PowerTap’s New Modular Hydrogen Production and Dispensing Technology Meets the Needs of the Coming Hydrogen Vehicle Economy
VANCOUVER, British Columbia, Dec. 01, 2020 (GLOBE NEWSWIRE) -- Clean Power Capital Corp. (CSE: MOVE)(FWB: 2K6)(OTC: MOTNF) (“Clean Power” or the “Company” or “MOVE”). The Company is pleased to provide an update on the activities of PowerTap Hydrogen Fueling Corp. (“PowerTap”), the company’s previously announced investment. PowerTap is in the process of completing its 3rd generation design of its patented onsite hydrogen production and dispensing technology for the North American hydrogen vehicle market.
As PowerTap looks to roll out the 3rd generation of its onsite hydrogen production and dispensing technology for hydrogen trucks and cars, PowerTap believes that its new modular design of the units has distinct advantages over the previous two generations of PowerTap units installed in the United States and other hydrogen fueling technologies. These improvements and advantages include:
The modular design allows for the station to be fully assembled and tested prior to delivery. The modular design also allows for the selection of already operating sites that have suitable zoning permits for installation and operation.
This allows for stations to go live within weeks versus months or years.
Other competitive stations are built from scratch onsite leading to multi-year construction projects and increased needed zoning approvals.
The modular design allows for Underwriters Laboratories UL approval, greatly reducing the number of onsite inspections by third parties.
The modular design allows for future upgrades in capacity and storage to an existing station to grow as market demand grows.
The modular design allows the stations to be mass produced, critical to building out a large infrastructure near term.
The modular design bypasses city planning processes, as the stations come fully assembled and only require a pad and Compressed Natural Gas (CNG)/Renewable Natural Gas (RNG) feedstock brought to the site.
The modular design is capable of supporting other new technologies for hydrogen production (when green hydrogen becomes economical) as all other modules are independent of the fuel processing module allowing PowerTap to upgrade its technology onsite in the future.
The modular design allows for the station to be relocated if necessary, which further extends the life of the asset and its value.
The PowerTap modular size and design is less than half the size of the closest competitor.
The modular design creates additional intellectual property owned by PowerTap in addition to PowerTap’s current 20+ global patent portfolio.
“PowerTap’s patented, onsite blue hydrogen generating fuel station technology is the right solution for today’s lack of hydrogen fueling infrastructure. PowerTap plans to roll out hydrogen fueling stations to meet the USA’s public hydrogen fueling station increased demand. Our new modular design will allow us to deploy our stations rapidly starting in 2021,” noted Kelley Owen, Chief Operating Officer of 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.
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