Clean Power Provides Update on the Development of Its PowerTap Investment
December 01 2020 - 12:01AM
Clean Power Capital Corp. (CSE:
MOVE)(FWB: 2K6)(OTC: MOTNF) (“Clean
Power” or the
“Company” or
“MOVE”). The Company is pleased to provide an
update on the activities of PowerTap Hydrogen Fueling Corp.
(“PowerTap”), the company’s previously announced investment.
PowerTap is in the process of completing its 3rd generation design
of its patented onsite hydrogen production and dispensing
technology for the North American hydrogen vehicle market.
As PowerTap looks to roll out the 3rd generation
of its onsite hydrogen production and dispensing technology for
hydrogen trucks and cars, PowerTap believes that its new modular
design of the units has distinct advantages over the previous two
generations of PowerTap units installed in the United States and
other hydrogen fueling technologies. These improvements and
advantages include:
- The modular design allows for
the station to be fully assembled and tested prior to
delivery. The modular design also allows for the selection of
already operating sites that have suitable zoning permits for
installation and operation.
- This allows for stations to go live
within weeks versus months or years.
- Other competitive stations are
built from scratch onsite leading to multi-year construction
projects and increased needed zoning approvals.
- The modular design allows
for Underwriters Laboratories UL approval, greatly reducing
the number of onsite inspections by third parties.
- The modular design allows for
future upgrades in capacity and storage to an existing station to
grow as market demand grows.
- The modular design allows the
stations to be mass produced, critical to building out a large
infrastructure near term.
- The modular design bypasses city
planning processes, as the stations come fully assembled and only
require a pad and Compressed Natural Gas (CNG)/Renewable Natural
Gas (RNG) feedstock brought to the site.
- The modular design is capable of
supporting other new technologies for hydrogen production (when
green hydrogen becomes economical) as all other modules are
independent of the fuel processing module allowing PowerTap to
upgrade its technology onsite in the future.
- The modular design allows for the
station to be relocated if necessary, which further extends the
life of the asset and its value.
- The PowerTap modular size and
design is less than half the size of the closest competitor.
- The modular design creates
additional intellectual property owned by PowerTap in addition to
PowerTap’s current 20+ global patent portfolio.
“PowerTap’s patented, onsite blue hydrogen
generating fuel station technology is the right solution for
today’s lack of hydrogen fueling infrastructure. PowerTap plans to
roll out hydrogen fueling stations to meet the USA’s public
hydrogen fueling station increased demand. Our new modular design
will allow us to deploy our stations rapidly starting in 2021,”
noted Kelley Owen, Chief Operating Officer of PowerTap.
About PowerTap
The Company invested in PowerTap on October 27,
2020 (see the Company’s news release on October 28, 2020). PowerTap
is leading the charge to build out cost-effective hydrogen fueling
infrastructure through its environmentally friendly intellectual
property, product design for the modularized and lowest tier
production cost of hydrogen, and launch plan. PowerTap
technology-based hydrogen fueling stations are located in private
enterprises and public stations (near LAX airport) in California,
Texas, Massachusetts, and Maryland. Additional information about
PowerTap and the Hydrogen Industry may be found at its website at
http://www.powertapfuels.com.
ABOUT CLEAN POWER CAPITAL
CORP.
Clean Power is an investment company, that
specializes in investing into private and public companies
opportunistically that may be engaged in a variety of industries,
with a current focus in the health and renewable energy industries.
In particular, the investment mandate is focused on high return
investment opportunities, the ability to achieve a reasonable rate
of capital appreciation and to seek liquidity in our investments. A
copy of Clean Power’s amended and restated investment policy may be
found under the Company’s profile at www.sedar.com.
ON BEHALF OF THE CLEAN POWER CAPITAL
CORP. BOARD OF DIRECTORS
“Joel Dumaresq”
Joel Dumaresq CEO+1 (604) 687-2038info@cleanpower.capital
Learn more about Clean Power by visiting our website at:
https://cleanpower.capital/
THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
Notice Regarding Forward Looking
Information:
This press release contains “forward-looking
statements” or “forward-looking information” (collectively referred
to herein as “forward-looking statements”) within the meaning of
applicable securities legislation. Such forward-looking statements
include, without limitation, forecasts, estimates, expectations and
objectives for future operations that are subject to a number of
assumptions, risks and uncertainties, many of which are beyond the
control of Clean Power. Some assumptions include, without
limitation, the development of hydrogen powered vehicles by vehicle
makers, the adoption of hydrogen powered vehicles by the market,
legislation and regulations favoring the use of hydrogen as an
alternative energy source, the Company’s ability to build out its
planned hydrogen fueling station network, and the Company’s ability
to raise sufficient funds to fund its business plan.
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factors, expectations and assumptions expressed in such forward-
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given as to future results, levels of activity and achievements and
such statements are not guarantees of future performance.
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