Xebec Adsorption (TSXV: XBC) this morning announced that it has secured an additional letter of intent for the sale of another installation, bringing this months orders to approximately $11.9 million. The latest letter of intent is for the sale of a landfill gas to renewable natural gas installation, which will be sold within North America.
Much like the sale of its biogas to renewable gas installation announced last week to a large scale customer in Alberta, the company expects the letter of intent to convert into backlog over the next few months. Delivery of the system is anticipated to occur in 2021 as a result.
Combined with a number of hydrogen purification system orders received this month, the company has received approximately $11.9 million in backlogged orders through the month of June. The hydrogen purification systems enable the productng of high purity hydrogen for use in fuel cells and industrial applications.
Xebec Adsorption last traded at $3.96 on the TSX Venture.
Information for this briefing was found via Sedar and Xebec Absorption Inc. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
