- Xebec Adsorption Inc. (XBC) has received C$27 million in orders for dairy projects in the US
- Five of these projects came from a previously signed letter of intent, dated December 5, 2019
- The company is expecting to deliver on the projects throughout this year and into early 2021
- Shares in Xebec are currently up 3.34 per cent to C$4.02, with a market cap of C$340.10 million
Xebec Adsorption Inc. (XBC), a worldwide provider of clean energy solutions, has received six contracts worth C$27 million for projects at US dairies.
The contracts are for biogas upgrading plants and small-scale containerized Biostream™ systems for the purpose of Renewable Natural Gas (RNG) production.
Five of the six projects come from a previous letter of intent, signed December 5, 2019, which have since turned into finalised purchase orders.
“We’re excited to see our strengthening position in the U.S dairy market. Our proven expertise in deploying our PSA technology in the European dairy market is being brought to the US. Xebec’s RNG systems are ideal for owners and operators of RNG projects who are looking to maximize uptime and reliability while minimizing electricity costs in operating their projects,” said Dr. Prabhu Rao, Chief Operating Officer of Xebec Adsorption.
“We’re happy to partner with dairy farmers across the US as they join the movement of harnessing their manure waste to produce renewable energy for a more sustainable future.”
Xebec’s growth in the US dairy market has been facilitated by its ‘Xebec Service Centers’, which offer localised service and support.
The company also holds a niche position as a provider of systems that use significantly less energy in the conversion of biogas to Renewable Natural Gas, thereby allowing for improved project profitability.
Xebec is expecting to deliver on the projects throughout this year and into early 2021, with gross profit margins forecast to be in line with previous levels.
Shares in the company are currently up 3.34 per cent to C$4.02, with a market cap of C$340.10 million.