July 11, 2019 - 8:30 AM EDT
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Xebec Announces Inclusion in DOE Project to Enable Economical Biomethane Production

$500,000 grant to Lawrence Livermore National Laboratory to research new composite sorbent technology

MONTREAL, July 11, 2019 (GLOBE NEWSWIRE) -- Xebec Adsorption Inc. (TSXV: XBC) (OTC: XEBEF) (“Xebec”), a global provider of clean energy solutions is pleased to announce today its inclusion in the U.S. Department of Energy’s (DOE) US$24 million commitment to a public-private collaboration funding 77 energy technology projects.

With matching funds from the private sector, the Office of Technology Transition’s (OTT) Technology Commercialization Fund (TCF) will advance the commercialization of promising energy technologies and strengthen partnerships between DOE’s National Laboratories and private sector companies to deploy these technologies to the marketplace.

Xebec’s a supporting Industrial partner on this project as a result of its collaboration with Southern California Gas (SoCalGas), and a California treatment facility. The project is being conducted through Lawrence Livermore National Laboratory (LLNL) by lead researcher Sarah Baker.

This $500,000 grant to the Lawrence Livermore National Laboratory will be used to develop and seek to commercialize their composite sorbent technology to more effectively remove CO2 from biogas. This proposed technology has the potential for significant improvements over the current state-of-the-art adsorbents used for biogas upgrading.

Xebec will play an important advisory role with our expertise in sorbents and biomethane production. Also, there is the opportunity to commercialize the technology in a small-scale biogas upgrading plant if proven successful in early stages.

“Technology transfer is an essential component of our mission at DOE, helping ensure we deliver the maximum return on the investment of the American taxpayer," said U.S. Secretary of Energy Rick Perry. “Through the TCF, we are connecting entrepreneurs in the private sector with researchers at our National Labs to help deliver the innovations and technologies that will keep our nation secure, competitive, and energy abundant.”

The DOE received over 160 applications for 2019 TCF funding, with project teams engaging more than 90 different partners across multiple diverse disciplines. Teams must receive a 50 percent match of non-federal funds from private partners to receive a TCF award.

Quotes:
“LLNL is excited to work with Xebec, who has decades of experience with biogas upgrading technology, to rigorously test LLNL’s biogas upgrading materials and move them toward commercialization.”
Sarah Baker, Staff Scientist, Lawrence Livermore National Laboratory

"We are proud to be working alongside LLNL and SoCalGas to research how new sorbents can enable more economical biomethane production. This is the first time Xebec has participated in a DOE funded project, and we look forward to vigorously testing LLNL’s biogas upgrading materials. The renewable natural gas industry is seeing unprecedented growth and cost reduction will be important in developing the market further.”
Dr. Prabhu Rao, Chief Operating Officer, Xebec Adsorption Inc.

Related links:
https://www.energy.gov/articles/department-energy-announces-2019-technology-commercialization-fund-projects
https://www.xebecinc.com

For more information:
Xebec Adsorption Inc.
Sandi Murphy, Director, Investor Relations and Marketing
+1 450.979.8718 [email protected]

Kurt Sorschak, President and Chief Executive Officer
[email protected]

About Xebec Adsorption Inc.
Xebec Adsorption Inc. is a global provider of gas generation, purification and filtration solutions for the industrial, energy and renewables marketplace. Its customers range from small to multi-national corporations and governments looking to reduce their carbon footprints. Headquartered in Montreal (QC), Xebec designs, engineers and manufactures innovative and transformative products, and has more than 1,500 customers worldwide. With two manufacturing facilities in Montreal and Shanghai, as well as a sales and distribution network in North America, Europe, and Asia, Xebec trades on the TSX Venture Exchange under the symbol XBC. For additional information on the company, its products and services, visit Xebec at xebecinc.com.

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.

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Source: GlobeNewswire (July 11, 2019 - 8:30 AM EDT)

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