XEBEF - XEBEF STOCK NEWS

Xebec Adsorption Inc. announces the appointment of Jim Vounassis as Chief Operating Officer and Mike Munro as Vice President Global Operations, effective May 31, 2021. Vounassis, previously COO at Bombardier Transportation, brings extensive operational experience, managing an $8 billion revenue business. Munro, ex-Canadian General Manager at GE Power Conversion, has a strong background in business restructuring and operations. Both executives aim to enhance Xebec's operational footprint in the renewable gas sector, aligning with the company's growth strategy.

Xebec Adsorption Inc. reported a 69% increase in revenues to $20.6 million for Q1 2021, up from $12.2 million in the previous year. However, the company faced a net loss of $9.2 million or ($0.06) per share, compared to a loss of $0.7 million or ($0.01) per share last year. Adjusted EBITDA was (5.8) million, down from $0.5 million. Working capital decreased to $129.4 million, with a current ratio of 3.6:1. The company maintains its fiscal 2021 revenue guidance of $110.0 to $130.0 million.

Xebec Adsorption Inc. (TSX: XBC) has successfully acquired Nortec, a Tennessee-based firm, for approximately $8.5 million CAD. This acquisition grants Xebec additional manufacturing and product development capabilities in the U.S., with a new facility of 18,500 sq. ft. in Maryville, Tennessee. Nortec generated revenue of $4.5 million CAD in FY2020. Key personnel including Nortec's founder, Mike Zarif, will remain to enhance R&D. This strategic move aims to improve Xebec’s production, foster domestic sourcing, and expand its market presence.

Xebec Adsorption Inc. (TSX: XBC) will release its 2021 first quarter financial results on May 13, 2021, before market opening at 7:00 AM EST. A webinar hosted by President and CEO Kurt Sorschak and CFO Stéphane Archambault will follow at 8:30 AM EST, discussing the results and including a Q&A session. Shareholders and stakeholders interested in the financial performance are encouraged to register for the event. The recording and supporting materials will be available on the investor section of Xebec's website after the webinar.

Xebec Adsorption Inc. has appointed Ms. Karen Nielsen to its Board of Directors, effective immediately. With extensive experience in oil and gas operations, Nielsen previously served as Chief Development Officer at Seven Generations Energy Ltd and has held senior roles in companies like ATCO Power and ARC Resources. She expressed enthusiasm for Xebec's role in the transition to clean energy and decarbonization. Chairman Kurt Sorschak highlighted her wealth of knowledge as valuable for advancing the company's cleantech initiatives.

Xebec Adsorption Inc. reported significant growth in demand for its medical on-site oxygen generators, driven by COVID-19. Its subsidiary, Inmatec, secured an order for 14 units for hospitals in Moldova, following a previous contract for 48 units in India worth €1.7 million. Inmatec's 2020 deliveries rose to 224 units from 118, tripling revenue. In 2021, 66 units have been delivered, with orders for another 67. The technology not only aids in medical settings but is also applicable in various other industries, enhancing Xebec’s position in distributed gas generation.

Xebec Adsorption Inc. (TSX: XBC) has entered a partnership with Coregas, a Wesfarmers company, to develop a hydrogen supply ecosystem in Australia and New Zealand. The collaboration, outlined in a Memorandum of Understanding (MOU), leverages Xebec's subsidiary HyGear's technology for hydrogen production and Coregas's established infrastructure. Both companies aim to create a hydrogen supply model supporting the transition to zero emissions in transportation and industry. This partnership aligns with Xebec's broader hydrogen strategy following its recent UK initiatives.

Xebec Adsorption Inc. announced it will release its Q4 and FY 2020 financial results on March 25, 2021. The company is revising its revenue guidance, expecting approximately $57 million, down from $70-$80 million. This change is largely due to extraordinary items within its Cleantech segment and the impacts of the Covid-19 pandemic. The gross margin for 2020 is projected to be between negative $1 million and positive $1 million, with Q4 expenses estimated at $15-$16 million. Xebec aims to diversify revenue streams, anticipating 20% from renewable natural gas in 2021.

Xebec Adsorption Inc. (TSX: XBC) will disclose its 2020 fourth quarter and year-end financial results on March 25, 2021, at 7:00 AM EST, prior to market opening. A webinar will follow at 8:30 AM EST, hosted by President and CEO Kurt Sorschak alongside CFO Stéphane Archambault. All stakeholders, including shareholders and analysts, are invited to participate in the discussion, which includes a Q&A session. The webinar registration and subsequent recording will be available online, along with supporting materials on Xebec's investors' section.