Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Air Products Buys Advanced Adsorption Tech Assets From Xebec Adsorption

RELATED NEWS
Trade APD now with 

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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Consumers spent less in July than in the previous month, a surprise retreat that complicates the prevailing belief that the U.S. economic situation is improving. Along with the unexpected drop in spending, government figures released on Friday showed that incomes rose at a slower pace in July than in the previous month. Meanwhile, data on prices indicated that inflation pressures remain tame. India's economy grew faster-than-expected in the three months to June and at the strongest pace in two years, preliminary figures from the Central Statistics Office revealed Friday. Gross domestic product grew 5.7 percent in the April to June quarter, which exceeded economists' forecast for 5.5 percent expansion. The economy grew 4.6 percent in the previous three months. Eurozone inflation slowed as expected in August on falling energy prices giving room for the central bank to support demand and economic recovery without stoking inflation and help the region to create more jobs. The unemployment rate remained unchanged at an elevated level in July. Nonetheless, it was at the lowest since September 2012.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.