- AES Technology inventor, Pinakin Patel, elected to the California Hydrogen Business Council (CHBC) Board
- The CHBC is a prestigious group advocating hydrogen policy at a national level promoting commercialization of new and existing technologies
- Patel’s appointment will ensure AES technology meets the needs of the United States transition to low-carbon economy, marking another step towards the successful adoption and commercialization of AES technology
Toronto, Canada – January 24, 2022 (Globe Newswire) PowerTap Hydrogen Capital Corp (NEO: MOVE) (FWB: 2K6B) (OTC: MOTNF) (“PowerTap” or the “Company” or “MOVE”) is pleased to announce that Pinakin Patel, co-founder of AES-100 Inc, and lead inventor of the Advance Electrolyzer Technology (AES) for green hydrogen technology, has been elected to the CHBC Board. The California Hydrogen Business Council is a national level organization promoting and advocating for the commercialization of low-carbon and green hydrogen technologies. Its membership includes over 140 companies engaged in every aspect of the hydrogen supply chain worldwide. The Company owns 49 percent of AES-100 Inc.
As a prior member of the Board of Directors of National Hydrogen Association, Mr. Patel has received recognition and awards for his many contributions to the emerging green hydrogen industry. Of specific importance, Mr. Patel successfully championed the definition of green hydrogen to include waste-derived hydrogen. This broadened definition opened new pathways to develop lower-cost green hydrogen. It allowed the inclusion of other feedstocks such as biogas, digester gas, landfill gas and renewable natural gas. This pioneering work by Mr. Patel has laid the foundation for the emerging green hydrogen industry for transition to sustainable development of tomorrow. It has also strengthened his ongoing commitment to AES technology.
As a major investor in AES technology, PowerTap is committed to leveraging the best ideas and working with the best talent in the world to pursue our ambitious green energy goals.
California is key target market for AES technology. With a growing footprint of green energy generation, the California power grid is forced to curtail power production during the day. This curtailment is expensive to California ratepayers, and waste of valuable green energy. AES technology provides a promising solution to the curtailment problems, ensuring excess green energy is stored as hydrogen for later use.
Having a seat at the table on the CHBC Board will help to showcase unique benefits of AES technology to reduce emissions from the transportation, stationary power, and industrial sectors in California, and through out the United States as a whole. This is another step that not only aligns with accelerated commercialization of AES technology, but it also differentiates AES technology and its position in the market.
ABOUT AES-100 Inc.
AES-100 Inc. is a venture stage green technology company focused on the development of novel hydrogen generation and separation technologies. AES owns the exclusive rights and intellectual property pertaining to the AES technology for the production of hydrogen.
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.
Tyler Troup, Circadian Group IR
+1 (604) 687-2038
NEITHER THE NEO EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding AES; the AES technology; the global addressable market for hydrogen; the effectiveness and timelines to deploy the AES home power unit; reduction of risk for industrial applications of the AES technology; the renewable energies sector and the Company’s future plans. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks inherent in the mining industry and risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR at www.sedar.com and on the Company’s website at www.aberdeen.green. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.