MONTREAL, April 22, 2015 /CNW Telbec/ - Xebec Adsorption Inc. (TSXV: XBC) ("Xebec"), a provider of gas purification and filtration solutions for the natural gas, field gas, biogas, helium, and hydrogen markets, announced today that its natural gas dryer business has increased by 49.2% in 2014.
In 2014 Xebec achieved the highest sales revenue for natural gas dryers in its corporate history. The worldwide growing market for natural gas vehicles and the associated build-out of natural gas refueling infrastructure has been driving Xebec's growth in this segment. The increase is expected to continue in the coming years, as natural gas replaces diesel and gasoline as a cleaner and less expensive transportation fuel in many parts of the world.
In response to demand and to solidify its industry leading position, Xebec added a number of new state-of-the-art features to its natural gas dryers. These additions, combined with some complexity reductions on the overall product design, ensure both a high quality offering and competitive edge in the near and medium term.
As of January 2015, all natural gas dryers for the Asian market delivered out of Xebec's Shanghai facility come standard with newly-upgraded electronics, for example, a touch screen panel for improved local and remote control capability.
Xebec also announces the appointment of Dr. Prabhu Rao to its Board of Directors. This appointment reflects the desire of the company to further strengthen its position in the industrial and renewable gas and hydrogen generation and purification market.
Dr. Rao is CEO of McPhy Energy North America, a leading manufacturer of equipment that optimizes electricity resources based on a unique technology - hydrogen storage in solid form, in association with technology for hydrogen production by water electrolysis that has been reinvented and perfectly adjusted to the production needs of renewable energy.
Dr. Rao holds a Master's and PhD degree in Mechanical Engineering from Drexel University in Philadelphia, PA. He also participates in the following organizations:
- Board Member, North East Electrochemical Cluster
- Founding Member of Massachusetts Hydrogen Coalition
- Founding Member of TIE Angels, An Angel Investment Fund
- Charter Member, TIE, A Global Entrepreneurship Organization
- Chair, Clean Tech Special Interest Group, TIE –Boston
Xebec would like to thank Mr. Jean Bédard who resigned from the Board of Directors on December 17th, 2014, for his contribution to the Company and wishes him well in his future endeavors.
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 1,500 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 gas purification, natural gas dehydration, and filtration is growing. Headquartered in Montreal (QC), Xebec is a global company with two manufacturing facilities in Montreal and Shanghai, as well as a sales and distribution network in North America and Asia. Xebec trades on the TSX Venture Exchange under the symbol XBC. For additional information on the company and its products and services, please visit the Xebec web site at www.xebecinc.com.
SOURCE Xebec Adsorption Inc.
For further information: Investor Relations contact: Alnoor Mandjee, Chief Financial Officer, 450-979-8738, [email protected]