MONTREAL, Nov. 06, 2019 (GLOBE NEWSWIRE) -- 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.com
https://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