Clean Power Capital Provides Update on Its Investment in FusionOne‘S Waste to Electricity and Hydrogen Technology
Clean Power Capital Corp. (OTC: MOTNF) provided an update on its investment in FusionOne Energy Corp., which focuses on converting plastic waste into hydrogen and electricity. FusionOne has initiated production of its HydroPlas reactor, aimed for delivery by Q3 2021, and is preparing its facility in Detroit. The technology addresses both plastic waste and clean energy demands. Clean Power emphasizes the potential synergy between FusionOne and its subsidiary PowerTap, enhancing opportunities in the hydrogen sector.
- Initiation of production for HydroPlas reactor by FusionOne, enhancing hydrogen production capabilities.
- Strategic location of FusionOne's facility in Detroit, reducing logistics costs due to proximity to plastic waste feedstock.
- Potential for collaboration between FusionOne's and PowerTap's technologies, which may lead to innovative solutions in hydrogen production.
- None.
VANCOUVER, British Columbia and IRVINE, Calif., May 05, 2021 (GLOBE NEWSWIRE) -- Clean Power Capital Corp. (CSE: MOVE)(FWB: 2K6)(OTC: MOTNF) (“Clean Power” or the “Company” or "MOVE"). The Company is pleased to provide an update on its investment in FusionOne Energy Corp. (“FusionOne”), a producer of technologies primarily for the conversion of plastic waste to hydrogen and clean electricity.
FusionOne has instructed the fabrication facility to begin the production of its HydroPlas continuous cycle reactor, the center of its efficient Hydrogen producing system as well as the supporting proprietary technologies to be delivered in Q3 2021. FusionOne is striving to fit out its pre-commercialization site in Detroit, Michigan for its readiness to receive the first Hydroplas reactor. The FusionOne facility is situated in a feedstock (plastic waste) rich area in Detroit, Michigan, which reduces ongoing logistics cost for the transportation industry as well as being the home of the Big Three Automakers.
The combination of site preparation and manufacture of the FusionOne system is the first step in tackling the plastic pandemic and supports the shift to clean energy production.
FusionOne CEO, Elliott Talbott, comments “FusionOne is taking the initial steps to deploying its game changing HydroPlas technology with the aim of tackling two global problems at once. Our team is excited to be taking these pre-commercialization efforts and looks forward to giving further updates as progress is made.”
President of PowerTap, Clean Power Capital’s largest subsidiary, Salim Rahemtulla noted “FusionOne’s patent-pending waste to white hydrogen and electricity is a complementary technology to PowerTap’s Gen3, which produces and dispenses blue hydrogen and provides potential cross-development opportunities.”
About FusionOne
FusionOne is a privately owned end-to-end technology and operations company specializing in renewable electricity, white hydrogen production and thermal processing technologies. Deployment of their commercial system will result in thousands of tons of waste being diverted to a clean and profitable energy stream. FusionOne’s team brings decades of experience in emerging technologies and research and development of the most advanced solutions to the energy sector. To register interest in FusionOne’s technologies visit https://www.fusionone.co/.
ABOUT CLEAN POWER CAPITAL CORP.
Clean Power is an investment company that specializes in investing into private and public companies opportunistically that may be engaged in a variety of industries, with a current focus in the health and renewable energy industries. In particular, the investment mandate is focused on high return investment opportunities, the ability to achieve a reasonable rate of capital appreciation and to seek liquidity in our investments. A copy of Clean Power’s amended and restated investment policy may be found under the Company’s profile at www.sedar.com.
Learn more about Clean Power by visiting our website at: https://cleanpower.capital/
NEITHER THE NEO EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
FusionOne Contact
Elliott Talbott
Elliott@fusionone.co
PR Contact
Vito Palmeri AMW PR
c: 347.471.4488 | o: 212.542.3146
vito@amwpr.com
Investor Contact:
Tyler Troup, Circadian Group IR
MOVE@circadian-group.com
Clean Power Contact
Raghu Kilambi
raghu@hydrogenfueling.co
+1 (604) 687-2038
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 Clean Power. 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 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.
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