- Xebec Adsorption Inc. (XBC) acquires Colorado-based UECompression (UEC) to establish North America’s leading Renewable Natural Gas and Hydrogen Manufacturing Facility
- 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
- The total consideration for the acquisition of the outstanding shares of UEC is of $9.9 million and is subject to certain holdbacks and adjustments
- On a standalone basis UEC is expected to have unaudited revenues of approximately $43.3 million for 2021
- Xebec is a global provider of clean energy solutions for renewable and low carbon gases used in energy, mobility and industrial applications
- Xebec Adsorption Inc. (XBC) is up 3.9 per cent and is trading at $3.73 per share at 4:00 p.m. ET
Xebec Adsorption Inc. (XBC) has acquired UECompression (UEC) to establish North America’s leading Renewable Natural Gas and Hydrogen Manufacturing Facility.
Xebec is a global provider of clean energy solutions for renewable and low carbon gases used in energy, mobility and industrial 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.
The total consideration for the acquisition of the outstanding shares of UEC is of $9.9 million and is subject to certain holdbacks and adjustments.
On a standalone basis, UEC is expected to have revenues of approximately $43.3 million for 2021.
With the introduction of containerized renewable natural gas and hydrogen systems and leveraging the Cleantech Service Network to support UEC’s and Xebec’s installed equipment base, Xebec expects to see significant growth for this operation over the coming years.
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.
Also, the acquisition increases the Cleantech Service Network coverage of Montana, Wyoming, Colorado, North & South Dakota and Nebraska to meet the increasing need for local service and support as the demand for standardized RNG and hydrogen systems accelerates.
Xebec expects that with limited changes to operations it can use UEC’s excess capacity to produce approximately 150 to 190 containerized BGX Biostream™ biogas upgrading and Hy.GEN hydrogen units per year in North America.
The new capacity from UEC adds to recent capacity increases in Xebec’s Canadian manufacturing facility.
Xebec Adsorption Inc. (XBC) is up 3.9 per cent and is trading at $3.73 per share at 4:00 p.m. ET.
