GlobeNewswire – Thu Feb 11, 6:30AM CST
Aberdeen International Inc. (“Aberdeen” or the “Company”) (TSX:AAB.TO) is pleased to announce it has closed a transaction to acquire 41.67% of AES-100 Inc., first announced on February 1, 2021.
Aberdeen issued a total of 25 million common shares to the shareholders of AES-100 Inc. in exchange for a 41.67% equity interest in AES-100 Inc. No finder fees were paid in connection with, and no change of control of Aberdeen resulted from, the transaction.
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 revolutionizing 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.
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. The significant cost savings through AES should accelerate the adoption of hydrogen technology in accelerating growth sector such as the fuel cell vehicle and renewable energy sectors.
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:
Chief Financial Officer
Aberdeen International Inc.
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding: the acquisition by Aberdeen of 41.67% of AES-100 Inc.; 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.