a webinar hosted by President & CEO Jim Vounassis, CFO Stéphane Archambault, and COO Mike Munro will take place at 8:30 AM EDT. Stakeholders can register for the webinar at Xebec's official website and access a replay and supporting materials thereafter.

As a leader in sustainable gas technologies, Xebec focuses on clean energy solutions to mitigate carbon footprints worldwide.

Xebec Adsorption Inc. (TSX: XBC) has announced a significant workforce reduction of 51 employees, representing approximately 13% of its North American workforce, in an effort to enhance operational efficiency and product focus.

Despite recent advancements in product optimization and sales, the company recognizes this action as unfortunate yet necessary for improving cost synergies across its operations. Xebec's manufacturing facilities will now specialize more effectively, with the Blainville, QC site focusing on Pressure Swing Adsorption units, and the Denver, CO site handling containerized systems.

Xebec Adsorption Inc. (TSX: XBC) has partnered with Haffner Energy to supply its proprietary Pressure Swing Adsorption (PSA) technology for Haffner's HYNOCA® solution, designed to produce green hydrogen and renewable gases. An initial multi-million Euro purchase order for eight PSA units is expected for delivery in 2023. This agreement reflects Xebec's leadership in the hydrogen sector and is one of the largest contracts the company has secured for hydrogen PSA technology. Both companies aim to enhance local economic benefits and contribute to a circular economy.

Xebec Adsorption Inc. reported its Q1 2022 results with revenues of $41.2 million, significantly up from $20.6 million in Q1 2021. However, the gross margin fell to 11% from 20%, reflecting increased costs and lower margins in several contracts. The company's net loss widened to $18.4 million or $0.12 per share, compared to $10.1 million or $0.07 per share last year. Despite challenges, Xebec's backlog surged to $260.5 million, indicating strong future revenue potential. The company aims for a 8%-10% adjusted EBITDA margin by 2024.

Xebec Adsorption Inc. (TSX: XBC) will announce its 2022 Q1 financial results on May 12, 2022, at 7:00 AM EDT. A corresponding webinar will follow at 8:30 AM EDT, hosted by CEO Jim Vounassis along with CFO Stéphane Archambault and COO Mike Munro. This event aims to engage shareholders, analysts, and investors, providing insights into the company’s performance. The webinar is open for registration and will be replayed for future viewers. Xebec specializes in clean energy solutions, focusing on renewable gases.

Xebec Adsorption Inc. has secured a significant contract valued at USD113.5 million with SCS Carbon Removal LLC, a subsidiary of Summit Carbon Solutions. The contract involves the provision of 51 carbon dioxide (CO₂) reciprocating compression packages for what aims to be the world’s largest carbon capture and sequestration project. This deal follows a memorandum of understanding previously signed in March 2022, showcasing Xebec's expanding role in sustainable gas technologies.

Xebec Adsorption Inc. (TSX: XBC) has announced a three-year strategic plan aimed at becoming a leader in sustainable gas technologies. The plan, outlined at their first investor day in Denver, targets revenues of CAD$300-350 million and an adjusted EBITDA margin of 8-10% for FY2024. Key initiatives include expanding their renewable natural gas manufacturing in the U.S., establishing decentralized hydrogen hubs, and enhancing carbon capture technologies. This strategic approach is supported by sizable market opportunities totaling approximately USD$42 billion in renewable natural gas and USD$2.5 trillion in hydrogen.