On February 7, 2023, Xebec Adsorption Inc. ("Xebec") announced the sale of two subsidiaries as part of its ongoing sale and investment solicitation process (SISP).

Sale of HyGear: Xebec sold its wholly owned subsidiary, Green Vision Holding B.V., the parent company of HyGear Technology and Services B.V. ("HyGear"), to Hydrogen Solutions B.V., an affiliate of HoSt Holding B.V. Osler, Hoskin & Harcourt LLP and Clifford Chance LLP served as Xebec's legal advisors for the sale, with National Bank Financial Inc. as the financial advisor. DLA Piper Nederland N.V. acted as the Dutch legal counsel for HoSt.

Sale of Applied Compression Systems Ltd.: Xebec also sold substantially all assets of its British Columbia-based subsidiary, Applied Compression Systems Ltd., to 1396905 B.C. Ltd. Osler, Hoskin & Harcourt LLP were the legal advisors for Xebec, with National Bank Financial Inc. again serving as the financial advisor. Spruce Notary & Legal provided counsel to the purchaser.

These transactions mark significant steps in Xebec's strategic efforts to optimize its portfolio and focus on core areas of sustainable gas solutions.