Xebec Adsorption (TSX: XBC) this morning had a brief news release, wherein they identified they have sold two more of its hydrogen production devices. The devices were sold to a flat steel producer based in Turkey, whom will use the hydrogen in their manufacturing processes.
The two units sold to the producer reportedly have a capacity of 600 kilograms of hydrogen per day, or 220 tones per year, which will then be used in the annealing heat-treatment process of steel production. The use of the hydrogen is reportedly the first of its kind for Xebec, effectively representing a new market in which it can continue to push as a sales channel.
The sale is said to represent the third site in Turkey wherein Xebec’s hydrogen technology will be operated as a means of reducing carbon emissions and the cost of hydrogen itself.
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Financial terms of the arrangement were not provided by the company, nor was a timeline for the completion of the order.
Xebec Adsorption last traded at $3.08 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. 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.
