The beginning of June has meant a time for two celebrations for Xebec Adsorption after the company secures an order, valued at $2m, and sees Eric Favreau named GFO of the year.
Xebec Adsorption, a provider of biogas upgrading, natural gas and hydrogen purification solutions for the clean energy market, announced it has received a purchase order valued at CAD $2.05m for a H-3200 fast-cycle Pressure Swing Adsorption (PSA) hydrogen purification unit from Deok-Yang Company, the leading hydrogen supplier in South Korea.
Xebec’s H-3200 PSA unit utilises a fourth generation rotary valve design with nine adsorbent vessels that is uniquely configured in a skid-mounted platform for highest performance.
The unit will be designed to produce 6000 Nm3/h of high purity product hydrogen from a hydrogen-rich vent stream from Deok-Yang’s chemical plant for hydrogen demands by various local industrial users.
The PSA unit will be installed in Yeo-su, South Korea and the expected delivery date is in the first quarter of 2013.
“Deok-Yang has canvassed the marketplace and has chosen the Xebec H-3200 PSA for its cost competitiveness, robust operation, simplicity and high performance. The hydrogen demand in South Korea is about 8.2% of the world demand. South Korea is, without doubt, one of the world’s leading green technology countries,”
said Graham Robson, Vice President Asian/Pacific Operations of Xebec.
“We are pleased to cooperate with South Korea’s top hydrogen supplier and expect significant growth in this region,” added Graham Robson.
The company has also announced that Eric Favreau has been named CFO of the Year by CFOCanada.ca - an exclusive group of social and business networking.
The award is given each year to a CFO who makes a tremendous contribution to their organisation and the community. Prior recent winners include Robert Blain, CFO of Cirque du Soleil, Louis Philippe Carrière, CFO of Saputo, and Claude Guévin, ex-CFO of Rona.
“We are very proud of Eric and the contribution he has made to Xebec and our shareholders since joining our team in such a short period of time,” stated Kurt Sorschak, President and CEO of Xebec Adsorption.
“Eric has been instrumental in leading our turnaround efforts, restructuring our business and helping lead us towards sustained profitability. Under Eric’s guidance and leadership, we were able to enter into a strategic relationship with Air Products, one of the world’s largest industrial gas companies.”
“This transaction stabilised Xebec financially through an $8.6m cash infusion and enabled us to retain key intellectual technology surrounding our products. We were fortunate to recruit such a talented individual and look forward to continuing to benefit for many years from Eric’s leadership as our CFO.”