News

Aberdeen International Diversifies Into Clean Energy Green Hydrogen Investments

By February 1, 2021 4   min read  (22 words)

February 1, 2021 |

Aberdeen International Diversifies Into Clean Energy Green Hydrogen Investments
  • Agreement to Acquire a Significant Interest in AES-100 Inc., the World’s Only Technology Capable of Producing High Purity Green Hydrogen at <$5/kg led by Pinakin Patel, one of the top Scientists in Clean Hydrogen Technology
  • AES-100 is the Sole Owner of the Intellectual Property Related to the Advanced Electrolyzer System (AES) Allowing low Cost Hydrogen Production With No Greenhouse gas Emissions

TORONTO — Aberdeen International Inc. (“Aberdeen” or the “Company”) (TSX: AAB) is pleased to announce it has entered into a definitive agreement to acquire 41.67% of AES-100 Inc. AES-100 Inc. has acquired exclusive rights and all intellectual property pertaining to T2M Global’s Advanced Electrolyzer System for the production of hydrogen from dilute syngas (the “Transaction”). T2M Global is the world’s leader in clean energy technology using hydrogen with zero carbon footprint and no greenhouse gas emissions. The technology is revolutionzing the use of fuel cells for transportation and is expected to be a major contributor to the world wide goal of zero carbon footprint by 2050, as recommended by the Paris Accord on Greenhouse Gas emissions.

“Greenhouse gases are the single major cause of pollution and planet global warming. Today the world produces over 27 billion tons of greenhouse gases per year. With the world’s population expected to grow to 10 billion by 2050, reduction of greenhouse gases and producing a clean energy footprint is critical to the survival of mankind”, said Stan Bharti, President and CEO of Aberdeen.

The Advanced Electrolyzer System (AES) is a world-class system created by T2M Global and assigned to AES-100 Inc. Its proprietary technology allows for much lower cost production of hydrogen with no greenhouse gas emissions. AES is the only technology capable of producing high purity green hydrogen at highly competitive costs. AES targets <$5/kg H2, a significant and material improvement from the $10-15/kg H2 levels currently in the marketplace.  This significant cost savings through AES should accelerate the adoption of hydrogen technology andpromote growth of fuel cell vehicle and renewable energy sectors.

Pinakin Patel, co-founder of T2M Global commented, “Currently dilute syngas is mostly wasted or underutilized because it is too expensive to upgrade to higher value hydrogen. AES converts this wasted resource to a profit center. AES is a highly modular technology for deployment in multiple market segments and phase capacity addition.. Preliminary estimates for the worldwide dilute syngas hydrogen market show it is valued at well over $50B/yr. Our world-class AES technology provides a foundation to capture a large portion of this market.”

T2M Global has put together a team of world-renowned experts in the hydrogen industry with over 300 years of relevant experience. This includes technology development, modular design for manufacturing and commercialization in multiple markets. The team’s experience in market responsive product development, cost reduction and service agreements will be available to AES-100 Inc. as it advances the AES technology. Most notably, the team includes:

Pinakin Patel (President) – World leader in hydrogen and fuel cell technologies with over 40 years of experience and 30+ patents. Has received over $500 million in R&D funding for development of projects worldwide. Recipient of prestigious awards from US-DOE, State of Connecticut, ASME, Electrochemical Society and others. Supported dozens of start-ups in alternate energy and associated supply chain development, including strategic alliance and funding development. Highly successful track record with multi-national sponsors, including BASF, Sempra, Exxon, Mitsubishi, Haldor Topsoe, EPRI, NASA, California State agencies, such as CARB and CEC, Canada-SDTC, and many others.

Dr. Ludwig Lipp (Vice President) – Lead project manager with deep expertise in fuel cells and hydrogen, with over 25 years of experience and 10+ patents. Secured over 25 million dollars in R&D funds. Recipient of the 2009 DOE Hydrogen Program R&D Award, in recognition of outstanding contributions to electrochemical hydrogen compression (EHC). Managed over a dozen interdisciplinary R&D projects and holds the world record for electrochemical hydrogen compression with 30,000 hours of operation.

Pursuant to the Transaction, Aberdeen shall invest $1,000,000 per year into AES-100 Inc. for a period of two years following the closing of the Transaction.

Closing of the Transaction to acquire 41.67% of AES-100 Inc. is subject to, among other things, compliance with all applicable regulatory requirements and receipts of all necessary regulatory, corporate, third-party, board and shareholder approvals, including the approval of the Toronto Stock Exchange. There can be no assurances that the Transaction will be completed as proposed, or at all. The Transaction is an arms-length transaction and no change in management or the board of directors of Aberdeen is contemplated.

ABOUT ABERDEEN INTERNATIONAL

Aberdeen International is a global resource investment company and merchant bank focused on small capitalization companies in the mining and metals and renewable energy sectors.

For additional information, please visit our website at www.aberdeeninternational.ca.

FuelCellsWorks

Author FuelCellsWorks

More posts by FuelCellsWorks
error: Alert: Content is protected !!