VANCOUVER, British Columbia and IRVINE, Calif., December 3, 2021 (GLOBE NEWSWIRE) PowerTap Hydrogen Capital Corp (NEO: MOVE) (FWB: 2K6B)(OTC: MOTNF) (“PowerTap” or the “Company” or “MOVE”) is pleased to provide an update with respect to its exhibition at Expo 2020 in Dubai and advise that the PowerTap Gen3 modular hydrogen production and dispensing system was met with tremendous fanfare and accolades.
Viridian Hydrogen UAE (“Viridian”) and PowerTap’s have seen a tremendous number of inquiries from investors and potential partners as a result of the PowerTap exhibition. The Viridian website traffic is up over 1,000% as a result of the show. Viridian has received a number of inquiries from major companies and representatives of national utility and technology companies in Asia, Eastern and Western Europe and the UAE to work with the PowerTap team to identify ways to utilize PowerTaps patented technologies for hydrogen production, distribution, utilization, and carbon capture technology.
Viridian Hydrogen was asked to sit on a panel at Expo 2020 to discuss the future of renewable and hydrogen technology. Mr. Sagar Mirchandani, Partner at Viridian stressed to the audience that hydrogen was not just a fuel of the future but through the use of PowerTap technologies currently available in the market, a power source that is readily available today for companies to provide a safer and cleaner fuel alternative to their customers.
“We cannot express how delighted we are at the reception we have received from the people of the UAE and the visitors to Expo 2020. We are looking forward to working with current and new partners to continue to utilize PowerTaps technology and systems to provide a clean fuel source for a variety of commercial needs” said Mr. Raghu Kilambi, CEO of PowerTap Hydrogen Capital Corp.
PowerTap will continue to work with Viridian and Viridian’s Hydrogen Advisory Council to deliver on a variety of hydrogen focused projects that are currently being explored with governments and Fortune500 companies as a result of the Expo 2020.
MOVE & Viridian are honored to continue to help build on the UAE’s Founding Father the late Sheikh Zayed Bin Sultan Al Nahyan’s visionary leadership to establish the pillars of success for the Arab Emirates.
ABOUT VIRIDIAN HYDROGEN, UAE
Viridian Hydrogen UAE has been retained by PowerTap as a provider of integrated renewable solutions with a focus on the development of hydrogen in the United Arab Emirates and the greater MENA region.
Through a diverse network of local partners and advisors Viridian has positioned itself as the trusted resource for governments and multinational corporations wishing to implement their renewable strategies in the region.
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.
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Notice Regarding Forward Looking Information:
This press release contains “forward-looking statements” or “forward-looking information” (collectively referred to herein as “forward-looking statements”) within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of PowerTap. Some assumptions include, without limitation, the development of hydrogen powered vehicles by vehicle makers, the adoption of hydrogen powered vehicles by the market, legislation and regulations favoring the use of hydrogen as an alternative energy source, the qualification for carbon credits (including the availability of credits, benefits, emission reductions, offsets and allowances, howsoever entitled, attributable to the production, combustion or other use of biogas), the availability of sufficient RNG feedstock the Company’s ability to build out its planned hydrogen fueling station network, and the Company’s ability to raise sufficient funds to fund its business plan. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur or be achieved. This press release contains forward-looking statements pertaining to, among other things, the timing and ability of the Company to complete any potential investments or acquisitions, if at all, and the timing thereof. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company and described in the forward-looking information contained in this press release.
Although the Company believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance.
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.