PowerTap Hydrogen Capital (NEO: MOVE) (FWB: 2K6) (OTC: MOTNF), an investment company, has released a corporate update. The update covers the municipal approvals and corporate development activities of PowerTap Hydrogen Fueling Corp., a wholly owned subsidiary of PowerTap. The report noted that PowerTap Hydrogen Fueling Corp. has submitted the required application for design review for its Carmel Center station; the application was submitted to the County of Monterey in May 2022. PowerTap anticipates a design review hearing will be scheduled in October of this year and then, after the engineering design is finalized, the company will apply for construction permits. The report also noted that the company has been investing significant time and effort in developing relationships with key entities, including fuel cell electric vehicle (“FCEV”) manufacturers, oil and gas companies, and fuel transportation companies. These relationships are critical as the company progresses in its plan to establish light-duty and heavy-duty FCEV hydrogen refueling stations. The company is also focusing on identifying and engaging with leading component technology partners in supply chain development for the assembly of its Generation 3 Modular Hydrogen Production and Dispensing Unit (“MHPDU”) as well as working with prospective technology partners to explore various next-generation products. Finally, the report noted that MOTNF will issue an additional 8,256,701 common shares, priced at $0.115 per common share, as the balance of the sponsorship fee for the 2022 racing season, subject to outlined hold periods and acceptance of final filing documents.
To view the full press release, visit https://ibn.fm/39gg3
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 fuel dispensing 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 fewer than 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. For more information about the company, please visit www.PowerTapCapital.com.
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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