Accelerated Commercial Development Green Hydrogen Solution - Aberdeen International Inc. investee, AES-100 Inc. (a leading clean hydrogen technology company) to develop transformational direct-to-consumer green hydrogen power unit for the common American home
- AES technology positioned to save government and municipalities billions in infrastructure spend
- Anticipated development timeline to be approximately 50% of industrial sized application leading to expedited commercialization
TORONTO, Jan. 10, 2022 (GLOBE NEWSWIRE) -- Aberdeen International Inc. (“Aberdeen” or the “Company”) (TSX: AAB F: A8H, OTC: AABVF) is pleased to announce that its portfolio company, AES-100 Inc. (“AES”), a leading clean hydrogen technology company, has initiated design and development activities for a green-hydrogen home power unit. This unit is being sized for applications to meet the needs of average North American households, revolutionizing green power production. The global addressable market for hydrogen is estimated to be approximately US$150 billion at present but is estimated to reach over US$600 billion by 2050.1 With nearly 140 million homes in the United States2 alone, the market opportunity is huge and transformative.
AES will initially focus on commercialization in states such as California with excess green electricity that is routinely curtailed. This curtailment is expensive to ratepayers. This wasted green electricity could otherwise mitigate the need for fossil-fueled energy that generates harmful greenhouse gases. The AES technology provides a bridge between the day-time excess green electricity and the evening-time shortage, when solar energy is not available. This beneficial deployment of the AES technology for home power will expedite green hydrogen as a viable fuel source, while stabilizing the power grid to permit greater penetration of renewables such as solar and wind. It is designed to leverage existing infrastructure, while saving billions in taxpayer investment, making it a win/win for both the government and public alike.
The home power unit is much smaller - typically a few kilowatts (kW) in size. It does not require extensive scaleup efforts that are needed for larger units for industrial applications in megawatt (MW) size. AES anticipates a much shorter development timeline for the home power unit, approximately 50% of the industrial sized AES units. This means that AES units offering green hydrogen to the home can be in the market sooner and with much lower capital investment. It will begin its beneficial contributions in solving the world’s pressing climate change problems sooner, and will also provide a valuable foundation for larger size industrial applications with a reduced risk for associated capital investment.
“As a major shareholder of AES-100, we like this fast-track approach to bring AES technology from research to reality sooner. It promises earlier return on our investment at lower risk. We are very excited to see an accelerated path to commercialization,” said Mr. Younger, CEO of Aberdeen.
As prototyping and validation testing advance, the company will continue to keep the market updated on the achievement of key development milestones.
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 hydrogen.
AES-100 Inc. is a private company with 49% ownership held by PowerTap Hydrogen Capital Corp. (NEO: MOVE) (FWB:2K6B) (OTC: MOTNF) and 41.67% 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-100) for the production of hydrogen from dilute syngas.
For additional information, please visit our website at www.aberdeen.green
https://www.globenewswire.com/news-release/2022/01/10/2363567/0/en/Aberdeen-International-Inc-TSX-AAB-FR-A8H-OTC-AABVF-Investee-AES-100-Inc-Reports-Accelerated-Commercial-Development-of-Green-Hydrogen-Solution.html