Aberdeen International (TSX: AAB) has seen a development on the green energy front. The firm this morning indicated that one of its portfolio companies, AES-100, is in the process of developing a green-hydrogen home power unit.
The device is being constructed as a “bridge” between excess green energy produced during the day (i.e. solar), and the shortage of green energy at night. The development is expected to “expedite green hydrogen as a viable fuel source.”
The device is being designed to leverage existing infrastructure, while enabling greater penetration of both wind and solar to push the green initiative. Naturally, the firm is to initially focus on the state of California, where excess green energy is produced.
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A short development timeline is expected for the units, which are to be just a few kilowatts in size. The device is expected to be on the market much quicker and with significantly less capital investment than comparable industrial units.
“As a major shareholder of AES-100, we like this fast-track approach to bring AES technology from research to reality sooner. It promises earlier return on our investment at lower risk. We are very excited to see an accelerated path to commercialization,” commented Chris Younger, CEO of Aberdeen on the development.
Aberdeen International last traded at $0.13 on the TSX.
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