Global Hydrogen Expert Appointed Chairman of Advisory Board for Progressus Clean Technologies, a 49% Subsidiary of PowerTap Hydrogen
April 12 2022 - 12:01AM
PowerTap Hydrogen Capital Corp (NEO: MOVE) (FWB: 2K6B)
(OTC: MOTNF) (“PowerTap” or the “Company” or “MOVE”) is
pleased to announce that its 49%-owned subsidiary, Progressus Clean
Technologies, formerly AES-100 Inc. (“
PCT”), has
formed of a new advisory board to accelerate technology development
and commercialization of its market responsive hydrogen products.
Pinakin Patel has been appointed to the role of
chairman of the advisory board. Mr. Patel is a world renowned
hydrogen and fuel cell expert with more than 40 years of directly
applicable experience. In addition to his experience, he has an
extensive industry network, has contributed to more than 30
patents, and has received awards from prestigious organizations for
his many contributions in the hydrogen industry spanning the US
Department of Energy, the American Society of Mechanical Engineers,
the National Hydrogen Association, the State of Connecticut, the
Electrochemical Society, and others. Mr. Patel was also recently
elected as a board of director on the California Hydrogen Business
Council (CHBC), a national level organization consisting of over
140 companies engaged in every aspect of the hydrogen supply chain
worldwide as well as advocating for the commercialization of
low-carbon and green hydrogen technologies.
“Pinakin’s network in the hydrogen and fuel cell
space along with his expertise and direct experience with
Progressus technology is second to none,” said Channce Fuller,
President and CEO of Progressus. “His appointment to chair the
advisory board for Progressus is a catalyzing opportunity for us to
bring more and more experience to the venture.”
Mr. Patel has an extensive resume having raised
more than $500 million in R&D funding for advanced technology,
manufacturing and application development projects in USA, Canada,
Japan, Europe and Asia. His experience is in-depth spanning every
type of fuel cell and renewable power using a variety of sources
including waste-derived biogas, solar, wind and others. Of direct
benefit to Progressus, Mr. Patel has also supported dozens of
venture stage companies in the alternative energy space by
arranging supply chain coordination, strategic alliances and
funding. As the company continues to progress technology
development and commercialization, Mr. Patel’s first initiative
will be to fill out the remainder of the advisory board with
experts to ensure a successful product launch and market
penetration.
The Company will continue to keep the market
updated on the achievement of additional goals and milestones of
Progressus.
About Progressus Clean Technologies
Progress Clean Technologies (formerly AES-100
Inc.) is a venture stage green technology company focused on the
development of novel hydrogen generation and separation
technologies. Progressus Clean Technologies owns the exclusive
rights and intellectual property pertaining to the Advanced
Electrolyzer System for the production of hydrogen from dilute
syngas.
Progressus Clean Technologies Inc. is a private
company with ownership held by PowerTap Hydrogen Capital Corp.
(NEO: MOVE) (FWB:2K6B) (OTC: MOTNF), Aberdeen International (TSX:
AAB F: A8H, OTC: AABVF) and a minority position being privately
held.
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.
Investor Contact:Tyler Troup, Circadian Group
IRMOVE@circadian-group.com
PowerTap Contact:Raghu Kilambiraghu@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.
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 PowerTap and Progressus. Some assumptions include,
without limitation, statements regarding Progressus; the Progressus
technology; the global addressable market for hydrogen; the
effectiveness and timelines to deploy the Progressus home power
unit; reduction of risk for industrial applications of the
Progressus technology; the renewable energies sector and the
Company’s future plans. 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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