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XEBEF

Xebec Adsorption

$0.00 /

+ (+0.00%)

09:34
08/10/20
08/10
09:34
08/10/20
09:34

Xebec Adsorption announces partnership with CarbonQuest

Xebec Adsorption signed an exclusive partnership agreement with CarbonQuest to reduce carbon emissions in New York City buildings. Xebec's CO2 separation technology, specifically designed for this application, will be integrated into CarbonQuest's Building Carbon CaptureTM system. CarbonQuest has developed a patent pending "4-Step Carbon Capture Process" which enables the separation and liquefaction of CO2 from natural gas. The captured Sustainable CO2TM will be sequestered or used in manufacturing or other industry. This partnership will bring a timely and cost-effective solution for property owners looking to meet their sustainability goals and reduce their exposure to the new Local Law 97 regulation. As a result, the partnership opens significant market opportunities for Xebec's advanced CO2 capture technologies through CarbonQuest's process. In April 2019, the New York City Council passed the Climate Mobilization Act, which included a provision that limits greenhouse gas emissions from buildings over 25,000 square feet. Intro 1253 became Local Law 97 in May 2019, and now covers approximately 60,000 NYC buildings. Emissions reduction goals are 40% by 2030 and 80% by 2050, benchmarked against 2005 levels. The limits have been set in three phases for 2024-2029, 2030-2034 and 2035-2050 and are measured in kilograms of CO2 equivalent per square foot. Any emissions above the limits will result in penalties which are set to progress in severity over time. The first Carbon Capture unit will be installed at a multifamily property in Manhattan with a well-respected property owner. The project is expected to cut 60-70% of CO2 emissions from natural gas usage. The estimated reduction in overall annual CO2 emissions will be 25% and is based on the combined carbon intensity of the building's annual natural gas and electricity usage. The carbon capture process is expected to reduce the building's carbon emissions such that the building is expected to be below the annual emissions limit.

XEBEF Xebec Adsorption
$0.00 /

+ (+0.00%)

06/02/20 Stifel
Xebec Adsorption price target raised to C$5.30 from C$4.80 at Stifel
04/13/20 Craig-Hallum
Xebec Adsorption initiated with a Buy at Craig-Hallum

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    • 22
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    04/15/20 Oppenheimer
    Conn's downgraded to Perform from Outperform at Oppenheimer
    CONN Conn's
    $21.35 /

    -0.3 (-1.39%)

    CONN Conn's
    $21.35 /

    -0.3 (-1.39%)

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