VANCOUVER, British Columbia and NEWPORT BEACH, Calif., March 02, 2021 (GLOBE NEWSWIRE) -- Clean Power Capital Corp. (CSE: MOVE)(FWB: 2K6)(OTC: MOTNF) (“Clean Power” or the “Company” or “MOVE”). The Company is pleased to announce that PowerTap Hydrogen Fueling Corp. (“PowerTap”), an investee company of Clean Power, has partnered with Carbonomics (http://www.carbonomicsonline.com/), a leader in helping clean tech companies maximize the potential of emission reduction credits in the US and international markets.
Carbonomics will assist PowerTap in securing the certification of its hydrogen fueling co-located stations under the Low Carbon Fuel Standard (LCFS) in California, as well as explore other environmental trading markets, such as the US federal Renewable Fuel Standard (RFS) and voluntary carbon offset market. In particular, Carbonomics will direct PowerTap’s efforts in navigating the certification and verification of project activities to ensure the company’s claims are independently validated and meet all regulatory requirements, particularly in California, a global leader in establishing and maintaining a robust emissions credits market. Carbonomics has a proven track record in developing the pathway or method of effectively quantifying greenhouse gas emission reductions and credit registration and managing the process of monetizing the resulting carbon credits. Under the agreement, Carbonomics will be paid on a success basis.
“We are excited to partner with PowerTap to help solve the ‘chicken-and-egg’ situation that exists with hydrogen refueling infrastructure, while building up the market for hydrogen vehicles in pursuit of the Hydrogen Highway. We can do this through the leading edge, carbon credit regimes in California and elsewhere ”, said Seth Baruch, President of Carbonomics.
“Carbon credits are a key part of every clean energy company’s strategy, and we are pleased to partner with Carbonomics to leverage their expertise and experience to maximize carbon credit revenues. Leading clean energy companies like Tesla (1) have used emission-reduction credit revenues to accelerate their growth and cash flow”, said Raghu Kilambi, CEO of PowerTap.
1) https://www.theverge.com/2020/10/21/21525006/tesla-q3-2020-earnings-profit-revenue-elon-musk
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
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