– The Québec company is well positioned to provide local solutions for renewable natural gas and hydrogen projects in Québec –
MONTRÉAL, (QC), November 18th, 2020 – Xebec Adsorption Inc. (TSXV: XBC) (“Xebec”), a global provider of clean energy solutions, is pleased with the importance given to the development of renewable natural gas and hydrogen in Québec, following the unveiling of the Québec government’s plan on November 16, 2020 for a green economy, and the major investments announced in these sectors.
Québec’s renewable natural gas target has doubled to 10% by 2030
Within the plan, a minimum of 10% renewable natural gas (RNG) content in the pipeline is targeted by 2030, a doubling of the previous target which was set at 5% by 2025. This was combined with the announcement of a $213 million investment in the financing of renewable natural gas production and distribution projects, which are important indications of the scale of the Québec RNG market over the next few years.
This builds on the government’s previously announced support on July 3, 2020, through its organic material management plan to recycle or recover 70% of organic waste in the province by 2030. At that time, the province had earmarked $1.2 billion in funding to build out organic matter collection services and processing facilities. Concurrently, the funding for the PTMOBC (Programme de traitement des matières organiques par biométhanisation et compostage) program also increased by $308 million, and focuses on the treatment of organic materials by biomethanization (renewable natural gas production) and composting.
Xebec, whose head office and main manufacturing facility are located on the North Shore of Montréal, is expected to take advantage of these growing opportunities within Québec.
Globally proven technology that is ready to serve Québec projects
Xebec has worldwide experience in deploying over 315 renewable natural gas and hydrogen purification installations. By leveraging over two decades worth of know-how and proprietary technology, Xebec has differentiated itself from the competition by providing high reliability and productivity, resulting in significant savings in capital and operating expenses.
In addition, Xebec has recently launched BGX Biostream™, an innovative, small-scale, scalable, containerized and automated solution for RNG. Targeted towards dairy farmers, the BGX Biostream™ is an ideal solution for smaller farm based RNG projects as it consumes less energy than the competition, leading to greater project profitability.
Green hydrogen has a promising future in Québec
Thanks to the availability of major sources of renewable energy, Québec has the potential to be a leading player in the world for the production of green hydrogen. The clear indicators established in the government’s plan will promote the continuation of our research and development work in order to finalize local solutions in this sector.
Furthermore, in order to promote innovation, the province has also allocated $47.9 million in funding for hydrogen and bioenergy (biodiesel, ethanol, RNG) research and development.
“Thanks to our local talent, Xebec has developed world leading renewable natural gas and hydrogen technologies that are sold around the world. We are very pleased to see the government’s confidence in the potential of both RNG and green hydrogen in Québec. Our strong presence in the province will allow us to offer a local, reliable and economical solutions to organizations that will develop projects in these sectors. We are ready to take up the challenge and contribute to job creation and enrich our local economy, while transitioning the world to a clean energy future,” said Kurt Sorschak, Chairman, CEO and President of Xebec Adsorption Inc.
Public Stratégies et Conseils for Xebec
Victor Henriquez, Senior Partner
Xebec Adsorption Inc.
Brandon Chow, Investor Relations Manager
+450 979 8700 ext 5762
About Xebec Adsorption Inc.
Xebec is a global provider of gas generation, purification and filtration solutions for the industrial, energy and renewables marketplace. Well-positioned in the energy transition space with proprietary technologies that transform raw gases into clean sources of renewable energy, Xebec’s 1500+ customers range from small to multi-national corporations, governments and municipalities looking to reduce their carbon footprints. Headquartered in Montreal, Quebec, Canada, Xebec has several Sales and Support offices in North America and Europe, as well as two manufacturing facilities in Montréal and Shanghai. Xebec trades on the TSX Venture Exchange under the symbol XBC. For more information, www.xebecinc.com.
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