Aberdeen International (TSX:AAB, F:A8H) and AES-100 Inc. Identify Nuclear Plants as Additional Market Potential for Its Hydrogen Production
TORONTO, April 08, 2021 (GLOBE NEWSWIRE) — Aberdeen International Inc. (“Aberdeen” or the “Company”) (TSX: AAB F: A8H) is pleased to share an update regarding its recent acquisition, AES-100 Inc. (see press releases dated February 1, 2021, February 11, 2021, March 3, 2021 and March 10, 2021).
AES-100 Inc. is currently investigating whether hydrogen production could, under the right conditions, offer a solution to U.S. and European nuclear reactors from retiring early as well as support newer reactors to run at their highest efficiency.
While nuclear energy supplies 19% of the energy consumed in the US and about 25% in the European Union, many nuclear power plants find it hard to compete with cheaper natural gas and renewable energy generation, later being often subsidized by government programs.
Nuclear plants appear to be a perfect component to produce green hydrogen, while ensuring the nuclear plants power output to be stable and therefore maximizing efficiency. Excess electricity and steam produced by the nuclear reactor could be used to produce hydrogen in times when a reactor would have to be tuned down due to less demand from the grid.
The European Union imports 55% of its energy ($350 billion) and has a goal to cut its GHG emissions to 40% below 1990 levels. Therefore, nuclear power will remain an important part of Europe’s Green Energy output and could transform into a major piece in the hydrogen strategy. AES-100 Inc. will continue to investigate opportunities and markets for hydrogen.
ABOUT AES-100 INC.
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.
ABOUT ABERDEEN INTERNATIONAL INC.
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.aberdeen.green/
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 potential uses and benefits of hydrogen in the nuclear energy sector; 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.aberdeen.green/. 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.