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Xebec Announces Second Order for a Biogas
Upgrading Plant in South Korea
MONTREAL (QC), January 25, 2012 - Xebec
Adsorption Inc. (TSX: )
("Xebec"), a provider of
biogas upgrading, natural gas and
hydrogen purification solutions for the
clean energy market, announced today
that it has been awarded a $2.2 million
contract to supply a biogas upgrading
plant for a waste to energy project
located in South Korea. The order was
placed by Potlatch Inc., a Korean
developer and operator of renewable
energy and fuel cell projects.
Xebec's plant will upgrade biogas
generated from the digestion of food
waste, producing high quality renewable
compressed natural gas
("CNG") to be used as vehicle
fuel for a fleet of municipal buses.
This will be the second biogas
upgrading plant supplied by Xebec into
the Korean market, following a similar
plant installed and operating at the
Sudokwon Landfill site in Incheon in
2011.
"Since the 1996 Protocol to the
London Convention came into effect in
2006, banning ocean disposal of waste,
the Korean Government has aggressively
supported the development of anaerobic
digestion to process food waste,"
said Andrew G. Hall, Xebec Vice
President of Asia Pacific Operations,
"Given the high price of natural
gas in Korea, many municipalities and
private project developers are focusing
on the generation of renewable gas and
CNG fuel from food waste," Hall
said.
Commissioning and start-up of the
upgrading plant is expected to take
place in the second half of 2012. Terms
of the agreement were not
disclosed.
About Xebec Adsorption Inc.
Xebec Adsorption Inc. is a global
provider of clean energy solutions to
corporations and governments looking to
reduce their carbon footprints. With
more than 1300 customers worldwide,
Xebec designs, engineers and
manufactures innovative products that
transform raw gases into marketable
sources of clean energy. Xebec's
strategy is focused on establishing
leadership positions in markets where
demand for biogas upgrading, natural
gas dehydration and hydrogen
purification is growing. Headquartered
in Montreal (QC), Xebec is a global
company with two state-of-the-art
manufacturing facilities in Montreal
and Shanghai, a Technology Centre in
Vancouver (BC), as well as a sales and
distribution network in North America
and Asia. Xebec trades on the TSX under
the symbol XBC. For additional
information on the company and its
products and services, please visit the
Xebec web site at .
Caution Concerning Forward-Looking
Statements
Certain statements in this press
release may constitute
"forward-looking" statements
within the meaning of applicable
securities laws. This forward looking
information includes, but is not
limited to, the expectations and/or
claims of management of Xebec with
respect to information regarding the
business, operations and financial
condition of Xebec. Forward-looking
information contained in this press
release involve known and unknown
risks, uncertainties and other factors
which may cause the actual results,
performance or achievements of Xebec or
industry results, to be materially
different from any future results,
performance or achievements expressed
or implied by such forward-looking
statements. This list is not exhaustive
of the factors that may affect
forward-looking information contained
in this press release. When used in
this press release, such statements use
such words as "anticipate",
"believe", "plan",
"estimate",
"expect", "intend",
"may", "will" and
other similar terminology. These
statements reflect current expectations
regarding future events and operating
performance and speak only as of the
date of this presentation.
Forward-looking statements involve
significant risks and uncertainties,
should not be read as guarantees of
future performance or results, and will
not necessarily be accurate indications
of whether or not such results will be
achieved. A number of factors could
cause actual results to differ
materially from the results discussed
in the forward-looking statements.
For more information, please
contact:
Kurt Sorschak
President and CEO
450-979-8701
ksorschak@xebecinc.com
Eric Favreau
Vice President, Finance and CFO
450-979-8706
efavreau@xebecinc.com |
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