Xebec Adsorption Inc. (TSXV: XBC) (“Xebec”), a
global provider of clean energy solutions today announced that
renewable energy project developer and operator Asja Ambiente
Italia SpA is in the final construction phase of its 11.2 MW
landfill gas (LFG) to Renewable Natural Gas (RNG) plant in Genoa,
Italy. Scheduled completion date is end of 2019. (Reference Xebec
PR of March 6, 2019 – URL below).
Asja is a major player in international power
generation using landfill gas generated at municipal solid waste
(MSW) landfill sites. With this first time ever project, Asja is
transforming its Genoa landfill site installation to produce
biomethane instead of electricity. Xebec’s Pressure Swing
Adsorption (PSA) system was chosen for its innovative solution,
delivering lower initial investment costs, low operating and
maintenance costs, flexible and stable performance, combined with
high durability and reliability. Expected benefits from the
transition of electricity production to biomethane are plant
efficiency improvements, reduction of emission points from 5 to 2,
less waste production, greening of the gas supply and a longer
period for monetizing the biogas.
Quotes: “Asja is strengthening
its presence in the renewable energy sector in support of 2030
global targets. This project will allow us to produce biomethane
versus electricity as a form of renewable power from biogas, a
sector in which we have been a market leader in Italy for more than
20 years. In addition to this project, Asja has currently three
biomethane production plants from organic waste in operation, two
under construction and several more under development.- Dr.
Tommaso Cassata, General Manager, Asja Ambiente“More and
more waste companies and developers are looking toward Landfill
Gas-to-Fuels, especially to RNG as a low carbon fuel alternative
with a much better value proposition than electricity and a
significantly higher return on investment (ROI). Xebec is a proven
change agent in this transition, as we move from a fossil fuel
economy to a low carbon renewable energy future.”- Dr.
Francesco Massari, General Manager, Xebec Europe
Related
Links:www.xebecinc.comhttps://investors.xebecinc.com/press/xebec-receives-another-significant-order-in-italy/https://www.asja.energy/
For more information:Xebec
Adsorption Inc.Brandon Chow, Investor Relations Specialist +1
450.979.8700 ext 5762 bchow@xebecinc.com
Kurt Sorschak, President and Chief Executive
Officer+1 450.979.8701 ksorschak@xebecinc.com
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 Montréal, 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 and
on the OTCQX Exchange under the symbol XEBEF. For additional
information on the company, its products and services, visit Xebec
at xebecinc.com.
About Asja Ambiente Italia SpA Asja Ambiente
Italia designs, builds and operates renewable energy plants (PV,
wind, biogas and biomethane). With more than 180 MW of installed
capacity in Italy, China and Brazil, Asja generates over 600 GWh/y
of green energy. Asja offers a range of products and services for
energy efficiency and environmental sustainability: the TOTEM
microcogenerator for the combined production of heat and power and
the Asja -CO2 system for greenhouse gas emissions offsetting. Visit
Asja at asja.energy.
Cautionary Statement Neither
TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release. This news release contains forward-looking statements and
forward-looking information (together, “forward-looking
statements”) within the meaning of applicable securities laws. All
statements, other than statements of historical facts, are
forward-looking statements, and subject to risks and uncertainties.
Generally, forward-looking statements can be identified by the use
of terminology such as “plans”, “seeks”, “expects”, “estimates”,
“intends”, “anticipates”, “believes”, “could”, “might”, “likely” or
variations of such words, or statements that certain actions,
events or results “may”, “will”, “could”, “would”, “might”, “will
be taken”, “occur”, “be achieved” or other similar expressions.
Forward-looking statements, including statements concerning future
capital expenditures, revenues, expenses, earnings, economic
performance, indebtedness, financial condition, losses and future
prospects as well as the expectations of management of Xebec with
respect to information regarding the business and the expansion and
growth of Xebec operations, involve risks, uncertainties and other
factors that could cause actual results, performance, prospects and
opportunities to differ materially from those expressed or implied
by such forward-looking statements. Forward-looking statements are
subject to business and economic factors and uncertainties, and
other factors that could cause actual results to differ materially
from these forward-looking statements, including the relevant
assumptions and risks factors set out in Xebec's public documents,
including in the most recent annual management discussion and
analysis and annual information form, filed on SEDAR at
www.sedar.com. Furthermore, should one or more of the risks,
uncertainties or other factors materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those described in forward-looking statements or information.
These risks, uncertainties and other factors include, among others,
the uncertain and unpredictable condition of global economy,
Xebec’s capacity to generate revenue growth, limited number of
customers, and other factors. Although Xebec believes that the
assumptions and factors used in preparing the forward-looking
statements are reasonable, undue reliance should not be placed on
these statements, which only apply as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed times frames or at all. Except where required by
applicable law, Xebec disclaims any intention or obligation to
update or revise any forward-looking statement, whether as a result
of new information, future events or otherwise.
Two photos accompanying this announcement are
available
at: https://www.globenewswire.com/NewsRoom/AttachmentNg/7f1230e8-eb2a-44c3-ae64-aaac2e5985ca
https://www.globenewswire.com/NewsRoom/AttachmentNg/806c12f4-53b6-417c-8b2c-0fe19e944884
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