Aberdeen International Inc., a Canadain investment company and merchant bank, has entered into a definitive agreement to acquire 41.67% of AES-100 Inc. It will invest $2 million in the company over the two years following the deal’s closing.
The Advanced Electrolyser System (AES) is a system developed by T2M Global. AES-100 Inc. has acquired exclusive rights and all intellectual property related to T2M Global’s AES to produce hydrogen from dilute syngas. The technology is claimed to produce hydrogen at comparatively lower costs with no greenhouse gas emissions. The technology can be used in various end-user sectors.
AES cites that the worldwide dilute syngas hydrogen market is assessed at around $50 billion per year, and it aims to capture a large portion of this market. The technology would produce hydrogen below $5/kg H2, which it claims to be lower than the current market rates. The company stated that the current market rate is $10-15/kg H2.
Aberdeen expects that the cost savings through AES should accelerate hydrogen technology’s adoption and help support the fuel cell vehicle market.
Pinakin Patel, the co-founder of T2M Global, said, “Currently dilute syngas is mostly wasted or underutilised because it is too expensive to upgrade to higher-value hydrogen. AES converts this wasted resource to a profit centre.”