PowerTap (NEO: MOVE) (OTC: MOTNF) (FWB: 2K6) today announced its entry into a strategic manufacturing and licensing agreement with California-based Capstone Green Energy Corporation (NASDAQ: CGRN) for the prototype manufacturing of PowerTap’s proprietary third generation hydrogen production and dispensing station (the “PowerTap Unit”). According to the update, each PowerTap Unit is modular in design and utilizes PowerTap’s proprietary technology to produce and dispense blue hydrogen onsite. “Since acquiring the PowerTap hydrogen fueling brand and technology intellectual property portfolio, PowerTap has significantly enhanced the acquired technology to be more efficient, cost effective and streamlined and is pleased to be launching the PowerTap third generation hydrogen fueling system,” said PowerTap Senior Advisor David Bray in the news release. “In January 2021, we partnered with the Andretti Group given their vast west coast network and dedication to excellent on-site operations. This partnership will allow PowerTap to work hand-in-hand with Andretti Group at the site level to drive an exciting customer experience with Hydrogen fueling. Today, I am pleased to announce that we entered into a strategic licensing and manufacturing agreement with Capstone Green Energy to enhance our product development efforts and manufacture our commercial hydrogen production and fueling products. We selected Capstone Green Energy as they have the proven product development, certification and manufacturing expertise to assist PowerTap in meeting our strategic hydrogen vision.”
To view the full press release, visit https://ibn.fm/k5bFz
PowerTap Hydrogen Capital, 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%23!/market-depth#!/market-depth.
NOTE TO INVESTORS: The latest news and updates relating to MOTNF are available in the company’s newsroom at http://ibn.fm/MOTNF
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