REPEAT -- PowerTap’s 49% owned AES CEO Pinakin Patel Joins PowerTap Advisory Board

Rhea-AI Summary

PowerTap Hydrogen Capital Corp (OTC: MOTNF) announced the appointment of Mr. Pinakin Patel to its Advisory Board. Mr. Patel is the CEO of Advanced Electrolyzer Systems, a 49%-owned subsidiary, and brings over 40 years of experience in the hydrogen industry. He has a vast R&D portfolio exceeding $600 million and numerous patents. His prior work includes leading a successful public-private partnership to develop a tri-generation technology for hydrogen production. This appointment aims to enhance the commercialization of hydrogen technologies at PowerTap.

Positive

• Mr. Pinakin Patel's extensive experience in the hydrogen energy sector enhances PowerTap's leadership.
• His appointment may expedite the commercialization of advanced hydrogen technologies.

Negative

• Potential gaps in continuity since Mr. Patel is newly appointed to the Advisory Board.
• Dependence on Mr. Patel's vision and capability for successful commercialization may pose risks.

VANCOUVER, British Columbia, Oct. 18, 2021 (GLOBE NEWSWIRE) -- PowerTap Hydrogen Capital Corp (NEO: MOVE) (FWB: 2K6) (OTC: MOTNF) (“PowerTap” or the “Company”) is pleased to announce that Mr. Pinakin Patel, CEO of the Company’s 49 percent owned Advanced Electrolyzer Systems (“AES”), has been appointed to the PowerTap Advisory Board. Mr. Patel is also the Co-Founder and President of T2M Global, which specializes in bringing technology to market with a portfolio of about a dozen companies focusing on advanced hydrogen energy, hydrogen fuel cells and Waste-to-Value. T2M Global will provide the foundation for the commercialization of hydrogen technologies by PowerTap and AES.

Mr. Patel is an excellent addition to the PowerTap Advisory Board given his significant depth in the industry encompassing over 40 years of experience in the hydrogen and fuel cell industry with a $600+ million R&D/advanced technology portfolio with over 30 patents and more than 200 invited presentations and papers. As part of a public-private partnership, he developed an award-winning demonstration in which he pioneered a tri-generation technology for the co-production of green hydrogen, clean power and heat at a Fountain Valley, CA waste-water treatment plant. This $18 million public-private project was led by the world’s largest manufacturer of hydrogen, Air Products and Chemicals, Inc., and included Fuel Cell Energy, Inc., the University of California at Irvine, the US Department of Energy, and several California State agencies. The Tri-generation Energy Station refueled hydrogen fuel cell cars by GM, Toyota, Honda, Hyundai, Mercedes, and Nissan, as well as fuel cell trucks from Vision Motors. The dispensing station had the capability to dispense hydrogen at 350 bar and 700 bar.

Mr. Patel was also a member of the Hawaii Hydrogen Initiative led by GM, a public-private partnership with over a dozen members including the US Department of Energy, the Department of Defense, Hawaii Gas, the University of Hawaii, the University of California at Irvine, the National Renewable Energy Laboratory, and many others.

Mr. Patel’s commercialization experience includes the leading of fuel cell demonstrations, technology collaborations and the development of supply chain in the US, Canada, Japan, South Korea, Germany, and Denmark. The multi-national corporations involved included BASF, Sempra, Siemens-Westinghouse, Fluor Engineers, ExxonMobil, NRG, Enbridge, Mitsubishi, Sanyo, Marubeni, POSCO Energy, Daimler-MTU, and Haldor Topsoe.

Further, Mr. Patel brings valuable supply chain depth for modular hydrogen plants, including developing strategic alliance opportunities for major green or blue hydrogen components [i.e., low pressure, moderate pressure and high-pressure steam methane reformers, hydrogen purification, hydrogen compression – low pressure (10-30 bar), commercial pressure (200 bar) and high pressure (350-900 bar), hydrogen station dispensers and hydrogen mobile refuelers (350 bar and 700 bar)].

“We are ecstatic to have Pinakin on our Advisory Board with his extensive experience and leadership in the hydrogen industry to head up the effort to commercialize AES and other related hydrogen technologies”, 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.

www.PowerTapcapital.com
www.PowerTapfuels.com 

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.

PR Contact:
Ajay Bruno
Account Director | AMW PR
c: 732.546.4287 o: 212.542.3146
ajay@amwpr.com

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, expectations and objectives for AES-100 Inc. and the AES technology that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of PowerTap. Some assumptions include, without limitation, the ability to develop the AES technology to commercially extract hydrogen from natural gas pipelines and the ability of AES-100 Inc. or the Company 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

Who is Pinakin Patel and what is his role at PowerTap?

Pinakin Patel is the CEO of Advanced Electrolyzer Systems, a subsidiary of PowerTap, and has been appointed to the PowerTap Advisory Board to enhance their hydrogen technology commercialization.

What does PowerTap aim to achieve with Mr. Patel's appointment?

PowerTap aims to leverage Mr. Patel's extensive experience to accelerate the commercialization of hydrogen technologies.

What does Mr. Patel's experience in the hydrogen industry include?

Mr. Patel has over 40 years in the hydrogen and fuel cell industry, with a $600 million R&D portfolio and numerous patents.

What is the significance of Mr. Patel's previous projects?

Mr. Patel has led successful projects, including a tri-generation technology for hydrogen, which showcases his capability in advancing hydrogen solutions.

How might Mr. Patel's role impact PowerTap's future?

His leadership and industry connections could lead to significant advancements in hydrogen production and infrastructure for PowerTap.