VANCOUVER, British Columbia and IRVINE, Calif., October 8, 2021 (GLOBE NEWSWIRE) PowerTap Hydrogen Capital Corp (NEO: MOVE) (FWB: 2K6)(OTC: MOTNF) (“PowerTap” or the “Company” or “MOVE”) is pleased to announce that Viridian Hydrogen UAE (“Viridian”), PowerTap’s exclusive Middle East distributor has been selected to introduce the PowerTap Gen3 modular hydrogen production and dispensing system at Expo 2020, which will be building upon 170 years of World Expos that have provided a platform to showcase the latest technologies from around the globe that will shape the world of today and tomorrow.
World Expositions have been at the heart of introducing innovation and specifically clean power since Professor Keith Williams, the chief engineer for the Shell Oil company was asked to make a fuel cell to power the Paris exhibition to present the future potential of clean power. The team at PowerTap has realized the vision of a clean fuel source with the participation of yet another former Shell Oil company executive, Mr. David Bray.
“The UAE has positioned itself as a champion of sustainability. The underpinning of the hydrogen ecosystem will be on display not only at Expo 2020 but across Dubai and the UAE over the next six months” said Mr. Raghu Kilambi, CEO of PowerTap Hydrogen Capital Corp.
Mr. Sagar Mirchandani, Partner of Viridian Hydrogen, UAE is looking forward to displaying the PowerTap system to the expected 25 million visitors to the first Expo to take place in the Middle East, Africa, and South Asia Region. Mr. Mirchandani highlights “that the teams at Viridian and PowerTap in keeping with the theme of the Expo of Mobility, Sustainability and Opportunity will have the good-fortune to show not just the region but the world that hydrogen fueling is the fuel source that will transform our world economies into a renewable, sustainable future”.
Additionally, Viridian is pleased to announce that it has established a Hydrogen Advisory Council to continue to help steward the transition to sustainable energy production. The select members being added to this group will enable Viridian and PowerTap to transition the UAE into a global leader in hydrogen production, distribution, utilization, and carbon capture technology.
Mr. Ismail Al Zarooni has agreed to join the Hydrogen Advisory Council. Mr. Zarooni is an accomplished civil engineer passionate about renewable energy and decarbonization. Ismail has experience in delivering numerous end-to-end multi-billion-dollar projects across Dubai, these projects range from airports to over 80+ gold certified LEED Expo pavilions.
Being a key member of Expo 2020 site delivery team, he has successfully delivered various bespoke award winning CEEQUAL and LEED certified projects ranging from a unique observation tower to complex steel shade structures. Ismail has extensive experience in managing various stakeholders ranging from governmental authorities, contractors, multi-national investment firms and end users. With comprehensive knowledge of current research and trends in the field of renewable energy and sustainability, Ismail has always exemplified this at the heart of all his projects.
Mr. Zarooni is “eager to be a part of the Hydrogen Advisory Council to further develop the hydrogen ecosystem within the UAE and contribute to the UAE’s vision of enhancing the country’s competitiveness in sustainability and to preserve its environment for future generations.”
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 to become 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.