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Xebec Adsorption Inc. has signed a Memorandum of Understanding (MOU) with SCS Carbon Removal LLC for a potential order exceeding USD$100 million for 51 CO2 compression packages. This equipment is intended for Summit Carbon Solutions’ ambitious carbon capture project, which could become the world’s largest if approved, with a USD4.5 billion investment. While the MOU indicates strong interest, it does not guarantee a binding contract. Xebec emphasizes their commitment to decarbonization and growing demand for their sustainable gas technologies.
Xebec Adsorption Inc. has accelerated the transition of Jim Vounassis to President and CEO, effective immediately, ahead of the planned date of May 12, 2022. Vounassis has also joined the Board of Directors. Current CEO Kurt Sorschak is retiring from executive management but will remain as Chairman of the Board until May 11, 2022. The company specializes in sustainable gas technologies and aims to support clients in reducing their carbon footprint through innovative gas production solutions.
Xebec Adsorption Inc. (TSX: XBC) reported its Q4 and full-year 2021 results, achieving substantial growth in revenue to $45.9 million in Q4, up from $6.4 million year-over-year. The company posted a net income of $2.4 million or $0.02 per share, compared to a loss of $28.3 million. Full-year revenues surged to $125.9 million, a 123% increase, with a gross margin of $29.5 million (23%). Xebec's backlog reached $123.8 million, reflecting strong demand. However, working capital decreased, and the company has ceased providing annual revenue guidance due to geopolitical uncertainties.
Xebec Adsorption Inc. (TSX: XBC) will release its 2021 fourth quarter and year-end financial results on March 17, 2022, at 7:00 AM EST, prior to market opening. A webinar will follow at 8:30 AM EST featuring management including President and CEO Kurt Sorschak. Stakeholders are encouraged to attend to discuss the results and participate in a Q&A session. The webinar can be registered for via the provided link, and a recording will be accessible afterward. Xebec specializes in sustainable gas technologies aimed at reducing carbon footprints.
Xebec Adsorption Inc. (TSX: XBC) announced the resignation of
Xebec Adsorption Inc. will host its first investor day on March 29, 2022, at 11:00 AM MST in Denver, Colorado. This event will showcase its innovative clean technologies and long-term strategic plan aimed at enhancing growth opportunities. Xebec will feature presentations from management focusing on hydrogen, renewable natural gas, and carbon capture technologies.
Analysts and investors are encouraged to attend, aiming to provide insights into the company's commitment to reducing gas costs and carbon emissions.
Xebec Adsorption Inc. reports Q3 2021 revenues of $26.7 million, up 45% from $18.4 million YoY. Gross margin improved to $10.1 million (38%) from $4.4 million (24%). However, net loss increased to $9.2 million or ($0.06) per share, compared to $2.2 million or ($0.02) per share in Q3 2020. The company updates its revenue guidance to $120-$130 million for 2021. Xebec continues to face supply chain risks as it transitions to standardized products, while pursuing growth through recent acquisitions.
Xebec Adsorption has completed the acquisition of UECompression to significantly increase its North American production capacity for renewable gas systems. The deal will expand Xebec's capacity by five-fold, producing 150 to 190 containerized BGX Biostream™ and Hy.GEN® hydrogen units annually. With an expected revenue of approximately USD $35 million for UEC in 2021, the total acquisition cost is about USD $8 million. This strategic move helps Xebec tap into the growing renewable gas market, particularly in U.S. agricultural sectors.
Xebec Adsorption Inc. will release its third quarter 2021 financial results on November 11, 2021, at 7:00 AM EST, prior to market opening. A webinar, hosted by CEO Kurt Sorschak, CFO Stéphane Archambault, and COO Jim Vounassis, will follow at 8:30 AM EST. This event is aimed at engaging shareholders and stakeholders with a Q&A session post-discussion. Interested participants can register and access the replay through the provided links. Xebec operates globally, providing clean energy solutions, specializing in renewable gases like hydrogen and natural gas.
Xebec Adsorption Inc. (TSX: XBC) has announced a research grant to develop a groundbreaking low-temperature electrochemical CO2 conversion system as part of the ECO2Fuel consortium. The project, with a total budget of €20.1 million (CAD $28.9 million), aims to convert captured CO2 and water into sustainable liquid fuels using renewable electricity. Xebec will design and build a 1 MW-class system, integrating technologies from various partners. This initiative highlights Xebec's expertise in hydrogen and CO2 capture, positioning the company for significant advancements in the clean energy sector.
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