NEWS RELEASE
VANCOUVER, British Columbia and Newport Beach, California, March 4, 2021 – Clean Power Capital Corp. (CSE: MOVE)(FWB: 2K6)(OTC: MOTNF) (“Clean Power” or the “Company” or “MOVE”). The Company and its investee company, PowerTap Hydrogen Fueling Corp. (“PowerTap”), is pleased that the city of Petaluma, California has announced a ban on new gas stations to encourage the deployment of Hydrogen fueling station and battery electric charging stations[1]. This city ban is consistent with State of California’s mission to mandate that all new vehicles be emission free by 2035[2].
“The recent announcements by Petaluma, CA and the State of California are consistent with our thesis that to support hydrogen vehicles (cars and long trucks) that will be hitting the road in the coming few years, significantly more hydrogen fueling stations will be needed (over the current available ~44 in California[3]) in California and the rest of the USA. Our PowerTap onsite hydrogen production technology is currently being used for private hydrogen stations in the USA and a public station near LAX and we look forward to installing our new PowerTap 3 to be deployed at existing gas stations starting in the second half of 2021. Our business plan is to install 500+ stations across the USA in the next 5 years.” said Raghu Kilambi, CEO of PowerTap.
[1] https://www.thedrive.com/news/39541/petaluma-california-is-the-first-us-city-to-ban-new-gas-pumps
[2] https://www.gov.ca.gov/2020/09/23/governor-newsom-announces-california-will-phase-out-gasoline-powered-cars-drastically-reduce-demand-for-fossil-fuel-in-californias-fight-against-climate-change/
[3] https://cafcp.org/stationmap
ABOUT 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.
Learn more about Clean Power by visiting our website at: https://cleanpower.capital/
PowerTap Contact
Raghu Kilambi
raghu@hydrogenfueling.co
PR Contact
Vito Palmeri
AMW PR
c: 347.471.4488 | o: 212.542.3146
vito@amwpr.com
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Clean Power Contact
Joel Dumaresq
info@cleanpower.capital
+1 (604) 687-2038
Notice Regarding Forward Looking Information:
This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities law. Forward-looking information is frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or information that certain events or conditions “may” or “will” occur. This information is only a prediction. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking information throughout this news release. Forward-looking information includes, but is not limited to: political changes in Canada and internationally, future legislative and regulatory developments involving cannabis in Canada and internationally, AgraFlora’s ability to secure distribution channels in international jurisdictions, competition and other risks affecting AgraFlora in particular and the cannabis industry generally. Without limiting the generality of the foregoing, the forward-looking statements herein include, among other things, the ability to develop the Delta Greenhouse Complex and the successful integration of Organic Flower’s unique domestic downstream asset portfolio under the AgraFlora banner.
The forward-looking information contained in this release is expressly qualified by the foregoing cautionary statements and is made as of the date of this release. Except as may be required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward- looking information to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.