Mr. Ryan Ptolemy reports
ABERDEEN INTERNATIONAL DIVERSIFIES INTO CLEAN ENERGY INVESTMENTS WITH 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
Aberdeen International Inc. has entered into a definitive agreement to acquire 41.67 per cent of AES-100 Inc. AES-100 has acquired exclusive rights and all intellectual property pertaining to T2M Global's advanced electrolyzer system for the production of hydrogen from dilute syngas. 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 worldwide 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 tonnes 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 chief executive officer of Aberdeen.
The advanced electrolyzer system (AES) is a world-class system created by T2M Global and assigned to AES-100. 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 less than $5 per kilogram hydrogen gas (H2), a significant and material improvement from the $10-to-$15-per-kilogram-H2 levels currently in the marketplace. These significant cost savings through AES should accelerate the adoption of hydrogen technology and promote 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 centre. 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 $50-billion per year. 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 as it advances the AES technology. Most notably, the team includes the following.
Pinakin Patel (president) -- world leader in hydrogen and fuel cell technologies with over 40 years of experience and over 30 patents. He has received over $500-million in research and development funding for development of projects worldwide. He is recipient of prestigious awards from US-DOE, Connecticut, ASME, Electrochemical Society and others. He has supported dozens of start-ups in alternate energy and associated supply chain development, including strategic alliance and funding development. he has a highly successful record with multinational 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 over 10 patents. He secured over 25 million dollars in research and development funds. He is recipient of the 2009 DOE Hydrogen Program R&D Award, in recognition of outstanding contributions to electrochemical hydrogen compression (EHC). he managed over a dozen interdisciplinary research and development projects and holds the world record for electrochemical hydrogen compression with 30,000 hours of operation.
Pursuant to the transaction, Aberdeen shall invest $1-million per year into AES-100 for a period of two years following the closing of the transaction.
Closing of the transaction to acquire 41.67 per cent of AES-100 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 arm's-length transaction and no change in management or the board of directors of Aberdeen is contemplated.
About Aberdeen International Inc.
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.
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