ValueTheMarkets Logo
Stock Market Review for the Retail Investor
Market Flashes

Clean Power Increases its Investment in PowerTap to 94.5%

05 Feb 2021 | by: ValueTheMarkets

VANCOUVER, British Columbia, February 5, 2021 – Clean Power Capital Corp. (CSE:MOVE)(FWB:2K6)(OTC:MOTNF) (“Clean Power” or the “Company” or “MOVE”) is pleased to announce that it has increased its investment in Powertap Hydrogen Fueling Corp. (“PowerTap”) by acquiring an additional 4.5% equity interest in PowerTap. As previously announced, the Company initially invested in PowerTap on October 27, 2020 by acquiring a 90% equity interest. With the latest investment, Clean Power has increased its equity interest in PowerTap to 94.5%.

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 already located in private enterprises and public stations (near LAX airport) in California, Texas, Massachusetts, and Maryland. Additional information about PowerTap may be found at its website at: https://www.powertapfuels.com

Since Clean Power’s initial investment, PowerTap has been developing its hydrogen fueling station network in stages, consisting of engineering & design; ongoing development of PowerTap 3.0; and permitting and site preparation, as updated in past news releases. Most recently, PowerTap signed a definitive agreement with Humboldt Petroleum, Inc., Peninsula Petroleum, LLC, and Colvin Oil I LLC (dba GP Energy), collectively referred to as “the Andretti Group” to locate PowerTap’s hydrogen station technology at select Andretti Group properties. Under the terms of definitive agreement, the Andretti Group will further help market PowerTap’s technology to third-party chain retailers, major oil companies and independent stations through the Andrettis’ deep network of automotive industry connections. See the Company’s news release dated January 26, 2021 for further details on the definitive agreement with the Andretti Group.

Clean Power’s investments in PowerTap aligns well with the energy industry focusing on transitioning more into hydrogen-based energy as demonstrated by the USA President Biden’s most recent executive orders to drive the USA to a clean energy future by achieving a carbon pollution-free power sector by 2035 and putting the USA on an irreversible path to a net-zero economy by 2050; and Canada’s recently announced hydrogen strategy, which sets sets an ambitious framework to cement hydrogen as a key part of Canada’s path to net-zero carbon emissions by 2050.

Taking advantage of the energy industry’s momentum towards investments in the development of  hydrogen-based technology and the anticipated increase in demand for hydrogen-based fuel, the  investment in PowerTap takes advantage of favourable market conditions and is aligned with the Company’s investment policy, which was previously amended and restated to include the renewable energy sector as an area of focus for the Company.  The amended and restated investment policy is available for review on the Company‘s website at (https://cleanpower.capital/) and will be tabled for ratification at the Company’s next annual general meeting of shareholders on March 15, 2021.

After the initial investment to acquire 90% of PowerTap, the Company completed this follow-on investment to increase Clean Power’s investment in PowerTap to 94.5%. The consideration paid to the vendors for the additional 4.5% of PowerTap consisted of an aggregate of 18,000,000 common shares in the capital of the Company (the “Consideration Shares”) at a deemed value of $2.72 per Consideration Share. The vendors are arm’s-length to one another and none of whom, individually holds 10% or more of the issued and outstanding shares of the Company on a non-diluted basis. The issuance of the Consideration Shares relied on the accredited investor exemption under Section 2.3 of National Instrument 45-106 – Prospectus Exemptions and therefore the Consideration Shares are subject to a four month and one day hold period.

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. Clean Power’s most recent investment was in PowerTap on October 27, 2020 (see the Company’s news release on October 28, 2020). 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/

Clean Power common shares are listed on the Canadian Securities Exchange. Please visit the company’s profile on the Canadian Securities Exchange website at: https://thecse.com/en/listings/diversified-industries/clean-power-capital-corp

PowerTap Contact
Salim Rahemtulla
[email protected]

PR Contact
Vito Palmeri
AMW PR
c: 347.471.4488 | o: 212.542.3146
[email protected]

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Clean Power Contact
Joel Dumaresq
[email protected]
+1 (604) 687-2038

NOTICE REGARDING FORWARD-LOOKING INFORMATION:

This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities law. Forward-looking information is frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or information that certain events or conditions “may” or “will” occur. This information is only a prediction. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking information throughout this news release. Forward-looking information includes, but is not limited to: political changes in Canada and internationally, future legislative and regulatory developments involving cannabis in Canada and internationally, AgraFlora’s ability to secure distribution channels in international jurisdictions, competition and other risks affecting AgraFlora in particular and the cannabis industry generally. Without limiting the generality of the foregoing, the forward-looking statements herein include, among other things, the ability to develop the Delta Greenhouse Complex and the successful integration of Organic Flower’s unique domestic downstream asset portfolio under the AgraFlora banner.

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.


IMPORTANT NOTICE AND DISCLAIMER

Paid Advertisement

This communication is a paid advertisement. ValueTheMarkets is a trading name of Digitonic Ltd, and its owners, directors, officers, employees, affiliates, agents and assigns (collectively the “Publisher”) is often paid by one or more of the profiled companies or a third party to disseminate these types of communications. In this case, the Publisher has been compensated by CLEAN POWER CAPITAL CORP. to conduct investor awareness advertising and marketing and has paid the Publisher the equivalent of five hundred thousand US dollars to produce and disseminate this and other similar articles and certain related banner advertisements. This compensation should be viewed as a major conflict with the Publisher’s ability to provide unbiased information or opinion.

Changes in Share Trading and Price

Readers should beware that third parties, profiled companies, and/or their affiliates may liquidate shares of the profiled companies at any time, including at or near the time you receive this communication, which has the potential to adversely affect share prices. Frequently companies profiled in our articles experience a large increase in share trading volume and share price during the course of investor awareness marketing, which often ends as soon as the investor awareness marketing ceases. The investor awareness marketing may be as brief as one day, after which a large decrease in share trading volume and share price may likely occur.

No Offer to Sell or Buy Securities

This communication is not, and should not be construed to be, an offer to sell or a solicitation of an offer to buy any security.

Information

Neither this communication nor the Publisher purport to provide a complete analysis of any company or its financial position.

This communication is based on information generally available to the public and on an interview conducted with the company’s CEO, and does not contain any material, non public information. The information on which it is based is believed to be reliable. Nevertheless, the Publisher does not guarantee the accuracy or completeness of the information. Further, the information in this communication is not updated after publication and may become inaccurate or outdated. No reliance should be placed on the price or statistics information and no responsibility or liability is accepted for any error or inaccuracy. Any statements made should not be taken as an endorsement of analyst views.

No Financial Advice

The Publisher is not, and does not purport to be, a broker-dealer or registered investment adviser or a financial adviser. The Publisher has no access to non-public information about publicly traded companies. The information provided is general and impersonal, and is not tailored to any particular individual’s financial situation or investment objective(s) and this communication is not, and should not be construed to be, personalized investment advice directed to or appropriate for any particular investor or a personal recommendation to deal or invest in any particular company or product. Any investment should be made only after consulting a professional investment advisor and only after reviewing the financial statements and other pertinent corporate information about the company. Further, readers are advised to read and carefully consider the Risk Factors identified and discussed in the advertised company’s SEC, SEDAR and/or other government filings. Investing in securities, particularly microcap securities, is speculative and carries a high degree of risk. Past performance does not guarantee future results.

Forward Looking Statements

This communication contains forward-looking statements, including statements regarding expected continual growth of the featured companies and/or industry. Statements in this communication that look forward in time, which include everything other than historical information, are based on assumptions and estimates by our content providers and involve risks and uncertainties that may affect the profiled company’s actual results of operations. These statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results and performance to differ materially from any future results or performance expressed or implied in the forward-looking statements. These risks, uncertainties and other factors include, among others: the success of the profiled company’s operations; the size and growth of the market for the company’s products and services; the company’s ability to fund its capital requirements in the near term and long term; pricing pressures; changes in business strategy, practices or customer relationships; general worldwide economic and business conditions; currency exchange and interest rate fluctuations; government, statutory, regulatory or administrative initiatives affecting the company’s business.

Indemnification/Release of Liability

By reading this communication, you acknowledge that you have read and understand this disclaimer in full, and agree and accept that the Publisher provides no warranty in respect of the communication or the profiled company and accepts no liability whatsoever. You acknowledge and accept this disclaimer and that, to the greatest extent permitted under applicable law, you release and hold harmless the Publisher from any and all liability, damages, injury and adverse consequences arising from your use of this communication. You further agree that you are solely responsible for any financial outcome related to or arising from your investment decisions.

Terms of Use and Disclaimer

By reading this communication you agree that you have reviewed and fully agree to the Terms of Use found here https://www.valuethemarkets.com/terms-conditions/ and acknowledge that you have reviewed the Disclaimer found here https://www.valuethemarkets.com/disclaimer/. If you do not agree to the Terms of Use, please contact ValueTheMarkets.com to discontinue receiving future communications.

Intellectual Property

All trademarks used in this communication are the property of their respective trademark holders. Other than Valuethemarkets.com, the Publisher is not affiliated, connected, or associated with, and the communication is not sponsored, approved, or originated by, the trademark holders unless otherwise stated. No claim is made by the Publisher to any rights in any third-party trademarks other than Valuethemarkets.com.

Authors: ValueTheMarkets

Valuethemarkets.com and Digitonic Ltd and our affiliates are not responsible for the content or accuracy of this article. The information included in this article is based solely on information provided by the company or companies mentioned above. This article does not provide any financial advice and is not a recommendation to deal in any securities or product. News and research are not recommendations to deal, and investments may fall in value so that you could lose some or all of your investment. Past performance is not an indicator of future performance.

ValueTheMarkets do not hold any position in the stock(s) and/or financial instrument(s) mentioned in the above piece. ValueTheMarkets have been paid to produce this piece by the company or companies mentioned above. Digitonic Ltd, the owner of ValueTheMarkets.com, has been paid for the production of this piece by the company or companies mentioned above.

Valuethemarkets.com, Digitonic Ltd (and our owners, directors, officers, managers, employees, affiliates, agents and assigns) are not responsible for the content or accuracy of this article. The information included in this article is based solely on information provided by the company or companies mentioned above.

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

    RNS Responses