PowerTap Hydrogen Capital Corp. has acquired a 49% ownership stake in Aberdeen International Inc.’s AES-100 Inc.
AES is an electrochemical technology that selectively recovers high-purity hydrogen from dilute syngas streams. PowerTap is focused on installing hydrogen production and dispensing fueling infrastructure in the U.S.
The companies say they have technological synergies that can enable a more efficient, cost-effective and sustainable solution for the distribution and consumption of hydrogen across end uses, including 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,” says Chris Younger, CEO of Aberdeen. “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.”
Following the transaction, PowerTap and Aberdeen own 49 percent and 41.67 percent of AES-100 Inc., respectively, with the balance held privately.
