Mr. Gérard Mounier brings over 30 years of project finance experience in the renewable energy infrastructure sector
MONTREAL, Sept. 17, 2020 /GLOBE NEWSWIRE/ – GNR Québec Capital L.P. (“GNR Québec Capital”), an investment fund dedicated to increasing the conversion of waste into renewable natural gas (RNG) in the Province of Québec, is pleased to announce the appointment of Mr. Gérard Mounier as President and General Manager of GNR Québec Capital Management Inc.
Resulting from a partnership announced on June 1st between Xebec Adsorption Inc. (TSXV: XBC) (“Xebec”), a global provider of clean energy solutions, and the Fonds de solidarité FTQ (the “Fonds”), GNR Québec Capital is an innovative fund that provides developers and partners with access to capital and expertise to develop and operate facilities that treat and convert organic waste into renewable natural gas and biofertilizers.
“I am particularly proud to join the GNR Québec Capital team and thus contribute to the development of this new player in the renewable energy sector. Together, I am convinced that we will build an enterprise that will become an important growth driver in the renewable natural gas market in Québec,” says Gérard Mounier, President and General Manager of GNR Québec Capital Management Inc.
“Renewable natural gas will play a big role in the energy transition. As co-founders of GNR Québec Capital, we are thrilled to be able to count on Gérard Mounier’s long experience to help develop this sector in Québec,” said Christian G. Brosseau, the Fonds de solidarité FTQ’s Vice-President for Investments, Structuring Capital, Energy, and Environment.
“We are delighted to welcome Gérard to the management team of this new investment fund in Québec. His skills and professional experience in financing renewable energy projects and infrastructure will help accelerate the deployment of solutions to reduce Québec’s carbon footprint and promote the circular economy through better management of organic waste. GNR Québec Capital is a unique investment vehicle in Québec and Canada and Gérard is the right person to move this initiative forward,” said Kurt Sorschak, Chairman, CEO and President of Xebec.
A seasoned infrastructure executive
Prior to his appointment, Gérard Mounier was a strategic advisor for Infrastructure, Energy and Natural Resources and Co-Chair of the Infrastructure Group at Lavery, a major Québec law firm. In this capacity, he advised pension funds and multinational corporations in Canada on project financing in the fields of solar energy, wind energy, biomass and biofuels.
Previously, at Desjardins Capital Markets, he managed the financing of projects ranging from $20 million to $250 million. He was involved in 19 projects which contributed to the deployment of nearly $1 billion in capital. He has also held management positions at Laurentian Bank, BNP Paribas, Royal Bank of Canada and Crédit Lyonnais.
Gérard Mounier holds a master’s degree from the Institut Supérieur de Gestion in Paris. He is also a member of the Board of Directors of Nergica (an applied research center that stimulates innovation in renewable energy), the Infrastructure Council and the Cercle de la finance internationale de Montréal.
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About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a capital development fund that channels the savings of Québecers into investments. With net assets of $13.8 billion as at May 31, 2020, the Fonds has helped create and protect 221,267 jobs. The Fonds has 3,329 partner companies and 707,935 shareholders-savers.
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, Québec, 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, visit www.xebecinc.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements, and subject to risks and uncertainties. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “seeks”, “expects”, “estimates”, “intends”, “anticipates”, “believes”, “could”, “might”, “likely” or variations of such words, or statements that certain actions, events or results “may”, “will”, “could”, “would”, “might”, “will be taken”, “occur”, “be achieved” or other similar expressions. Forward-looking statements, including statements concerning future capital expenditures, revenues, expenses, earnings, economic performance, indebtedness, financial condition, losses and future prospects as well as the expectations of management of Xebec with respect to information regarding the business and the expansion and growth of Xebec operations, involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are subject to business and economic factors and uncertainties, and other factors that could cause actual results to differ materially from these forward-looking statements, including the relevant assumptions and risks factors set out in Xebec’s public documents, including in the most recent annual management discussion and analysis and annual information form, filed on SEDAR at www.sedar.com. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors include, among others, the uncertain and unpredictable condition of global economy, notably as a consequence of the Covid-19 pandemic, Xebec’s capacity to generate revenue growth, the ability of Xebec and the Fonds to identify additional partners, the ability of the partnership to raise additional capital investment, the development of the renewable gas market in Canada, the capacity for the partnership to identify valuable renewable gas projects to invest in, the ability of the partnership to contribute to the reduction of greenhouse gas emissions, price of raw material, Xebec’s capacity to meet all its other commitments and business plans, Xebec’s limited number of customers, the potential loss of key employees, share price volatility, and other factors. Although Xebec believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, Xebec disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.