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Aberdeen International: PowerTap Hydrogen Capital Corp. Acquires 49% of AES-100 Inc. to Accelerate Application of the Advanced Electrolyzer System in Hydrogen Refueling Infrastructure
PowerTap Hydrogen Capital Corp. (PowerTap) acquisition implies ~200% return on Aberdeen’s investment in AES-100 Inc. over an approximate five month period Aberd
About this update from Aberdeen International Inc.
[{"type":"text","content":" PowerTap Hydrogen Capital Corp. (PowerTap) acquisition implies ~200% return on Aberdeen’s investment in AES-100 Inc. over an approximate five month period Aberdeen gains strategic partner to accelerate commercialization of the Advanced Electrolyzer System (AES) in global transportation applications PowerTap brings significant technical and financial resources to support commercialization of the AES technology TORONTO, July 28, 2021 (GLOBE NEWSWIRE) -- Aberdeen International Inc. (“Aberdeen” or the “Company”) (TSX: AAB F: A8H, OTC: AABVF) is pleased to inform that PowerTap Hydrogen Capital Corp. (NEO: MOVE) (FWB:2K6B) (OTC: MOTNF) (“PowerTap”) has acquired a 49% ownership stake in Aberdeen investee, AES-100 Inc. AES is a novel electrochemical technology that selectively recovers high purity hydrogen from dilute syngas streams. PowerTap is focused on installing hydrogen production and dispensing fuelling infrastructure in the United States, leveraging their patented hydrogen production system. AES and PowerTap have technological synergies that can enable a more efficient, cost-effective and sustainable solution for the distribution and consumption of hydrogen across a breadth of end uses – notably, for a growing fleet of hydrogen fuel cell vehicles. “PowerTap has affirmed the significant potential that we see in the AES technology to support the mass transition to clean energy. We are thrilled at the prospect of an AES-PowerTap technology integration and a partner that can help accelerate development of a large, consumer-oriented use case for AES,” said Chris Younger, CEO of Aberdeen. Following the transaction, PowerTap and Aberdeen own 49% and 41.67% of AES-100 Inc., respectively, with the balance held privately. The PowerTap transaction implies an $11M increase in the value of Aberdeen’s investment, reflecting a ~200% return on invested capital over the course of approximately five months. For details of the PowerTap transaction please see https://www.globenewswire.com/news-release/2021/07/27/2269304/0/en/REPEAT-PowerTap-Acquires-49-of-AES-100-Inc-a-Green-Hydrogen-Technology-Company-Focused-on-Fuel-Cells-for-the-Transportation-Industry.html 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 renew...