Ivys Adsorption Inc (the “Company”), a Canadian corporation based in Quebec, has acquired substantially all of the assets of Xebec Adsorption Inc. (“Xebec”), based in Blainville, Quebec and its Ontario subsidiary Compressed Air International Inc. (“CAI”) as of February 24, 2023. As the new owner, the Company also acquired all of the intellectual property rights of Xebec Adsorption Inc. All employees who were offered positions at Xebec and CAI agreed to join the Company with a renewed focus on execution. This process was led by Ivys, Inc. a USbased clean fuel solutions provider for fleet applications.
Ivys Adsorption Inc. will continue to develop, produce and support its Xebec brand and CAI brand of innovative products and services for the clean technology and industrial gas markets.
As the Company has been approved by the Court as the buyer, you may also refer to the Assignment and Vesting Order dated February 17, 2023 (the “Order”). A copy of the Order and more information about Xebec and its proceedings under the Companies’ Creditors Arrangement Act (CCAA) are available on the website of Deloitte Restructuring Inc. (the “Monitor”) at https://www.insolvencies.deloitte.ca/Xebec.
Information on the CCAA proceedings may also be obtained by calling the Monitor at 514-393-6722 or toll free at 1-888-393-6722 and by email at [email protected].