Montreal and Brussels – May 13, 2020 / Eocycle Technologies Inc., manufacturer of certified high-performance midsize wind turbines, and XANT a manufacturer of midsize wind turbines for the microgrid and off-grid / remote markets, are pleased to announce that they have agreed to a merger under the Eocycle banner. Both brands will continue as before for the foreseeable future.

Following Eocycle’s multiple recent acquisitions in the medium and distributed wind markets, joining forces with XANT puts the company in a unique position in the global distributed energy market. These additional assets have transformed the company into a vertically integrated, international organization, which now offers seamless end-to-end renewable energy solutions. This includes everything from project development to turnkey construction and long-term asset operation.

“This merger will significantly increase Eocycle’s footprint in continental Europe, building on our existing capacity in Manchester, England” said Richard Legault, President & CEO at Eocycle Technologies Inc. “In accordance with our strategic plan, this has already led to new sales and tens of million dollars of EO25 and XANT-M turbine sales in our pipeline. This is on top of our presence in the US and Canada, and our network of dealers and resellers elsewhere in the world.”

In addition to his duties as President & CEO at Eocycle, Mr. Legault will now also act as Chairman, while Alex de Broe will carry on as CEO of XANT. Key stakeholders from both Eocycle and XANT will remain with the company post-merger as well.

The new company will offer customers a wider range of turbines, going from 25 kW right up to 100 kW. Customers can also expect more product and service improvements in the near term as a result of the merger. Supply chains will be integrated and components standardized in the near term, unlocking additional value for customers and investors alike.

 “Our products are perfectly complementary thanks to very similar wind turbine designs focusing on reliability without compromising performance.” said de Broe, adding “We’ll soon begin standardization of our two platforms, as well as groups of components, in order to maximize operational synergies in North America and in Europe.”

– 30 –

About Eocycle Technologies:

Founded in 2001, Eocycle this year celebrates 20 years of developing profitable and hassle-free wind turbine solutions. Our patented Transverse Flux Permanent Magnet (TFPM) generator technology allows us to produce more compact distributed wind turbines requiring fewer moving parts. They provide significantly more energy than competitor products at low rotational speeds, without the contribution of a gearbox.

Since 2013, the company has been managed by a team of seasoned managers coming from the mature large wind industry. Since then, Eocycle’s strategy has focused exclusivelly on developing the distributed energy market, where the EO25 wind turbine (25 kW) stands apart from the competition, in offering the best financial performance of the industry. For more visit eocycle.com.

About XANT:

XANT is a manufacturer of midsize wind turbines (100kW) for the remote off-grid markets, designed with microgrid applications in mind and a special focus on harsh operating conditions. They have Just Enough Essential Parts (JEEP!), fit in 40ft containers and can be erected without a crane. XANT turbines have the capability of active power curtailment and can be equipped with integrated energy storage to allow for a high penetration rate.

The easy maintenance, silent operation and low cost of ownership make XANT turbines ideally suited for wind power on remote locations or close to the consumer. For more visit XANT.com.