VANCOUVER, British Columbia and IRVINE, Calif. — PowerTap Hydrogen Capital Corp (NEO: MOVE) (FWB: 2K6B) (OTC: MOTNF) (“PowerTap” or the “Company” or “MOVE”) is pleased to provide an update on its zoning application activities for its initial stations in Northern California, development, final engineering of its Gen3 modular blue hydrogen production and dispensing unit (“MHPDU”), and on the supply of renewable natural gas for our newly developed Gen3 units.
With some delays due to pandemic constraints, zoning approval is moving forward for the first Andretti station incorporating a PowerTap Gen3 MHPDU, located in Fortuna, in Humboldt County, California. The initial public hearing is scheduled for May 2022 and the PowerTap team is gearing up for full participation in the hearing. With zoning approval of the Fortuna station, the company anticipates construction and installation permits processing to yield approvals in Q3/Q4 2022, with construction to follow.
In reference to final engineering, PowerTap has engaged with T2M Global (“T2M”) to complete the final prototype engineering for manufacturing using the breadth of T2M’s technology development, commercialization, strategic advisory and business/supply chain development services. The T2M team has best in-class engineers with depth and significant expertise in hydrogen, specifically, the critical technical arenas of heat transfer, compression, and storage, as well as station deployment. T2M will work with our contract manufacturer, Capstone Green Energy, to develop and deploy a world class PowerTap manufacturing process in Capstone’s facilities.
Regarding PowerTap’s supply of renewable natural gas (“RNG”) or biomethane for production of hydrogen through the Gen3 MHPDU, the Company has established a non-binding letter of intent with an RNG vendor to provide supply of RNG through 2027 at very competitive pricing as it pursues its plan to deploy blue hydrogen MHPDUs across California and beyond. The RNG vendor has agreed, through its project partners, to provide RNG that would provide a total carbon intensity (“CI”) of zero or less in a blend of 41% RNG to 59% fossil fuel natural gas required to produce hydrogen through the Gen3. It is this blend of RNG that enables PowerTap to maximize the carbon credits it expects to earn via the State of California Low-Carbon Fuel Standard (“LCFS”) program.
PowerTap CEO Raghu Kilambi commented, “We continue to make progress in our goal to build the PowerTap hydrogen highway.”
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.
Read the most up to date Fuel Cell and Hydrogen Industry news at FuelCellsWorks
