Xebec Announces PSA Supply Agreement with Haffner Energy for Cost-Effective Green Hydrogen Production

Rhea-AI Summary

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.

Positive

• Partnership with Haffner Energy establishes Xebec as a leader in hydrogen technology.
• Multi-million Euro order for eight PSA units indicates strong demand.
• Collaboration aims to produce green hydrogen at lower costs and emissions.

Negative

• None.

- Partnership further cements Xebec’s hydrogen leadership in providing technology for industrial and fuel cell applications -

MONTREAL--(BUSINESS WIRE)-- Xebec Adsorption Inc. (TSX: XBC) (“Xebec”), a global provider of sustainable gas technologies, is pleased to announce today that it has signed an agreement to supply its proprietary Pressure Swing Adsorption (“PSA”) technology to support the deployment of Haffner Energy’s (PA: ALHAF) HYNOCA® solution. HYNOCA® is a unique and cost-effective technology for decarbonizing and producing green carbon negative hydrogen and renewable gases by thermolysis of biomass. Pursuant to this agreement, an initial multi-million Euro purchase order for 8 standardized PSA units was signed for delivery in 2023. This contract showcases Xebec’s continued global hydrogen leadership and represents one of the largest contracts in absolute dollar value Xebec has received to date for hydrogen PSAs.

This agreement establishes a mutually beneficial partnership between Haffner Energy and Xebec which is aimed at accelerating the efficient production of green hydrogen while creating local economic benefits and contributing to the circular economy.

“We are delighted with this new collaboration with Xebec, as PSA is the most important technology to guarantee the purity of hydrogen. The quality of its technology combined with its references led us to choose Xebec. This is a decisive step for HYNOCA®. It affirms its position as an immediate and competitive solution to produce super green hydrogen,” said Philippe Haffner, CEO and Chairman of Haffner Energy.

“We are excited to be working with a leader like Haffner Energy as we collectively progress towards a lower carbon future utilizing cleaner hydrogen,” stated Mike Munro, Chief Operating Officer of Xebec Adsorption Inc. “Haffner has developed a unique process that is enhanced by our PSA technology to produce green hydrogen at a lower cost and emission profile than other methods. We need a variety of solutions as we tackle the broader energy transition and it’s great to see Xebec’s products utilized in these emerging applications.”

Related links:

https://www.xebecinc.com
https://www.haffner-energy.com/?lang=en

About Haffner Energy

A family-owned company co-founded and co-led by Marc and Philippe Haffner, player in the energy transition for 28 years, Haffner Energy designs and provides technologies and services that enable its customers to produce green hydrogen and renewable gas replacing natural gas, combined with carbon capture through the co‑production of biochar via its Hynoca® process based on thermolysis of biomass. This process allows the production of hydrogen or renewable gas at highly competitive costs, with negative carbon balance of 12 kg (net) of CO2 per kg of hydrogen, while depending very little on the electricity grid and the cost of electricity. This allows Haffner Energy to make a very rapid and agile contribution to the strategic challenges of Europe's energy independence combined with the acceleration of its decarbonization.

About Xebec Adsorption Inc.

Xebec is a global provider of clean energy solutions for renewable and low carbon gases used in energy, mobility and industrial applications. The company specializes in deploying a portfolio of proprietary technologies for the distributed production of hydrogen, renewable natural gas, carbon capture, oxygen and nitrogen which is supported by a service network under the brand “XBC Flow Services”. 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 nine manufacturing facilities, seventeen Cleantech Service Centers and four sales offices spanning over four continents. Xebec trades on the Toronto Stock Exchange under the symbol (TSX: XBC). For more information, xebecinc.com.

Cautionary Statement

This press release contains forward-looking statements within the meaning of applicable Canadian securities law. These statements relate to future events or future performance and reflect the expectation of Management regarding the growth, results of operations, performance and business prospects and opportunities of the Corporation or its industry. Forward-looking statements typically contain words such as “believes”, “expects”, “anticipates”, “continues”, “could”, “indicates”, “plans”, “will”, “intends”, “may”, “projects”, “schedules”, “would” or similar expressions suggesting future outcomes or events, although not all forward-looking statements contain these identifying words. Examples of such statements include, but are not limited to, statements concerning: (i) targeted cost and emission reductions of green hydrogen as noted in this press release.

These statements are neither promises nor guarantees but involve known and unknown risks and uncertainties that may cause the Company’s actual results, level of activity or performance to be materially different from any future results, levels of activity or performance expressed in or implied by these forward-looking statements. These risks include, generally, risks related to the ability of the Corporation to execute its strategy, operating results, purchasing third party supplies for key materials and components in a timely and cost effective basis, industry and products, technology, competition, ability to attract and retain qualified personnel, ability to manage successfully the anticipated expansion of our operations, the economy, the sufficiency of insurance and other factors which are discussed in greater details in the most recent quarterly management discussion and analysis (“MD&A”) and in the Annual Information Form of the Corporation filed on SEDAR at www.sedar.com.

Forward-looking statements contained herein are based on a number of assumptions believed by the Corporation to be reasonable as at the date of this press release, including, without limitations, assumptions about trends in certain market segments, the economic climate generally, the pace and outcome of technological development, the identity and expected actions of competitors and customers, the value of the Canadian dollar and of foreign currency fluctuations, interest rates, the anticipated margins under new contracts awards, the state of the Corporation’s current backlog, the regulatory environment, and the procurement of key material and components of products. If these assumptions prove to be inaccurate, the Corporation’s actual results may differ materially from those expressed or implied in the forward-looking statements. The forward-looking statements contained herein are made as of the date of this press release and are expressly qualified in their entirety by this cautionary statement. Except to the extent required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statements contained herein. Readers should not place undue reliance on forward looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220622005967/en/

Investor Relations:

Haffner Energy

Adeline Mickeler, CFO

adeline.mickeler@haffner-energy.com

Xebec Adsorption Inc.

Brandon Chow, Director, Investor Relations

bchow@xebecinc.com

+1 450.979.8700 ext 5762

Source: Xebec Adsorption Inc.

FAQ

What is the significance of the partnership between Xebec Adsorption Inc. and Haffner Energy?

The partnership highlights Xebec's leadership in hydrogen technology, specifically through the supply of PSA technology to support Haffner's HYNOCA® solution for producing green hydrogen.

What financial impact does the multi-million Euro order have on Xebec Adsorption Inc.?

The multi-million Euro order for eight PSA units is one of the largest contracts Xebec has received for hydrogen PSAs, indicating a significant positive impact on the company's revenue.

When are the PSA units from Xebec expected to be delivered?

The PSA units are expected for delivery in 2023.

How does Xebec's technology contribute to green hydrogen production?

Xebec's PSA technology enhances the purity and efficiency of green hydrogen production, supporting the broader goal of a carbon-neutral future.

What is Xebec's stock symbol?

Xebec Adsorption Inc. trades on the Toronto Stock Exchange under the symbol TSX: XBC.