PowerTap (NEO: MOVE) (OTC: MOTNF) (FWB: 2K6) today provided an update on the activities of its wholly owned subsidiary PowerTap Hydrogen Fueling Corp. Over the past 75 days, PowerTap Hydrogen, in conjunction with T2M Global, PowerTap’s technology partner, has made good progress in engineering and supply chain validation of the PowerTap Gen3 Modular Hydrogen Production and Dispensing Unit (“MHPDU”). The efforts are part of PowerTap’s plan to establish light-duty and heavy-duty FCEV hydrogen refueling stations. According to the update, T2M has put several hundred hours of effort into component supply chain, finalization of CO2 use and sequestration strategy and identification of a strategy to fast track first station delivery of a minimum viable product. With support from PowerTap, T2M Global also developed a response to an invitation-only $4.3 million request for proposal from the Air Quality Mitigation Fund (“AQMF”) of the Harbor Community Benefit Foundation (“HCBF”) for the implementation and/or demonstration of zero or near-zero emissions freight movement technologies. The T2M/PowerTap proposal characterized a barge-based fuel cell power cold ironing project, including the production of hydrogen. The PowerTap station in the Port of Los Angeles is a promising opportunity, for which the HCBF will announce the grantee by early 2023.
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About PowerTap Hydrogen Capital Corp.
PowerTap Hydrogen Capital, 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.
NOTE TO INVESTORS: The latest news and updates relating to MOTNF are available in the company’s newsroom at https://ibn.fm/MOTNF
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