GNR Québec Capital names Mounier as president and GM

GNR Québec Capital, a fund that invests in projects that convert waste into renewable natural gas, has appointed Gérard Mounier as its president and general manager. GNR Québec Capital was launched earlier this year by Xebec Adsorption and Fonds de solidarité FTQ.

PRESS RELEASE

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 Quebec 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 Quebec 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 Quebec,” says Gérard Mounier, President and General Manager of GNR Quebec 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 Quebec Capital is a unique investment vehicle in Quebec 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 Quebec 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.

About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a capital development fund that channels the savings of Quebecers 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, Quebec, 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.