XEBEF - XEBEF STOCK NEWS

Xebec Adsorption Inc. has secured a contract to provide two Hy.GEN® 150 units to a major steel manufacturer in Turkey, marking the company’s first steel treatment contract. These units will produce approximately 600 kg of hydrogen per day at 99.999% purity, aimed at enhancing the annealing heat-treatment process. This installation exemplifies Xebec's expanding role in decentralized hydrogen generation across various industries, including glass and food, as it aligns with its strategy to meet rising hydrogen demands, particularly from fuel cell electric vehicles (FCEVs).

Xebec Adsorption Inc. reported record revenues of $32.7 million for Q2 2021, up 67% from $19.6 million last year. However, the company experienced an adjusted EBITDA loss of $4.6 million and a net loss of $7.5 million, compared to a $0.8 million loss in the previous year. Working capital decreased to $97.4 million, with a current ratio of 2.9:1. The full-year revenue guidance remains at $110.0 to $130.0 million, while adjusted EBITDA margin expectations were lowered to -3.0% to -4.0%. A significant contract for biogas upgrading is expected to enhance future growth.

Xebec Adsorption Inc. (TSX: XBC) has appointed Mr. Brian Levitt to its Board of Directors, effective August 11, 2021. Previously an advisor, Levitt brings valuable strategic, commercial, and corporate finance insights. With a strong background, including serving as Board Chair of The Toronto-Dominion Bank and experience in law and engineering, Levitt is expected to enhance Xebec's operational synergy and support its mission to reduce carbon footprints through renewable energy solutions.

Xebec Adsorption Inc. will announce its 2021 Q2 financial results on August 12, 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 EDT. The session will include a discussion of the results and a Q&A. Interested parties can register for the webinar and access a recording via the company’s investor relations website. Xebec specializes in clean energy solutions, including hydrogen and renewable natural gas, aimed at reducing carbon footprints globally.

Xebec Adsorption Inc. announced a Master Service Agreement (MSA) with a leading U.S. renewable natural gas developer for the purchase of Biostream units, marking the largest unit order for biogas upgrading in North America. The initial order includes 18 units, with production ramping up to 30-40 units annually at Xebec's Canadian facility. The Biostream system is designed for quick installation and low operating costs, targeting the 8,574 U.S. farms ready for biogas production. The company aims to capitalize on the growing RNG market, particularly in dairy farming.

Xebec Adsorption Inc. held its Annual and Special Meeting of Shareholders on June 29, 2021, where all eight nominees were elected as directors. Voting results showed strong shareholder support, with majorities exceeding 85% for all nominees. Notably, William Beckett received 90.735% approval. Furthermore, a non-binding advisory vote on executive compensation also garnered favorable votes, with 91.459% in support. The formal report on voting outcomes will be submitted to regulatory authorities soon, highlighting robust shareholder engagement and confidence in the board's composition.

Xebec Adsorption Inc. has successfully launched an on-site hydrogen generation system via its subsidiary HyGear for Turkey's inaugural used lubricant oil re-refinery, operated by TAYRAŞ. The system will produce approximately 560 kg of hydrogen daily, totaling 205 tons annually, under a 15-year Gas-as-a-Service contract. This facility aims to bolster Turkey’s circular economy by enhancing the re-refining of used oils, utilizing hydrogen to hydro-treat oil and reduce pollutants. The plant has a capacity of 60,000 tons of used lubricant oil per year, expecting to yield around 45,000 tons of base oils.

Xebec Adsorption (TSX: XBC) has acquired UK-based Tiger Filtration for £12 million ($20.6 million CAD), enhancing its aftermarket business for filtration products. TFL reported revenues of £2.7 million ($4.6 million CAD) with a notable EBITDA margin of 42% for FY2020. This acquisition is expected to create immediate cost savings and increase revenue through existing sales networks. The move aligns with Xebec's strategy to transition into a service-oriented business focused on renewable and low carbon gases.

Xebec Adsorption Inc. has announced a significant 10-year hydrogen recycling contract, valued at approximately $1.6 million, with a leading glass manufacturer. This deal follows extensive gas quality testing at two flat-glass facilities in Germany. The partnership highlights Xebec's commitment to the circular economy and showcases its hydrogen recycling technology. Previously, a similar agreement worth $1.2 million was signed with Obeikan Glass Company. Xebec aims to tap into over 400 potential glass manufacturing facilities globally, promoting cost reduction and environmental sustainability.