Xebec Announces Appointment of Chief Financial Officer

- Stéphane Archambault will replace Louis Dufour as he enters retirement -

MONTREAL, Nov. 10, 2020 (GLOBE NEWSWIRE) -- Xebec Adsorption Inc. (TSXV: XBC) (“Xebec”), a global provider of clean energy solutions, is pleased to announce that effective immediately, Stéphane Archambault has been appointed as Chief Financial Officer (“CFO”). Mr. Archambault will succeed Louis Dufour, who will step down as CFO after four years at Xebec. Mr. Dufour will stay on in an advisory capacity until December 31^st, 2020 to ensure a seamless transition.

“Louis joined our team during a transition period where Xebec was entering its rapid growth phase and starting to realize its potential as a renewable gas company. He was instrumental in helping build a robust organization to support our aggressive growth all while ensuring this was recognized in the markets. On behalf of the Board and management team, I would like to give a heartfelt thank you to Louis for his contributions to the success of Xebec over his tenure. I wish him a happy retirement and appreciate his commitment to ensuring a successful transition for Mr. Archambault throughout his onboarding,” stated Kurt Sorschak, Chairman, CEO and President of Xebec Adsorption Inc.

"I am proud of what we have accomplished as a team during my tenure with Xebec and it has been an honour to be part of this emerging Canadian cleantech story. The company has evolved significantly since I started, and I am happy to be leaving it in the hands of Stéphane. I have great confidence in Stéphane’s ability to continue the company’s mission as Xebec enters its next period of growth,” said Louis Dufour.

Mr. Archambault brings over two decades worth of experience as a finance executive with success in leading finance teams at two publicly listed TSX companies (CAE and Prometic Life Sciences), a strong track record in M&A (involved in transactions totaling more than $400M) and can foster an entrepreneurial spirit within a growing global business.

Mr. Archambault is a CPA, CMA and a graduate of Concordia University from its Executive CMA Accounting program, where he also obtained a Bachelor of Commerce with a major in Finance.

Related links:
https://www.xebecinc.com

For more information:
Xebec Adsorption Inc.
Brandon Chow, Investor Relations Manager
[e-mail]
+1 450.979.8700 ext 5762

About Xebec Adsorption Inc.
Xebec is a global provider of gas generation, purification and filtration solutions for the industrial, energy and renewables marketplace. Well-positioned in the energy transition space with proprietary technologies that transform raw gases into clean sources of renewable energy, Xebec’s 1500+ customers range from small to multi-national corporations, governments and municipalities looking to reduce their carbon footprints. Headquartered in Montréal, Quebec, Canada, Xebec has several Sales and Support offices in North America and Europe, as well as two manufacturing facilities in Montréal and Shanghai. Xebec trades on the TSX Venture Exchange under the symbol XBC. For more information, www.xebecinc.com.