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Xebec Adsorption was a Canadian company trading as XBC on the Toronto exchange and available to American investors under the over the counter XEBEF symbol. Its products took the gas produced from digesting renewable raw waste sources and filtered it to create the usable methane (CH4) that we call (renewable) natural gas. The company over-extended in the U.S. and wound up declaring bankruptcy before it could realize any potential benefits from scaled back better. I continued to cover the stock as it traded over the counter under the symbol XEBEQ while private equity and lawyers siphoned off the remaining value at the expense of shareholders. It stands as a warning against reliance on governments for funding, responsible policy or adjudication when things badly.
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-7 | Xebec bankruptcy and more | 08:26 29-Sep-22 |