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PowerTap Hydrogen Capital Corp (symbol: MOTNF) is a leading company in the hydrogen fuel industry, specializing in the production and distribution of clean energy solutions. With a focus on sustainability and innovation, PowerTap is committed to reducing carbon emissions and promoting a greener future. The company's cutting-edge technology and strategic partnerships position it as a key player in the transition to renewable energy sources. PowerTap's recent achievements include successful product launches, expansion into new markets, and strong financial performance. As a reliable and forward-thinking company, PowerTap Hydrogen Capital Corp continues to drive positive change in the energy sector.
PowerTap Hydrogen Capital Corp. (OTC: MOTNF) has reported significant advancements from its subsidiary, PowerTap Hydrogen Fueling Corp., in engineering and supply chain validation for hydrogen refueling stations. In partnership with T2M Global, the company is progressing on the PowerTap Gen3 Modular Hydrogen Production and Dispensing Unit (MHPDU). They have responded to a $4.3 million RFP for implementing near-zero emissions freight technologies in Los Angeles. The Fortuna station's construction is expected to start in Q3 2023, while the Carmel Center station is set for Q2 2023 entitlements and Q4 2023 permits.
PowerTap Hydrogen Capital Corp. (OTC: MOTNF) updates on a joint venture (JV) with Alkaline Fuel Cell Power Corp. (AFCP) to develop a pilot project aimed at blending hydrogen with natural gas. This initiative seeks to reduce CO2 emissions, providing proof of concept for technologies that target the residential and commercial sectors. PowerTap holds a 49% stake in Progressus Clean Technologies, which focuses on hydrogen extraction. The JV is strategically positioned to support future growth and partnerships, primarily in North America.
PowerTap Hydrogen Capital Corp. (OTC: MOTNF) has engaged T2M Global as its engineering partner to validate its Gen3 Modular Hydrogen Production and Dispensing Unit (MHPDU). This collaboration aims to enhance manufacturing efficiency and reduce costs amid rising demand for hydrogen refueling stations. PowerTap recently completed a private placement, raising $1 million through the issuance of 6.67 million units at $0.15 each. The proceeds will be utilized for working capital. T2M's expertise is expected to accelerate the deployment of hydrogen infrastructure in the U.S.
PowerTap Hydrogen Capital Corp. (OTC: MOTNF) announced its expansion plans driven by the US Inflation Reduction Act of 2022, which allocates $369 billion for energy initiatives. The Act allows PowerTap to qualify for tax credits, paying up to $3 per kg for clean hydrogen production, contingent upon lifecycle emissions. Blue hydrogen is emphasized as a key solution for the US market, with the company planning to leverage abundant natural gas resources. CEO Raghu Kilambi highlighted the importance of this legislation in enhancing hydrogen infrastructure beyond California.
PowerTap Hydrogen Capital Corp. (OTC: MOTNF) announces an expansion opportunity following the US Inflation Reduction Act (IRA) of 2022, which allocates $369 billion for energy and climate programs. This act offers federal tax credits up to $3 per kilogram for hydrogen producers, incentivizing investment in clean hydrogen projects. PowerTap aims to leverage these tax credits to develop its hydrogen infrastructure beyond California, focusing on blue hydrogen as a cost-effective solution for the US market amidst a growing demand for hydrogen fueling stations.
PowerTap Hydrogen Capital Corp. (OTC: MOTNF) has announced significant advancements in its 49% owned subsidiary, Progressus Clean Technologies. Progressus' unique Advanced Electrolyzer System (AES) promises up to 70% energy savings in hydrogen production compared to conventional methods. The global green hydrogen market is projected to reach $72 Billion by 2030, growing at a 54.7% CAGR. Major utilities worldwide are integrating hydrogen into their natural gas grids. An LOI with BioQuest Corp aims for a potential acquisition of Progressus, which holds valuable intellectual property for hydrogen extraction.
PowerTap Hydrogen Capital Corp. (OTC: MOTNF) provided an update on municipal approvals and corporate activities of its subsidiary, PowerTap Hydrogen Fueling Corp. The company has submitted a design review application for a hydrogen refueling station in Monterey County and anticipates a hearing in October 2022. Additionally, PowerTap is forming partnerships with fuel cell vehicle manufacturers and technology partners to advance its hydrogen production technology. The company also plans to issue 8,256,701 common shares related to a sponsorship agreement, valued at $0.115 per share.
PowerTap Hydrogen Capital Corp. has appointed Mr. William O’Banion to its Advisory Board. O’Banion brings over 27 years of experience in business development, particularly in advanced automation within the Oil and Gas and Semiconductor sectors. His expertise spans various markets, including alternative fuels and renewable energy. His previous roles led to nearly USD $2 billion in revenue. The CEO, Raghu Kilambi, expressed excitement about O’Banion's addition, highlighting his strategic knowledge and industry connections that will support PowerTap's growth in hydrogen fueling infrastructure.
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.
PowerTap Hydrogen Capital Corp (OTC: MOTNF) announced a letter of intent for BioQuest Corp to acquire Progressus Clean Technologies, a company PowerTap partially owns (49%). Progressus specializes in green hydrogen technologies, particularly an Advanced Electrolyzer System for hydrogen production from dilute syngas. The proposed transaction aims to enhance BioQuest's capabilities in the hydrogen market, with details to follow after the definitive agreement. This acquisition positions BioQuest to leverage Progressus's innovative, cost-effective hydrogen solutions in the growing green energy sector.
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