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Air Products Buys Advanced Adsorption Tech Assets From Xebec Adsorption

3/22/2012 2:34 PM ET

Air Products (APD: Quote) announced it has acquired advanced adsorption technology assets for its Generated Gases product lines from Xebec Adsorption, Inc. (XBC.TO: Quote).

In this acquisition, Air Products purchased the technology, intellectual property and know-how related to structured adsorbents, beaded adsorbents, and rotary valves from Xebec, a publicly-traded Canadian company specializing in adsorption technology headquartered in Blainville, Quebec, Canada. Air Products is not disclosing terms of the acquisition.

As part of this technology acquisition, Air Products will acquire more than 100 patents with significant focus on areas directly related to Air Products' existing business interests. Air Products also has acquired Xebec's technology center and testing facilities in Burnaby and Surrey, both located in British Columbia.

Terms of the deal also include a grant-back license to allow Xebec to continue to sell its systems, predominantly in the biogas, natural gas and associated gas purification markets.

In a separate press release, Xebec Adsorption announced that it has sold to Air Products its intellectual property portfolio, including the patents and patent applications relating to its gas separation technology. In this transaction, Xebec has also transferred ownership of its research & development facilities in Burnaby and Surrey, as well as other equipment located in British Columbia. As per the transaction, Xebec has received aggregate gross proceeds of C$8.60 million. The transaction is also subject to payments for the achievement of certain conditions to be met within the next 24 months.

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by RTT Staff Writer

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