Business
Xebec Expands Product Portfolio and Enters German Hydrogen and Renewable Natural Gas Markets with Acquisition of Inmatec
Xebec Expands Product Portfolio and Enters German Hydrogen and Renewable Natural Gas Markets with Acquisition of Inmatec.
About this update from Xebec Adsorption Inc.
[{"type":"text","content":"\n - Acquisition fills product gaps in onsite Oxygen and Nitrogen generators for industrial and medical applications, and provides German sales and service network - ALL FIGURES IN CANADIAN DOLLARS UNLESS OTHERWISE STATED Key Transaction Highlights Expanding industrial gas product portfolio and Cleantech Service Network with the acquisition of Inmatec, a German-based manufacturer of best-in-class onsite nitrogen and oxygen generatorsAcquiring leading oxygen and nitrogen generation technology with a reference base of over 8,000 installed systems worldwideIncreasing Cleantech Service Network coverage with parts of Europe, the Middle East and Africa through Inmatec’s existing service capabilitiesEntering the German hydrogen and renewable natural gas (RNG) markets, by leveraging Inmatec’s local sales and service teams to reach the country’s evolving hydrogen opportunities and 8,900 active biogas installationsLeveraging the existing distribution network consisting of 40+ partners worldwide for cross-selling opportunitiesExposure to the fast-growing medical oxygen market with turnkey hospital oxygen generators and systems MONTREAL, Dec. 17, 2020 (GLOBE NEWSWIRE) -- Xebec Adsorption Inc. (TSXV: XBC) (“Xebec” or the \"Corporation\"), a global provider of clean energy solutions, is pleased to announce it has entered into a definitive agreement to acquire all of the issued and outstanding shares of Inmatec Gase Technologie GmbH & Co. KG, Inmatec GmbH and Inmatec Gas Technology FZC RAK (collectively, “Inmatec”), in the United Arab Emirates (the “Acquisition”). \"We’re excited to be announcing another strategic acquisition for us this month. Inmatec builds on our thesis for onsite generation of gases as it enables customers to achieve significant cost and emission reductions,\" said Kurt Sorschak, Chairman, CEO and President of Xebec Adsorption Inc. “Inmatec is one of the world leaders in onsite nitrogen and oxygen generators and has achieved impressive scale with over 8,000 units deployed worldwide. Their German manufacturing and engineering capabilities have resulted in a reputation for high quality and extremely reliable products.” \"Notably, Inmatec complements both our onsite hydrogen generators, which are produced by HyGear and our own industrial air and renew...