Aberdeen International Inc (TSX: AAB) announced that it has entered into a definitive agreement to acquire 41.67 per cent 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.
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 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 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. – BusinessNewsCanada.com
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