Aberdeen International Inc. Is Pleased to Provide Corporate Updates Regarding AES-100 Inc.
Sole Owner of the Intellectual Property Related to the Advanced Electrolyzer System (AES) Allowing Low Cost Hydrogen Production With No Greenhouse Gas EmissionsTORONTO, March 03, 2021 - Aberdeen International Inc. ("Aberdeen" or the "Company") (TSX: AAB) is pleased to share some exciting updates regarding its recent acquisition, AES-100 Inc. (see press releases dated February 1, 2021 and February 11, 2021).
The Advanced Electrolyzer System (AES) is a world-class system created by the team led by Pinakin Patel at T2M Global. 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 market place. The significant cost savings through AES should accelerate the adoption of hydrogen technology in accelerating growth sectors such as the fuel cell vehicle and renewable energy sectors.
Updates:
- "Green Ammonia" - AES Technology has potentially unlocked ammonia as another method of hydrogen creation (https://www.t2mglobal.com/news). Pinakin Patel was the primary author, in conjunction with Venkat Pattabathula, formerly of Incitec Pivot, one of the largest ammonia producers in the world. Extensive infrastructure for ammonia can lead to lower cost hydrogen needed for transportation and stationary power. AES was used successfully to extract hydrogen from ammonia. The current ammonia market is about 200MM metric tons per year ($60 billion per year).
- Invited Talk at Nitrogen and Syngas International Conference: On March 1st, Pinakin Patel delivered a talk entitled "New Application of Ammonia: Fertilizer to Fuel". Ammonia is highly energy-dense carrier of hydrogen with a multitude of benefits. It is also carbon-free. Emerging use of ammonia as hydrogen carrier can potentially double the ammonia demand from 200 to 400 million metric tons per year. At $300 per ton of ammonia, this translates to an increase of $60 billion in new revenue for the ammonia industry. Building on existing infrastructure for ammonia will greatly benefit the emerging hydrogen fuel cell industry. A small ammonia plant producing about 1000 tons of ammonia per day can provide hydrogen for over 3000 trucks every day. AES technology is expected to play a significant role in this multi-billion-dollar Fertilizer to Fuel application.
(https://events.crugroup.com/nitrogenandsyngas/speakers)
ABOUT ABERDEEN INTERNATIONAL
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.
For additional information, please visit our website at www.aberdeeninternational.ca.
For further information, please contact:
Ryan Ptolemy
Chief Financial Officer
Aberdeen International Inc.
ryanp@fmfinancialgroup.com
+1 416-861-5882
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding: the merits and applications of the AES technology; the potential cost savings and cost advantages of the AES technology; the renewable energy sectors, including hydrogen and the Company'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.aberdeeninternational.com. 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.