REPEAT -- Leading Green Hydrogen Company, AES-100 Inc., Achieves First Major Milestone And On-Track for Accelerated Commercial Development of Home Power Unit
Aberdeen International Inc. (“Aberdeen
” or the
“Company”) (TSX: AAB) (F: A8H) (OTC: AABVF) is pleased to announce
that its portfolio company, AES-100 Inc.
”), a leading clean hydrogen technology
company, has received two of its latest production cells. These
cells are at the heart of the AES home power unit enabling the
production of hydrogen and ultimately electricity at unprecedented
efficiencies, while also providing resilience to common inert gases
that are a problem for other hydrogen technologies.
With announcements coming from the largest gas
utilities in the world, AES-100 technology for the consumer is
being prioritized at an expedited rate to meet the market need.
With more than 14 million homes in California1 alone, a state where
green energy is routinely curtailed, the domestic market
opportunity is significant.
“Although the number varies, the average
American home uses ~30 kWh per day2. AES technology and design is
being developed and tested at variable rates over 70 kWh per day.
With testing at this scale, the home power unit is set for
application at homes small and large alike. We are excited to be
testing at rates meeting the needs for commercial application,”
said Channce Fuller, CEO of AES-100 Inc.
Utility companies around the globe are
positioning themselves to repurpose billions of dollars in
infrastructure to enable the hydrogen economy of the future. Using
a recent announcement in the Netherlands as a case in point,
government revenue from natural gas has fallen from 10.7 billion
euros to only 140 million euros in 2020 over just 10 years, as the
government pushes for a transition to hydrogen away from fossil
fuels.3 This change, happening across the globe, is an opportunity
for hydrogen storage in the pipelines, followed by extraction and
conversion to power the homes of the future.
“Annual estimates for green hydrogen sales now
exceed $700 billion by 2050.3 With demand that significant,
hydrogen technologies around the globe will have to work
synergistically to meet the growing need. With the new production
cells in-hand at our development partner’s facility, AES-100 Inc.
is increasingly well positioned to meet the market need,” added Mr.
As testing and validation continues, the Company
will continue to keep the market updated on the achievement of
additional key development milestones of AES-100.
ABOUT AES-100 Inc.
AES-100 Inc. is a venture stage green technology company focused
on the development of novel hydrogen generation and separation
technologies. AES owns the exclusive rights and intellectual
property pertaining to the AES technology for the production of
AES-100 Inc. is a private company with ownership held by
PowerTap Hydrogen Capital Corp. (NEO: MOVE) (FWB:2K6B) (OTC: MOTNF)
and by Aberdeen International (TSX: AAB) (F: A8H) (OTC:
AABVF) with remainder of ownership being privately held.
ABOUT ABERDEEN INTERNATIONAL INC.
Aberdeen International is a global resource
investment company and merchant bank focused on small
capitalization companies in the rare metals and renewable energy
sectors. AES-100 Inc., an Aberdeen portfolio investment, owns the
exclusive rights and all intellectual property pertaining to the
Advanced Electrolyzer System (AES) for the production of hydrogen
from dilute syngas.
For additional information, please visit our
website at www.aberdeen.green
For further information, please contact:
Chris Younger Chief Executive Officer Aberdeen
International Inc. Chris.Younger@aberdeen.green(416) 861-1685
This press release contains "forward-looking
information" within the meaning of applicable Canadian securities
legislation. Forward-looking information includes, without
limitation, statements regarding AES-100; the AES technology and
its efficiency at producing hydrogen; the receipt and effectiveness
of the two production cells; the renewable energies sector and the
Company’s and AES-100’s future plans. Forward-looking information
is subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity,
performance or achievements of the Company to be materially
different from those expressed or implied by such forward-looking
information, including risks inherent in the mining industry and
risks described in the public disclosure of the Company which is
available under the profile of the Company on SEDAR at
www.sedar.com and on the Company's website at www.aberdeen.green.
Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such information will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking information. The Company does not undertake to
update any forward-looking information, except in accordance with
applicable securities laws.
- United States Census Bureau – Data for 2019
- US Energy Information Administration – Data for 2020
- Fuel Cell Words – January 2022
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