Xebec Adsorption Inc. has acquired all the outstanding shares of Colorado-based UECompression (producer of custom air and gas compressor solutions).
The acquisition will provide Xebec with a cost-effective and timely pathway towards expanding production capacity five-fold for standardised renewable gas systems while supporting UEC’s legacy business as the operation continues its energy transition.
The total consideration for the acquisition of the outstanding shares of UEC is US$ 8 million and is subject to certain holdbacks and adjustments. On a standalone basis, UEC is expected to have unaudited revenues of US$ 35 million for 2021. Xebec expects to see significant growth for this operation over the coming years.
Xebec can use UEC’s excess capacity to produce about 150 to 190 containerised BGX Biostream biogas upgrading and Hy.GEN hydrogen units annually in North America.
In addition, Xebec’s global manufacturing footprint is further optimised by bringing European gas generation products such as Hy.GEN to the U.S. and focuses UEC’s facility on containerised and skid-mounted renewable energy systems.
Kurt Sorschak, Chairman of Xebec Adsorption Inc, said, “With this acquisition, we are responding to the accelerating energy transition and the associated interest in containerised RNG and hydrogen systems.”
In a separate development, Hexagon Composites today (4th November) has opened a new commercial centre in Munich, Germany. It is located close to Europe’s largest auto producers, major European original equipment manufacturers (OEMs) and fleet operators. The purpose of the centre is to enhance further customer intimacy with in-market resources in application engineering and aftermarket support. The centre will facilitate a broad portfolio, including Hexagon Purus’ hydrogen and battery electric vehicle solutions. The expansion is in line with the company European manufacturing facility in Kassel and the recent acquisition of Wystrach GmbH.