Xebec Announces $113.5M Order for CO2 Capture and Sequestration Equipment with Summit Carbon Solutions
April 12, 2022 – Xebec Adsorption Inc. (TSX: XBC) (“Xebec”), a global provider of sustainable gas technologies, is pleased to announce today that its subsidiary Xebec Systems USA LLC, has signed a contract valued at USD113.5 million (CAD143.2 million) with Iowa-based SCS Carbon Removal LLC, a subsidiary of Summit Carbon Solutions. The contract follows a previously announced MOU signed on March 28, 2022, for 51 carbon dioxide (CO2) reciprocating compression packages. This equipment will be used for Summit Carbon Solutions’ proposed carbon capture and sequestration project, which is expected to be the largest in the world if approved. Furthermore, this contract represents the largest in order value the company has received to date and showcases Xebec’s expanding technology portfolio for carbon capture and sequestration.
“We are pleased to be a key supplier to Summit Carbon Solutions’ project for decarbonization,” stated Jim Vounassis, President and CEO of Xebec Adsorption Inc. “With this important order, we look forward to helping bring this CO2 pipeline to fruition and playing our continued part in the global energy transition,” he added.
The equipment will be manufactured at Xebec Systems USA’s (formerly UECompression) Colorado facility.