Bill O’Banion Joins PowerTap Advisory Board

Rhea-AI Summary

PowerTap Hydrogen Capital Corp. (OTC: MOTNF) has appointed Mr. William O’Banion to its Advisory Board. O’Banion, a seasoned business development executive with over 27 years of experience, specializes in advanced automation and hydrogen fuel technologies. His leadership is expected to strengthen PowerTap's strategic growth in the hydrogen fueling sector. The company is focused on developing hydrogen production and dispensing infrastructure in the U.S., targeting the automotive and trucking markets.

Positive

• Appointment of William O’Banion enhances advisory capabilities with his extensive industry experience.
• O’Banion's expertise in advanced automation and hydrogen fuel technologies aligns with PowerTap’s growth strategy.
• Potential access to critical relationships in hydrogen fuel and EV markets.

Negative

• Dependence on O’Banion’s relationships raises concerns about continuity in leadership dynamics.

VANCOUVER, British Columbia, July 07, 2022 (GLOBE NEWSWIRE) -- PowerTap Hydrogen Capital Corp. (NEO: MOVE) (FWB: 2K6B) (OTC: MOTNF) (“PowerTap” or the “Company”) is pleased to announce that Mr. William O’Banion, Founder/Managing Director of Indranet Partners (https://www.indranetpartners.com/), Director of Strategic Development at Fidelity Capital Partners (http://fidelitycapitalonline.com/), and acting Director of Business Development for PowerTap Hydrogen Fueling Corp., has been appointed to the PowerTap Advisory Board. Mr. O’Banion brings his experience as a veteran capital equipment and advanced automation business development specialist with unique focus in the Oil and Gas and Semiconductor Gas Delivery system solutions, and his book of business as an advanced automation executive and business development career spanning three decades in the Alternative Fuels, Renewable Energy and Ag/Cannabis markets.

Mr. O’Banion is an excellent addition to the PowerTap Advisory Board given his experience as a 27-year Business/Strategy Development Executive in the Advanced Automation industry, having led strategic client, product and associated supply chain development of several companies involved in capital equipment within some of the most advanced global technology markets. His firm is currently heavily invested in the hydrogen fuel cell and EV markets where PowerTap’s hydrogen generation platforms will be deployed to support hydrogen-based transportation industry fuel demands. Mr. O’Banion has a stellar track record of developing deep relationships with global leaders of every respective market he has engaged with historically, generating nearly USD $2 billion revenue over the course of his career. He has been responsible for creating niche markets by introducing the most advanced technologies into extremely difficult applications which have resulted in critical market evolution and global leadership positions. William has filled a leadership role in every step of his career with an entrepreneurial mind and savvy for aligning technology solutions where they are needed the most.

“We are very excited to have Bill join our Advisory Board - He complements our team and adds a wealth of knowledge and critical relationships, and record of building deep relationships in industries in which we are focusing our deployment strategy, making his appointment a strategic and integral part of PowerTap’s long term future growth,” said Raghu Kilambi, CEO of PowerTap Hydrogen Capital Corp.

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.

Investor Contact:
Tyler Troup, Circadian Group IR
MOVE@circadian-group.com

PowerTap Contact:
Raghu Kilambi
raghu@hydrogenfueling.co
+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.

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, risks and uncertainties, many of which are beyond the control of PowerTap. Some assumptions include, without limitation, the Company being able 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. 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.

FAQ

What is the significance of William O’Banion's appointment to PowerTap's Advisory Board?

William O’Banion's extensive experience in advanced automation and hydrogen technology strengthens PowerTap's strategic direction and growth potential.

How will O’Banion's experience impact PowerTap Hydrogen Capital Corp.?

O’Banion's background in business development and industry relationships may facilitate new opportunities and partnerships in the hydrogen fueling sector.

What are PowerTap's current market focuses following this leadership change?

PowerTap is focused on developing hydrogen production and dispensing infrastructure, particularly within the automotive and trucking markets.

What does PowerTap Hydrogen Capital Corp. aim to achieve in the hydrogen market?

The company aims to address the refueling needs of the automotive and long-haul trucking markets by deploying hydrogen fueling infrastructure.

What is the stock symbol for PowerTap Hydrogen Capital Corp.?

The stock symbol for PowerTap Hydrogen Capital Corp. is MOTNF.