VANCOUVER, British Columbia and IRVINE, Calif., June 21, 2022 (GLOBE NEWSWIRE) -- PowerTap Hydrogen Capital Corp (NEO: MOVE) (FWB: 2K6B) (OTC: MOTNF) (“PowerTap” or the “Company” or “MOVE”) is pleased to provide an update on its continued efforts in California and recent participation in the California Hydrogen Leadership Summit (CHLS) in Sacramento, California in early June 2022.
In early June 2022, the California Hydrogen Business Council held the CHLS with PowerTap Hydrogen Fueling Corp. sponsoring, participating and moderating an industry panel. Participation was strong with over 550 registrants, including representatives from the transportation, power and heavy industry sectors, utility companies, and vendors from across and beyond the hydrogen industry. A key audience for the summit was California policy makers and regulators and focused on exploring the policies, programs and incentives needed to accelerate production, use, and storage of hydrogen, essential to California’s ability to meet emissions goals and address climate protection, air quality, energy resilience and sustainable economic growth needs. With a primary intent of educating California policy makers and regulators on the accelerating the hydrogen industry in the state, significant takeaway from the summit was that collaboration between market participants will solidify the hydrogen industry toward complete decarbonization in California and state and federal incentives will enable winners with standout cost effective technology and business models to emerge and make significant strides to establishing the industry.
PowerTap Hydrogen Fueling Corp. President, Salim Rahemtulla, moderated a panel entitled “Building a Hydrogen Fueling Network that Fuels the Gaps in California’s Transportation Decarbonization and Air Quality Goals” that included panelists from Nikola Corporation (NASDAQ: NKLA), Ballard (NASDAQ: BLDP), Chevron (NYSE: CVX) and Trillium (of the Love’s Family of Companies). The discussion points of the panel clearly identified that collaboration is necessary across hydrogen industry verticals from fuel-cell electric truck and bus OEMs to hydrogen producers and fueling station developers.
ABOUT POWERTAP HYDROGEN CAPITAL CORP.
PowerTap Hydrogen Capital Corp., through its wholly owned subsidiary, PowerTap Hydrogen Fueling Corp. (“PowerTap”), is focused on installing hydrogen production and dispensing fueling infrastructure in the United States. PowerTap’s patented solution has been developed over 20 years. PowerTap is now commercializing its third-generation blue hydrogen product that will focus on the refueling needs of the automotive and long-haul trucking markets that lack hydrogen fueling infrastructure. There are currently under 100 operational publicly available hydrogen stations in the United States with most of the existing stations purchasing industrial hydrogen from industrial manufacturers and shipping hydrogen to individual stations via tanker trucks.
PowerTap Hydrogen common shares are listed on the NEO Exchange. Please visit the company's profile on the NEO Exchange website at https://www.neo.inc/en/live/security-activity/MOVE#!/market-depth.
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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 PowerTap. Some assumptions include, without limitation, the timing of and likelihood of the success of the zoning application; the timing for the completion of the MHPDU prototype; the availability of the supply of RNG; the global addressable market for hydrogen; the renewable energies sector and the Company’s future plans. 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.
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