November 3, 2021, 15:35 US Eastern Time | Source: Rebco Adsorption Rebco Adsorption
Montreal, November 3, 2021 (Global News Agency) - Xebec Adsorption Inc. (TSX: XBC) ("Xebec"), a global clean energy solution provider, is pleased to announce today that it has completed the registration All outstanding shares of UE Compression ("UEC") located in Colorado. Founded in 1983, UEC is the premier designer and manufacturer of customized air and gas compressor solutions for power generation, industrial and energy applications.
The acquisition of UEC provides a cost-effective and timely way to expand the production capacity of standardized renewable natural gas systems by five times while supporting UEC's traditional business as the business continues to undergo energy transformation. In addition, RBK's global manufacturing footprint has been further optimized, introducing European natural gas production products such as Hy.GEN into the United States, and UEC's facilities are focused on container and skid-mounted renewable energy systems. In addition, the acquisition increases the coverage of the clean technology service network in six states (Montana, Wyoming, Colorado, North Dakota and South Dakota, and Nebraska) to meet the requirements of the standardized RNG And the demand for hydrogen systems is accelerating the growth of local service and support needs.
RBK expects that with limited operational changes, it can use UEC's excess capacity to produce approximately 150 to 190 containerized BGX Biostream™ ("Biostream") biogas upgrades and Hy.GEN hydrogen plants in North America each year. UEC's new capacity adds to the recent capacity increase at Xebec's Canadian manufacturing plant.
"UEC is helping Ripco consolidate its position as a leading renewable natural gas player by adding a 100,000 square foot manufacturing facility in the United States. With this acquisition, we are responding to the acceleration of the energy transition and the need for containerized RNG and hydrogen systems. In addition, with the development of the hydrogen economy, UEC’s existing hydrogen compression expertise will become more and more important. This acquisition will also help us fully meet current and changing local sourcing needs,” RUBI According to Kurt Sorschak, Chairman, President and CEO of Coadsor.
The total consideration for the acquisition of the issued shares of UEC is 8 million U.S. dollars (9.9 million Canadian dollars), subject to certain restrictions and adjustments. Taken alone, UEC expects unaudited revenue in 2021 to be approximately US$35 million (C$43.3 million). With the introduction of containerized renewable natural gas and hydrogen systems and the use of clean technology service networks to support UEC and Xebec's installed equipment base, RBK expects this business to grow significantly in the next few years.
Significantly increase production capacity to support the growing U.S. animal manure RNG market
According to data from the U.S. Department of Agriculture and the National Pork Producers Council, there are approximately 92,000 active dairy and pig farms in the United States. The U.S. Biogas Commission estimates that about 8,574 of these farms are ready for the production of biogas and renewable natural gas, and 98 of them have already produced RNG for the local transportation market.
Refco focuses on providing services for animal manure-based projects because they can reduce agricultural emissions, support local communities, and recycle nutrients. Biostream is positioned as a market-leading solution for livestock operations, as evidenced by orders from top US dairy product developers, including orders for the first 18 units from Brightmark and Chevron RNG partners.
Related link: https://www.xebecinc.com
Media inquiries: Victor Henriquez's public relations, senior partner victor@publicsc.com +1 514.377.1102
Investor Relations: Xebec Adsorption Inc. Brandon Chow, Director of Investor Relations bchow@xebecinc.com +1 450.979.8700 ext 5762
About Adsorption Inc. Adsorption Inc. Adsorption is a global supplier of clean energy solutions for renewable and low-carbon gases used in energy, transportation and industrial applications. The company specializes in deploying a series of proprietary technologies for the distributed production of hydrogen, renewable natural gas, oxygen and nitrogen. By focusing on environmentally responsible natural gas production, RBK has helped thousands of customers around the world reduce their carbon footprint and operating costs. Refco is headquartered in Quebec, Canada, with operations all over the world, with 7 manufacturing plants, 13 clean technology service centers and 5 sales offices on four continents. RBK's trading code on the Toronto Stock Exchange is (TSX code: XBC). For more information, please visit xebecinc.com.
Cautionary Statement This press release contains forward-looking statements within the meaning of applicable Canadian securities laws. These statements are related to future events or future performance, and reflect management's expectations for the company or its industry's growth, operating performance, performance, and business prospects and opportunities. Forward-looking statements usually include such things as "believe", "anticipate", "anticipate", "continue", "may", "show", "plan", "will", "intend", "may", "project", "Schedules", "would" or similar expressions that imply future results or events, although not all forward-looking statements contain these identifying words. Examples of such statements include, but are not limited to, the following statements: UEC's expected revenue in 2021; (ii) expansion of the production capacity of 150 to 190 BGX Biostream™ devices; (iii) production of Hy.GEN devices in the United States
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