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Xebec Acquires Colorado-based UECompression to Establish North America’s Leading Renewable Natural Gas and Hydrogen Manufacturing Facility
Xebec Acquires Colorado-based UECompression to Establish North America’s Leading Renewable Natural Gas and Hydrogen Manufacturing Facility.
About this update from Xebec Adsorption Inc.
[{"type":"text","content":"\n Key Transaction Highlights Acquisition of Denver area based UECompression (“UEC”) to expand North American production capacity five-fold for a total of 150 to 190 containerized BGX Biostream™ (“Biostream) and Hy.GEN® hydrogen units per year to meet accelerating U.S. demand for standardized renewable gas systemsFurther optimizes global manufacturing footprint by bringing Xebec’s European gas generation products such as Hy.GEN to North AmericaBiostream well positioned as a market leading RNG solution for an estimated 8,574 U.S. dairy, poultry, and swine farms identified for biogas productionExpands Cleantech Service Network coverage to Montana, Wyoming, Colorado, North & South Dakota and NebraskaAdds highly skilled workforce with experience in designing and manufacturing air and gas processing systems with references in landfill gas, natural gas, biogas, hydrogen, and air compressionUEC is expected to generate approximately USD $35.0 million (CAD $43.3 million) in unaudited revenues from its existing business in 2021Total consideration of USD $8 million (CAD $9.9 million) subject to certain holdbacks and adjustments MONTREAL, Nov. 03, 2021 (GLOBE NEWSWIRE) -- Xebec Adsorption Inc. (TSX: XBC) (“Xebec”), a global provider of clean energy solutions, is pleased to announce today that it has closed the acquisition of all the outstanding shares of Colorado-based UECompression (“UEC”). Founded in 1983, UEC is a premier designer and builder of custom air and gas compressor solutions for power generation, industrial and energy applications. The acquisition of UEC provides Xebec with a cost-effective and timely pathway towards expanding production capacity five-fold for standardized renewable gas systems while supporting UEC’s legacy business as the operation continues its energy transition. In addition, Xebec’s global manufacturing footprint is further optimized by bringing European gas generation products such as Hy.GEN to the U.S. and focuses UEC’s facility on containerized and skid-mounted renewable energy systems. Furthermore, the acquisition increases the Cleantech Service Network coverage by six states (Montana, Wyoming, Colorado, North & South Dakota and Nebraska) to meet the increasing need for local service and support as the demand for standar...