SHANGHAI, CN, Jan. 14 /CNW Telbec/ - Xebec Adsorption Inc. (TSX: XBC) ("Xebec"), a provider of biogas upgrading, natural gas and hydrogen
purification solutions for the clean energy market, announced today
that it has signed a Memorandum of Understanding (MOU) with Anyang
Yinshang Ltd. ("Yinshang") for the development of biogas upgrading
projects in China. Under the terms of the MOU, Yinshang will use its
best efforts to purchase up to 5 biogas upgrading systems from Xebec
within the next 24 months, and commits to issue a binding purchase
order for the first upgrading plant by March 31, 2011.
"Yinshang manages and operates organic waste treatment facilities, and
is affiliated with a leading private developer and operator of
compressed natural gas ("CNG") fueling stations in Henan Province.
Yinshang has recently begun to develop clean energy projects by
converting biogas to renewable CNG. These alternate sources of CNG
provide an independent, renewable and distributed source of CNG in
areas that are not served by China's limited natural gas pipeline
infrastructure" said Andrew Hall, Xebec Vice President of Asia Pacific.
In addition to biogas upgrading from organic waste sources, Yinshang and
Xebec have committed under this MOU to explore opportunities in the
Coal Mine Methane (CMM) and landfill gas (LFG) upgrading segment. For
both of these market segments Xebec offers advanced gas purification
systems and sees significant market potential in China.
Delivery of the first plant under this MOU is expected to take place at
the end of 2011. Further terms of the agreement were not disclosed.
As previously announced, Xebec is continuing to pursue its cost
reduction measures including temporary lay-offs and ongoing efforts to
improve its capital position, as well as reviewing other strategic
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.
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, an R&D facility 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
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
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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
SOURCE XEBEC ADSORPTION INC.
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