Xebec Supports Fight Against COVID-19 as Hospitals Adopt On-site Oxygen Generation
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Continued traction for medical on-site oxygen generators as demand increases worldwide
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MONTREAL, March 30, 2021 (GLOBE NEWSWIRE) -- Xebec Adsorption Inc. (TSX: XBC) (“Xebec”), a global provider of clean energy solutions, is pleased to announce today that its wholly owned subsidiary Inmatec, has received an order for 14 POC medical on-site oxygen generators for hospitals in Moldova. This contract follows a number of recent orders including one placed in December 2020 for 48 units, valued at €1.7 million, for hospitals in India. In addition, Inmatec has completed a number of high-profile deliveries to healthcare facilities in Peru, United Kingdom, Africa and the Middle East.
Medical oxygen has seen surging demand as a result of the worldwide COVID-19 pandemic. Oxygen is used by patients with severe symptoms of COVID-19, in addition in patients requiring oxygen for other disease states such as chronic obstructive pulmonary disease (COPD), cystic fibrosis (CF) and asthma. As a result of the new demand, supply bottlenecks for the gas have been created and this has showcased the challenges with securing oxygen from centralized sources.
Xebec is supporting the fight against COVID-19 with its on-site oxygen generation products, which improve the supply and delivery constraints by providing an economical means for on-site production. By adopting these products, hospitals get access to immediate, stable production at up to 60% lower cost and lower carbon emissions than traditional supply options.
“We are proud to be playing our part in fighting the novel coronavirus. Oxygen shortages continue to be rampant around the world in both developed and developing countries. Most importantly, Inmatec enables remote hospitals to have economical access to oxygen for patients on ventilators, in operating theatres under anesthesia, and to fill cylinders. This same technology platform can also be applied for fish farming, wastewater treatment and renewable natural gas production. Xebec is becoming a key player in distributed gas generation with an aim to lower costs and emissions for customers,” stated Marinus van Driel, President of Xebec Europe.
2020 saw an accelerated adoption of medical on-site oxygen generationIn response to the pandemic, numerous governments implemented measures, adjusted regulations or made direct investments to secure adequate oxygen production. As a result of the improved backdrop, Inmatec delivered 224 oxygen generators in 2020, up from 118 in the previous year, resulting in revenue more than tripling. Xebec expects that customers around the world will continue to recognize the benefits of on-site oxygen generation and consequently has delivered (as of March 22, 2021) 66 units in 2021 to customers around the globe and has received orders for another 67 units.
Media Inquiries:Public Relations for XebecVictor Henriquez, Senior Partnervictor@publicsc.com+1 514.377.1102
Investor Relations:Xebec Adsorption Inc.Brandon Chow, Director, Investor Relationsbchow@xebecinc.com+1 450.979.8700 ext 5762
About Xebec Adsorption Inc.Xebec is a global provider of clean energy solutions for renewable and low carbon gases used in energy, mobility and industry applications. The company specializes in deploying a portfolio of proprietary technologies for the distributed production of hydrogen, renewable natural gas, oxygen and nitrogen. By focusing on environmentally responsible gas generation, Xebec has helped thousands of customers around the world reduce their carbon footprints and operating costs. Headquartered in Québec, Canada, Xebec has a worldwide presence with five manufacturing facilities, eight Cleantech Service Centers and four sales offices spanning over four continents. Xebec trades on the Toronto Stock Exchange under the symbol (TSX: XBC). For more information, xebecinc.com.
Cautionary Statement 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, notably as a consequence of the Covid-19 pandemic, Xebec’s capacity to generate revenue growth, the availability to Xebec of financing and credit alternatives and access to capital, Xebec’s capacity to meet all its other commitments and business plans, Xebec’s limited number of customers, the potential loss of key employees, changes in the use of proceeds relating to the loan, share price volatility, 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.
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