VANCOUVER, British Columbia and NEWPORT BEACH, Calif., Feb. 25, 2021 (GLOBE NEWSWIRE) -- Clean Power Capital Corp. (CSE: MOVE)(FWB: 2K6)(OTC: MOTNF) (“Clean Power” or the “Company” or "MOVE"). In light of the recent severe weather in Texas1 causing a strain on the electricity grid and other recent incidents of strain on electricity grids including in California, the Company wishes to highlight the electricity generating capability of the PowerTap modular unit technology. While designing its 3rd generation technology, PowerTap Hydrogen Fueling Corp. (PowerTap) recognized that electricity shortages may be present in key markets where it plans to install its hydrogen fueling stations.
While much less electricity is needed to produce blue hydrogen vs green hydrogen2, PowerTap recognized that electricity shortages may affect the operation of its fueling stations. To address this potential issue, PowerTap’s 3rd Generation Onsite Hydrogen fueling unit will have an industrial hydrogen fuel cell that can be used to turn excess hydrogen into electricity that can be used in various capacities including powering further hydrogen production or the rest of the gas/truck stop operations.
Kelley Owen, PowerTap’s Chief Operating Officer noted, “We have taken the patented 2nd generation PowerTap technology which is in use in private and public hydrogen fueling stations in the United States and enhanced the technology for the coming Hydrogen Highway.”
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.
Learn more about Clean Power by visiting our website at: https://cleanpower.capital/
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
PowerTap Contact
Raghu Kilambi
raghu@hydrogenfueling.co
PR Contact
Vito Palmeri
AMW PR
c: 347.471.4488 | o: 212.542.3146
vito@amwpr.com
Clean Power Contact
Joel Dumaresq info@cleanpower.capital
+1 (604) 687-2038
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. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by
the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur or be achieved. This press release contains forward-looking statements pertaining to, among other things, the timing and ability of the Company to complete any potential investments or acquisitions, if at all, and the timing thereof. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company and described in the forward- looking information contained in this press release.
Although the Company believes that the material factors, expectations and assumptions expressed in such forward- looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance.
The forward-looking information contained in this release is expressly qualified by the foregoing cautionary statements and is made as of the date of this release. Except as may be required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward- looking information to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.
1 https://www.usatoday.com/story/news/nation/2021/02/17/texas-power-grid-why-state-has-its-own-operated-ercot/6782380002/
2 https://www.iea.org/commentaries/the-clean-hydrogen-future-has-already-begun