Wesfarmers Limited (WES.AX)
- Simply Wall St.
We Think Wesfarmers (ASX:WES) Can Manage Its Debt With Ease
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
- GlobeNewswire
Xebec and Coregas Partner to Accelerate Development of Hydrogen Ecosystems in Australia and New Zealand
A unique hydrogen partnership with one of Australia’s largest gas companiesMONTREAL, March 15, 2021 (GLOBE NEWSWIRE) -- Xebec Adsorption Inc. (TSX: XBC) (“Xebec”), a global provider of clean energy solutions, is pleased to announce that its wholly owned subsidiary HyGear, and Coregas, a Wesfarmers (ASX: WES) company, signed a Memorandum of Understanding (“MOU”) to develop a robust ecosystem for the deployment of highly efficient hydrogen supply to the transport, industrial and commercial markets across Australia and New Zealand. Equipped with industry leading technology for on-site gas generation, HyGear will support Coregas with its expertise in the process of hydrogen production, purification and recycling of industrial gases, including installation, operations and maintenance. By combining Coregas’ established footprint of production and storage facilities for compressed gases, both companies will cooperate in building a hydrogen supply business model for HyGear’s steam methane reforming and electrolyser technologies with Coregas’ large customer base in Australia and New Zealand. “Coregas is delighted to enter into this partnership with Xebec to collaborate on real solutions that drive the development of hydrogen ecosystems. We look forward to bringing our respective expertise and technologies together to deliver turn-key solutions for customers operating across the hydrogen value chain,” said Alan Watkins, Coregas Executive General Manager. “We are excited to collaborate with Coregas by providing concrete cost and carbon emission reduction solutions for the emerging hydrogen infrastructure in Australia and New Zealand. This long-term partnership aligns with our objective to develop a cost-effective and local leadership in the hydrogen gas industry, helping us establish a benchmark for zero emissions in transport and industry,” stated Marinus van Driel, President of Xebec Europe and Global Hydrogen Group. The agreement further outlined the mutual support in the business operations of both organizations. In view of the rapid expansion of the hydrogen gas industry in Australia, HyGear recognizes the potential need to support Coregas in the future with its unique Decentralized Production Hub (DPH) strategy. On February 16, 2021, Xebec announced the launch of its hydrogen supply strategy in the United Kingdom. This included the construction of the company’s second Decentralized Hydrogen Production Hub in West Bromwich, with Buse Gases Ltd as a joint venture. This announcement follows the successful construction and operation of the first hub in Arnhem, The Netherlands, which was commissioned in 2017 and is currently delivering hydrogen to customers locally. “We believe the DPH strategy will create compelling and sustainable value for our partnership with Coregas and their customers,” said Marinus van Driel. “These hubs will be able to provide industrial customers with low priced, low carbon hydrogen and support the roll-out of hydrogen refueling stations in an economically viable way and move Australia and New Zealand closer to the goal of net-zero emissions.” Related links:https://www.coregas.com.au/https://hygear.com/https://www.xebecinc.com Media Inquiries:Public Relations for XebecVictor Henriquez, Senior Partnervictor@publicsc.com+1 514.377.1102 Investor Relations:Xebec Adsorption Inc.Brandon Chow, Director, Investor Relationsbchow@xebecinc.com+1 450.979.8700 ext 5762 About Coregas Pty LtdAs a Wesfarmers company, Coregas is the only Australian-owned gases company. Coregas services a wide range of industries and has a wealth of industrial gas experience and knowledge spanning over 40 years. The company manufactures gases locally and distributes throughout Australia and New Zealand via a network of branches and third parties. Products include industrial gases, medical gases and specialty gases in quantities ranging from single cylinders to bulk liquid tanks. Coregas is a leading producer of hydrogen, with distribution from its Port Kembla facility to customers across Australia, including supply partnerships with projects in the burgeoning hydrogen economy. For more information, coregas.com. About Xebec Adsorption Inc.Xebec is a global provider of clean energy solutions for renewable and low carbon gases used in energy, mobility and industry applications. The company specializes in deploying a portfolio of proprietary technologies for the distributed production of hydrogen, renewable natural gas, oxygen and nitrogen. By focusing on environmentally responsible gas generation, Xebec has helped thousands of customers around the world reduce their carbon footprints and operating costs. Headquartered in Québec, Canada, Xebec has a worldwide presence with five manufacturing facilities, eight Cleantech Service Centers and four sales offices spanning over four continents. Xebec trades on the Toronto Stock Exchange under the symbol (TSX: XBC). For more information, xebecinc.com. Cautionary Statement Neither Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock 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.
- Simply Wall St.
If You Had Bought Wesfarmers (ASX:WES) Shares A Year Ago You'd Have Earned 42% Returns
Wesfarmers Limited ( ASX:WES ) shareholders have seen the share price descend 10% over the month. But that doesn't...
