Le Lézard
Classified in: Oil industry, Environment, Science and technology, Business
Subject: RCN

Xebec Announces Sale of Assets at Blainville Facility and Compressed Air International


MONTRÉAL, Feb. 27, 2023 /CNW/ - Xebec Adsorption Inc. ("Xebec" or the "Corporation"), a global provider of sustainable gas solutions, announced today that on February 24, 2023, Xebec completed the sale of substantially all assets located at Xebec's Blainville Québec facility as well substantially all assets of Xebec's wholly owned Ontario-based subsidiary Compressed Air International to Ivys Adsorption Inc., and the sale of Xebec's equity interest in a Shanghai-based joint venture with Shanghai based Shenergy Group Company Limited to 14791525 Canada Inc., established by Ivys, Inc. ("Ivys"), a clean fuels infrastructure solutions provider for fleet applications, further to the Corporation's previously announced ongoing sale and investment solicitation process (the "SISP").

Osler, Hoskin & Harcourt LLP acted as Xebec's legal advisor in connection with the transaction. The Corporation's financial advisor is National Bank Financial Inc. i3 Legal Inc. and Kugler Kandestin LLP acted as legal counsel to Ivys in connection with the transaction.

Xebec will provide further updates as developments warrant. Information regarding the SISP and the Corporation's proceedings under the Companies' Creditors Arrangement Act and in the United States under Chapter 15 of the Bankruptcy Code (collectively, the "CCAA Proceedings") are available on the Deloitte Restructuring Inc. (the "Monitor")'s website at https://www.insolvencies.deloitte.ca/Xebec. Information regarding CCAA Proceedings can also be obtained by calling the Monitor at 514-393-6722 or toll free at 1-888-393-6722 and via email at [email protected].

Related link:
https://www.xebecinc.com

SOURCE Xebec Adsorption Inc.


These press releases may also interest you

at 12:00
The Governments of Canada and Yukon Announce Funding to Further Support Flood Mapping Efforts in the Yukon
Communities and governments are working together to prepare for and adapt to impacts of climate change, to help improve quality of life for Canadians in higher-risk areas, and to reduce the costs of disasters. In Canada, flooding is the most common...

at 11:30
Air Products Announces Successful Performance Test of AP-DMRtm LNG Process Technology for Coral South FLNG Facility
Air Products , the leader in liquefied natural gas (LNG) technology and equipment has announced its dual mixed refrigerant LNG Process technology (AP-DMRtm) and equipment, which has been deployed at the Coral South floating liquefied natural gas...

at 11:00
SECURE RELEASES 2023 SUSTAINABILITY REPORT
SECURE Energy Services Inc. ("SECURE" or the "Corporation") today announced the release of its 2023 Sustainability Report outlining the Corporation's environment, social and governance (ESG) performance progress....

at 10:21
Cypress Creek Renewables adds clean, dispatchable solar and storage to the ERCOT grid with newest operational project
Cypress Creek Renewables, a leading solar and storage developer and independent power producer, announced today that it has completed construction and reached commercial operation of its newest and largest hybrid facility, Zier, in Brackettville,...

at 10:00
Energy CX Achieves Record-Breaking First Quarter Revenue
Energy CX, the data-driven energy brokerage on a mission to help customers purchase energy smarter, is proud to announce a record-breaking first quarter of 2024. The company continues to build momentum with prospects and customers, reaching...

at 10:00
Exchange Conference Brings Utility Leaders Together in Indianapolis, to Drive Home the Clean Energy Transition
Landis+Gyr (SIX: LAND) is bringing utilities, technology innovators, and policymakers together this week to highlight support for flexible management of energy resources, at Exchange 2024, the company's annual user conference. Held in Indianapolis...

More news about Oil industry...


News published on and distributed by: