PowerTap Hydrogen Capital Corp. Clean Power becomes
VANCOUVER, British Columbia and IRVINE, Calif., June 14, 2021 (GLOBE NEWSWIRE) – PowerTap Hydrogen Capital Corp. (NEO: MOVE) (FWB: 2K6) (OTC: MOTNF) (“PowerTap” or the “Company” or “MOVE”) is pleased to announce that, following its announcement of June 7, 2021, the Company has finalized its name change to “PowerTap Hydrogen Capital Corp.” ”, As of the date hereof. This name change is part of the Company’s transition to a single-purpose hydrogen refueling technology company, previously announced on June 1, 2021. Financial results will be presented on a consolidated basis for the period beginning on June 1, 2021. The Company will continue to trade under the ticker symbols “MOVE” on the NEO Exchange (“NEO”), “MOTNF” on the over-the-counter markets and “2K6” on the Frankfurt Stock Exchange.
This name change emphasizes the Company’s transition to a single-purpose company from an investment issuer, redeploying its assets and resources to become a single-purpose hydrogen refueling technology company. The name change and transition to a single purpose company aligns the Company with its wholly owned subsidiary, PowerTap Hydrogen Fueling Corp., which is focused on the development of its PowerTap 3.0 hydrogen refueling units.
The name change does not affect the shareholding structure of the Company or the rights of the shareholders of the Company, and no action is required from existing shareholders.
ABOUT POWERTAP HYDROGEN CAPITAL CORP.
PowerTap Hydrogen Capital Corp., through its wholly owned subsidiary, PowerTap Hydrogen Fueling Corp. (“PowerTap”), focuses on installing hydrogen production and distribution infrastructure in the United States. PowerTap’s patented solution has been developed over 20 years. PowerTap is now marketing its third-generation blue hydrogen product that will focus on the fueling needs of the automotive and long-haul trucking markets that lack hydrogen fueling infrastructure. There are currently less than 100 publicly available operational hydrogen stations in the United States, with most existing stations purchasing industrial hydrogen from industrial manufacturers and shipping hydrogen to individual stations via tankers.
PowerTap Hydrogen’s common shares are listed on the NEO Stock Exchange. Please see the Company Profile on the NEO Exchange website at https://www.neo.inc/en/live/security-activity/MOVE#!/market-depth.
Dave Brown AMW PR
c: (917) 543-1050
Tyler Troup, Circadian Group IR
+1 (604) 687-2038
NEO THE NEO EXCHANGE NOR ITS REGULATORY SERVICE PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS COMMUNICATION.
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 laws.
Specifically, this press release contains forward-looking statements regarding, but not limited to: the successful installation of the PowerTap refueling units, the availability of the GNR feedstock to produce blue hydrogen, PowerTap becoming eligible to win HRI credits under the LCFS carbon credit program, liquidity of a secondary market to sell carbon credits, forecasts, estimates, expectations and targets for future operations. These forward-looking statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond PowerTap’s control. Some assumptions include, but are not limited to, the development of hydrogen-powered vehicles by vehicle manufacturers, market adoption of hydrogen-powered vehicles, legislation and regulations favoring the use of hydrogen. hydrogen as an alternative energy source, qualification for carbon credits, the Company’s ability to expand its planned network of hydrogen refueling stations and the Company’s ability to raise sufficient funds to finance its business plan. Forward-looking statements are statements which are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends to”. “,” Estimates “,” projects “,” potential “and similar expressions, or that events or conditions” will “,” would “,” could “,” could “or” should “occur or be achieved. This press release contains forward-looking statements regarding, among other things, the timing and ability of the Company to complete any potential investment or acquisition, if any, and the timing thereof. Forward-looking information is based on current expectations, estimates and projections which involve a number of risks, which could cause actual results to vary and, in some cases, 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 important factors, expectations and assumptions expressed in these forward-looking statements are reasonable based on the information available to it at the date of these statements, no guarantee can be given as to the results, levels of activity and future achievements. and these statements are not guarantees of future performance.
The forward-looking information contained in this press release is expressly qualified by the foregoing warnings and is made as of the date of this press release. Unless required by applicable securities laws, the Company assumes no obligation to publicly update or revise any forward-looking information to reflect events or circumstances after the date of this press release or to reflect the occurrence of ‘unforeseen events, whether as a result of new information, future events or results, or otherwise.