FormerXBC Inc XEBEQ

TD Flash Note

[Ciao]

Event Xebec announced a hydrogen ‘Gas-as-a-Service’ contract.
Impact: NEUTRAL

Details: Xebec has commissioned an automated hydrogen generation system,producing 560kg of hydrogen per day (205 tons per year) under a 15-year 'Gas-as-a-Service' contract with TAYRA, a company that operates a used lubricant oilre-refinery in Turkey. The hydrogen produced by Xebec’s system will hydro-treatused oils to remove sulphur, chlorine, nitrogen, phosphorous, silica and saturationof aromatics, reducing emissions from Group II base lubricating oils.TD View: This contract is another positive step toward Xebec's ambitions of pursuinga recurring revenue model for its hydrogen-related businesses and adds to a growingproject portfolio. However, no financial details are provided in the press release and,therefore, we expect that the project is not material on a stand-alone basis. As aresult, we will not be making any changes to our estimates at this time.

No one really wants to stick their neck out, understandable. They're all waiting for the big one.

[catchascatchcan]

Yes it's hard to argue with the below.  Postive as in 'not negative', but immaterial in itself. Maybe the next one will be a biggie. TD View: This contract is another positive step toward Xebec's ambitions of pursuing a recurring revenue model for its hydrogen-related businesses and adds to a growing project portfolio. However, no financial details are provided in