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Be the first with the news that moves the market- Clean energy company, Xebec Adsorption (TSXV:XBC) has signed a letter of intent for a multi-million dollar biogas to RNG installation
- Renewable natural gas comes from organic waste, and may help to reduce natural gas use, which produces carbon emissions
- Xebec Adsorption will sell the installation to one of its large-scale utility customers in Alberta
- The company expects delivery of the system to occur sometime in 2021
- Xebec Adsorption (XBC) is down 1.22 per cent and is currently trading at C$4.04 per share
Clean energy company, Xebec Adsorption (TSXV:XBC) has signed a letter of intent for a multi-million dollar biogas to RNG installation.
RNG, or renewable natural gas is produced from organic waste sources and represents a greener energy alternative.
The gas can be blended with fossil natural gas and reduce its overall carbon intensity as a result. It is also compatible with pre-existing natural gas infrastructure.
RNG represents an opportunity to transition away from older, more harmful energy sources, which produce carbon emissions.
In addition to reducing greenhouse gas emission, increased use of RNG brings with it a range of other benefits. These include increased domestic energy production, improved waste management, new revenue streams, and greater job creation.
Xebec’s has agreed to sell the biogas to RNG installation to a large-scale utility customer in Alberta.
Canada is currently the fourth-largest producer of natural gas in the world. Xebec’s COO, Dr Prabhu Rao, commented on this encouraging development.
“Alberta is a significant contributor to the economic wellbeing of Canadians, and we’re happy to see the adoption of renewable natural gas production.
“This is the first commercial RNG project in Alberta, which marks a significant milestone as the province continues to innovate and deploy technologies to help reduce carbon emissions.
“We’re hopeful for the continued production of renewable gases in Canadian Western provinces, as decarbonisation and infrastructure investments remain in focus,” he said.
Xebec Adsorption (XBC) is down 1.22 per cent and is currently trading at C$4.04 per share at 12:00pm EDT.
