MONTREAL, (QC), September 30, 2021 – Xebec Adsorption Inc. (TSX: XBC) (“Xebec”), a global provider of clean energy solutions, is pleased to announce today that it has signed a contract to supply two Hy.GEN® 150 units with a Turkey-based flat steel manufacturer. The two units will have a capacity of approximately 600 kg of hydrogen per day (220 tons per year) at 99.999% purity to create a protective atmosphere within the annealing heat-treatment process. This contract from a flat steel producer represents the first of its kind received by Xebec and the third site in Turkey, showcasing the company’s increasing position and diverse set of industrial applications for on-site hydrogen generation.

“We are excited to be working with one of the largest steel manufacturers in Turkey to reduce carbon emissions and costs of their hydrogen supply with our decentralized hydrogen generation technologies. Using high purity hydrogen within the steel annealing process is a new use case for us and is an excellent example of how we can serve a variety of manufacturing processes. We look forward to growing our hydrogen reference base which now includes active installations in glass manufacturing, food, electronics, hydrocracking, and the emerging mobility sector for refueling of hydrogen vehicles,” said Marinus van Driel, President of Xebec Europe.

Building hydrogen supply for industrial customers while establishing support for the emerging mobility sector
Xebec continues to execute its strategy to satisfy existing and evolving needs for industrial hydrogen through on-site production supported by Decentralized Production Hubs (DPHs). This strategy will allow for local production of adequate quantities of hydrogen while also addressing the upcoming demand from fuel cell electric vehicles (FCEVs). Today’s announced installation will not only contribute to local industrial hydrogen supply, but excess hydrogen quantities of high purity hydrogen can be used to fill emerging demand from FCEVs. The company believes that this approach can support the economic rollout of hydrogen refueling infrastructure.

Cautionary Statement
This press release contains forward-looking statements within the meaning of applicable Canadian securities law. These statements relate to future events or future performance and reflect the expectation of Management regarding the growth, results of operations, performance and business prospects and opportunities of the Corporation or its industry. Forward-looking statements typically contain words such as “believes”, “expects”, “anticipates”, “continues”, “could”, “indicates”, “plans”, “will”, “intends”, “may”, “projects”, “schedules”, “would” or similar expressions suggesting future outcomes or events, although not all forward-looking statements contain these identifying words. Examples of such statements include, but are not limited to, statements concerning: (i) the production capacity of the equipment and purity level as noted in this press release.

These statements are neither promises nor guarantees but involve known and unknown risks and uncertainties that may cause the Company’s actual results, level of activity or performance to be materially different from any future results, levels of activity or performance expressed in or implied by these forward-looking statements. These risks include, generally, risks related to the ability of the Corporation to execute its strategy, operating results, purchasing third party supplies for key materials and components in a timely and cost effective basis, industry and products, technology, competition, ability to attract and retain qualified personnel, ability to manage successfully the anticipated expansion of our operations, the economy, the sufficiency of insurance and other factors which are discussed in greater details in the most recent quarterly management discussion and analysis (“MD&A”) and in the Annual Information Form of the Corporation filed on SEDAR at www.sedar.com.

Forward-looking statements contained herein are based on a number of assumptions believed by the Corporation to be reasonable as at the date of this press release, including, without limitations, assumptions about trends in certain market segments, the economic climate generally, the pace and outcome of technological development, the identity and expected actions of competitors and customers, the value of the Canadian dollar and of foreign currency fluctuations, interest rates, the anticipated margins under new contracts awards, the state of the Corporation’s current backlog, the regulatory environment, and the procurement of key material and components of products. If these assumptions prove to be inaccurate, the Corporation’s actual results may differ materially from those expressed or implied in the forward-looking statements. The forward-looking statements contained herein are made as of the date of this press release and are expressly qualified in their entirety by this cautionary statement. Except to the extent required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statements contained herein. Readers should not place undue reliance on forward looking statements.