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The acquisition of UECompression ("UEC") based in the Denver region will expand the North American production capacity by five times, and produce a total of 150 to 190 containers of BGX Biostream™ ("Biostream") and Hy.GEN® hydrogen plants per year to meet the US standardization requirements. Renewable gas system
Further optimize the global manufacturing footprint by introducing European natural gas power generation products such as Hy.GEN from RBK to North America
Biostream is positioned as the market-leading RNG solution for an estimated 8,574 US dairy, poultry, and pig farms that have been identified for biogas production
Expansion of the clean technology service network coverage to Montana, Wyoming, Colorado, North Dakota and South Dakota, and Nebraska
Increase highly skilled labor with experience in designing and manufacturing air and gas treatment systems, refer to landfill gas, natural gas, biogas, hydrogen and air compression
UEC is expected to generate approximately US$35 million (C$43.3 million) in unaudited revenue from its existing business in 2021
The total consideration is US$8 million (C$9.9 million), subject to certain restrictions and adjustments
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 focusing UEC's facilities on container and skid-mounted renewable energy systems. In addition, the acquisition has increased 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 standardized RNG And the demand for hydrogen systems is accelerating the growth of local service and support needs.
Refco 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.” According to Kurt Sorschak, Chairman, President and CEO of Coadsorption.
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 (43.3 million Canadian dollars). 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 information such as "believes", "anticipates", "anticipates", "continues", "may", "shows", "plans", "will", "intends", "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
These statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties that may cause the company’s actual results, activity levels or performance to be different from those expressed or implied in these forward-looking statements. Any future results, activity levels or performance are materially different. Look at the statement. These risks usually include the ability to execute its strategy with the company, business performance, third-party supply of key materials and components purchased on a timely and cost-effective basis, industry and products, technology, competition, attract and retain qualified personnel, and successfully manage us The ability of the company’s business, economy, adequacy of insurance and other factors to anticipate expansion. These factors are discussed in more detail in the recent quarterly management discussion analysis ("MD&A") and annual report at SEDAR on www.sedar.com The company information form submitted on the.
The forward-looking statements contained herein are based on certain assumptions that the company believes to be reasonable on the date of this press release, including but not limited to the results of certain market segments, overall economic environment, pace and technological development, competitors and customers The identity and expected actions of the company, the value of Canadian dollars and the value of foreign currency fluctuations, interest rates, expected profit margins for new contract awards, the company’s current backlog status, regulatory environment, and the procurement of key materials and components for products. If these assumptions prove to be inaccurate, the company's actual results may differ materially from the results expressed or implied in the forward-looking statements. The forward-looking statements contained herein were made on the date of this press release, and as a whole, they are expressly qualified by this cautionary statement. Except as required by law, the company assumes no obligation to publicly update or revise any forward-looking statements contained herein. Readers should not rely excessively on forward-looking statements.
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