Mr. Ryan Ptolemy reports
ABERDEEN INTERNATIONAL CLOSES TRANSACTION TO ACQUIRE A 41.67% INTEREST IN AES-100 INC., THE WORLDA 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 TECHNOLOHY
Aberdeen International Inc. has closed a transaction to acquire 41.67 per cent of AES-100 Inc., first announced on Feb. 1, 2021.
Aberdeen issued a total of 25 million common shares to the shareholders of AES-100 Inc. in exchange for a 41.67-per-cent equity interest in AES-100 Inc. No finder fees were paid in connection with, and no change of control of Aberdeen resulted from, the transaction.
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. 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 revolutionizing 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.
The advanced electrolyzer system 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 less than $5 per kilogram H2, a significant and material improvement from the $10 to $15 per kg H2 levels currently in the marketplace. The significant cost savings through AES should accelerate the adoption of hydrogen technology in accelerating growth sector such as the fuel cell vehicle and renewable energy sectors.
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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