Aberdeen International (TSX:AAB) is acquiring 41.67 per cent of AES-100 Inc.
AES-100 Inc. has exclusive rights and all intellectual property pertaining to T2M Global’s Advanced Electrolyzer System (AES).
The AES allows production of low-cost hydrogen production with no greenhouse gas emissions.
T2M Global is the world’s leader in clean energy technology using hydrogen with zero carbon footprint and no 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 Aberdeen President and CEO Stan Bharti.
The company says AES is the only technology capable of producing high-purity green hydrogen at highly competitive costs.
AES targets less than five-dollars per kilogram, significantly lower than the current market level of around $10 per kilogram.
The company hopes the significant cost savings through AES will accelerate the adoption of hydrogen technology and promote growth of fuel cell vehicle and renewable energy sectors.
Aberdeen International is down 2.70 per cent on the day, with the company's shares trading at C$0.18 at 4:00 p.m. EST.