Xebec Releases Inaugural Annual Sustainability Report

MONTREAL, Aug. 31, 2020 (GLOBE NEWSWIRE) — Xebec Adsorption Inc. (TSXV: XBC) (“Xebec”), a global provider of clean energy solutions is pleased to release today its inaugural 2019 ESG Report, highlighting its approach to sustainability and setting a baseline for managing and reporting on its material environmental, social, and governance (“ESG”) issues.

“Gross Domestic Product growth and prosperity should not come at the expense of environmental and social prosperity, and Xebec is committed to ensuring that it conducts business responsibly for the benefit of future generations. Xebec’s 2019 ESG Report is a first step to bring structure and process to the integration of ESG considerations in the conduct of our business that will lead to improved reporting year over year,” said Kurt Sorschak, Chairman, CEO and President of Xebec.

Reporting on Xebec’s material ESG issues is based on the standards of the Sustainability Accounting Standards Board (“SASB”) for the Industrial Machinery & Goods industry of the Resource Transformation sector, as defined by SASB’s Sustainable Industry Classification System®; these serve to determine the specific material ESG issues we report on. Xebec has also used the framework provided by the Taskforce on Climate-related Financial Disclosures (“TCFD”); these serve as a guide to the context and narrative Xebec provides for its sustainability approach in general and how the company addresses each material issue specifically.

Material issues addressed in the report:

Climate change

Energy management

Employee health and safety

Fuel economy and emissions in use-phase

Materials sourcing

Remanufacturing design and services

Xebec is implementing a continuous improvement process of managing, measuring, and reporting on those ESG issues that are critical to our business activities. With this report, we have begun the process of explicitly identifying such issues and integrating them into our governance and management processes, in order to more clearly measure and communicate how we perform on them to our stakeholders including our shareholders, employees, capital providers, governmental agencies, and the general public.

The full Xebec 2019 ESG Report can be downloaded at:
https://xebecinc.com/wp-content/uploads/2020/08/ESG-Report-2019.pdf

For more information:
Xebec Adsorption Inc.
Brandon Chow, Investor Relations Manager
[email protected]
+1 450.979.8700 ext 5762

About Xebec Adsorption Inc.
Xebec is a global provider of gas generation, purification and filtration solutions for the industrial, energy and renewables marketplace. Well-positioned in the energy transition space with proprietary technologies that transform raw gases into clean sources of renewable energy, Xebec’s 1500+ customers range from small to multi-national corporations, governments and municipalities looking to reduce their carbon footprints. Headquartered in Montréal, Quebec, Canada, Xebec has several Sales and Support offices in North America and Europe, as well as two manufacturing facilities in Montréal and Shanghai. Xebec trades on the TSX Venture Exchange under the symbol XBC. For more information, www.xebecinc.com.

Cautionary Statement
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements, and subject to risks and uncertainties. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “seeks”, “expects”, “estimates”, “intends”, “anticipates”, “believes”, “could”, “might”, “likely” or variations of such words, or statements that certain actions, events or results “may”, “will”, “could”, “would”, “might”, “will be taken”, “occur”, “be achieved” or other similar expressions. Forward-looking statements, including statements concerning future capital expenditures, revenues, expenses, earnings, economic performance, indebtedness, financial condition, losses and future prospects as well as the expectations of management of Xebec with respect to information regarding the business and the expansion and growth of Xebec operations, involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are subject to business and economic factors and uncertainties, and other factors that could cause actual results to differ materially from these forward-looking statements, including the relevant assumptions and risks factors set out in Xebec’s public documents, including in the most recent annual management discussion and analysis and annual information form, filed on SEDAR at www.sedar.com. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors include, among others, the uncertain and unpredictable condition of global economy, notably as a consequence of the Covid-19 pandemic, Xebec’s capacity to generate revenue growth, the availability to Xebec of financing and credit alternatives and access to capital, Xebec’s capacity to meet all its other commitments and business plans, Xebec’s limited number of customers, the potential loss of key employees, changes in the use of proceeds relating to the loan, share price volatility, and other factors. Although Xebec believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, Xebec disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.