PowerTap Hydrogen Capital (NEO: MOVE) (FWB: 2K6B) (OTC: MOTNF) has acquired a 49% ownership of AES-100 Inc, an investee of Aberdeen International Inc. (TSX: AAB) (FR: A8H) (OTC: AABVF). According to the announcement, Advanced Electrolyzer System (“AES”) is a novel electrochemical technology that selectively recovers high-purity hydrogen from dilute syngas streams. PowerTap intends to use the newly acquired tech in its work of installing hydrogen production and dispensing fueling infrastructure in the United States. The combined synergies of PowerTap and AES provide a more efficient, cost-effective and sustainable solution for the distribution and consumption of hydrogen across a variety of end uses, including for a growing fleet of hydrogen fuel-cell vehicles. The acquisition implies an $11 million increase in the value of Aberdeen’s investment in AES-100 Inc. over an estimated five-month period. In addition, Aberdeen gains PowerTap, along with its notable technical and financial resources, as a strategic partner to quicken commercialization of AES in global transportation applications. “PowerTap has affirmed the significant potential that we see in the AES technology to support the mass transition to clean energy,” said Aberdeen CEO Chris Younger in the press release. “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.”
To view the full press release, visit https://ibn.fm/lcQXW
About PowerTap Hydrogen Capital Corp.
PowerTap Hydrogen Capital Corp., through its subsidiary PowerTap Hydrogen Fueling Corp., is focused on installing hydrogen production and dispensing fueling infrastructure in the United States. PowerTap’s patented solution has been developed over 20 years. PowerTap is now commercializing its third-generation blue-hydrogen product that will focus on the refueling needs of the automotive and long-haul trucking markets that lack hydrogen fueling infrastructure. Currently fewer than 100 operational publicly available hydrogen stations exist in the United States, with most of those stations purchasing industrial hydrogen from industrial manufacturers and shipping hydrogen to individual stations via tanker trucks. For more information about the company, please visit www.CleanPower.Capital.
NOTE TO INVESTORS: The latest news and updates relating to MOTNF are available in the company’s newsroom at https://ibn.fm/MOTNF
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