GREY:XEBEQ - Post by User
Post by
retiredcfon Feb 01, 2022 8:59am
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Post# 34383936
TD
TD Xebec Adsorption Inc.
(XBC-T) C$1.91
Announces Electrolyser Order
Event
Xebec announced an order for an on-site electrolyser unit for food application.
Impact: NEUTRAL
Details: Xebec announced that it has received an order for a Hy.GEN-e on-site electrolyzer unit, with nameplate hydrogen production capacity of 100 Nm3/h (215kg/ day). The order was received from Belgium-based Desmet Ballestra Group, and will focus on a food hydrogenation application.
TD View: This equipment order is positive in the sense that it is Xebec's first order that utilizes electrolyzer technology, and note that HyGEAR's intellectual property largely focuses on hydrogen production derived from small scale steam methane reforming technology. We have known for some time that Xebec has had this capability, but had not yet seen it culminate in an order. From a materiality standpoint, we note that no financial details were provided in the press release, highlighting, in our view, that this release was intended to showcase the breadth of its product portfolio, but is not likely meaningful in the context of consolidated financial performance. As a result, we will not be making any changes to our estimates at this time.