Ivys, Inc. Announces Purchase of Compressed Air International Inc.

Ivys, Inc., a leading provider of e-mobility fueling infrastructure solutions, announces that on February 24th it along with strategic financial partners completed the acquisition of the climate-tech and industrial businesses including all the intellectual property of Xebec Adsorption Inc. and subsidiary Compressed Air International Inc., renewing its mission to provide innovative and reliable renewable gas solutions to our customers worldwide.

The acquisition was completed through the formation of Ivys Adsorption Inc., a Canadian-based company that will maintain operations in Blainville, Québec and two locations in Ontario. The businesses acquired by Ivys Adsorption Inc. will enable the company to serve the renewable natural gas, hydrogen, carbon capture and industrial gas markets and establish a strong foundation for continued innovation that is needed to address the pressing issue of climate change with sustainable, and equitable growth.

The acquisition was led by Ivys, Inc. and Enbridge. Enbridge has been an early investor in renewable energy as evidenced by Enbridge Inc.’s $8 billion renewable portfolio and is committed to finding new ways to address the environmental impact of energy systems while maintaining and expanding access to affordable and reliable energy. Meeting this dual challenge means finding and pursuing multiple pathways in providing affordable and reliable energy while protecting our environment.

“Having Enbridge, an industry leader in energy transition, as a key shareholder is an endorsement of the capabilities of the team and the product portfolio. I am humbled and encouraged by the strong support we have received from both customers and suppliers and look forward to strengthening these relationships” – Prabhu Rao, President and CEO of Ivys Adsorption inc.

“Ivys and Enbridge share a common focus on unlocking opportunities for growth in the renewable energy space. This investment is a good strategic fit with our diversified energy portfolio as Enbridge continues to advance dependable and sustainable energy solutions including low-emission gases and carbon capture.” – Brad DeMaeyer, Technical Manager, Low Carbon Energies, Enbridge.

“The Xebec and CAI brands of products, service and technology have gained worldwide recognition over the decades with historic roots in Canada and strong

North American collaboration. We are proud to maintain this heritage and excited to further build a robust product innovation, manufacturing and service team here in the Québec and Ontario provinces. Our strategic collaboration with Enbridge in this acquisition uniquely positions the Ivys groups with astounding access to the most compelling portfolio of products, technologies and competencies around to tackle the universal challenge of climate change.” – Darryl Pollica, President & CEO of Ivys, Inc. (dba Ivys Energy Solutions)