VANCOUVER, British Columbia and Newport Beach, California, February 22, 2021 – Clean Power Capital Corp. (CSE: MOVE)(FWB: 2K6)(OTC: MOTNF) (“Clean Power” or the “Company” or “MOVE”). The Company is pleased to provide additional information about how the onsite hydrogen production and dispensing technology being developed by PowerTap Hydrogen Fueling Corp. (“PowerTap”), an investee company of Clean Power, will be used in other commercial markers.
PowerTap has commenced plans to commercialize its 3rd Generation units into new verticals like commercial buses and trains. and has started initial discussions with various cities, states/provinces about partnerships. Subject to the progression of PowerTap’s plan to expand its product offering into commercial buses and trains, its 3rd generation onsite hydrogen production module will be made available to provide blue hydrogen for trains and buses, in addition to hydrogen fuel cell cars and trucks. A prime and exciting example of this growing market is the Coradia iLint, a hydrogen train built by Alstom in Salzgitter, Germany and currently being deployed in Europe1. The Corada iLint is the world’s first passenger train powered by on-board hydrogen fuel cells, which produces electrical power for traction. This relatively low-noise, zeroemission train only exhausts steam and condensed water as atmospheric outputs.
Another vertical that could be receptive to PowerTap’s blue hydrogen production and dispensing technology is the ever expanding hydrogen public bus fleet. For instance, the Orange County, California Transit Authority (OCTA) added a fuel cell bus to their fleet in the summer of 2016 as part of a pilot program in which OCTA became the first large public transportation agency in Southern California to operate a hydrogen fuel-cell electric bus2. During the pilot program, OCTA operated the first hydrogen bus on a number of its routes for about 16 hours per day, 292 days a year, similar to the way OCTA operates the other buses in its fleet. In the near future, OCTA has plans to deploy ten additional buses with supporting fueling infrastructure with a grant funded by the California Air Resources Board (CARB) Zero-Emission Truck and Bus Pilot Commercial Deployment Project and the South Coast Air Quality Management District (SCAQMD). According to the California Fuel Cell Partnership, fuel cell buses operate with no local emissions, reduced noise, and a substantial reduction in greenhouse gas emissions on a well-to-wheel basis and have performance, range and route flexibility similar to diesel buses3.
Raghu KIlambi, CEO of PowerTap noted “PowerTap continues to have discussions with various commercial opportunities in various verticals and will continue to update shareholders in the coming weeks and months.”
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.
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