UPDATE Clean Power Capital Corp.
VANCOUVER, British Columbia and NEWPORT BEACH, Calif., Dec. 08, 2020 (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 the activities of its previously announced investment in PowerTap Hydrogen Fueling Corp. (“PowerTap”). PowerTap is introducing an innovative carbon capture system to its patented PowerTap onsite steam methane reformation hydrogen production to generate blue hydrogen.
The majority of Hydrogen in the USA is produced utilizing Steam Methane Reformer technology (SMR) and utilizes natural gas as its primary feedstock. This process provides the lowest cost per kilogram for the production of Hydrogen of any other method currently commercially available today. However, the production of this Grey Hydrogen has a major byproduct called CO2 (carbon dioxide) which is a very destructive greenhouse gas. As described in the article, “Estimating The Carbon Footprint of Hydrogen Production,” dated June 6, 2020, the amount of CO2 generated is massive, almost a nine to one ratio CO2 to Hydrogen produced1. It is critical to contain carbon dioxide from entering the atmosphere to protect the environment and meet the standard necessary to produce blue hydrogen.
Carbon capture systems are designed to eliminate the release of CO2 by various means from sequestration, absorption and/or by producing a chemical reaction to consume all of the CO2. However, the fact is that all of these methods have their own challenges and offsets. PowerTap utilizes a unique process that creates a chemical reaction that not only disposes of the CO2 but in the process creates clean renewable electricity that can be fed back into the local electric grid or used to create a unique renewable micro grids for local power distribution. This solution has never been available in a small scale Hydrogen production solution and will be the first deployed in support of PowerTap’s modular Hydrogen fueling stations in the U.S.
“We strongly believe the combination of Steam Methane Reformer technology and Carbon Capture System produces one of the greenest Hydrogen commercially available today”, said Kelley Owen, PowerTap’s Chief Operating Officer. “Furthermore, to substantiate these claims we would refer people to the Department of Energy’s Wells to Wheels Record #9002, ‘Well-to-Wheels Greenhouse Gas Emissions and Petroleum Use,’ dated March 25, 20092, which shows that Hydrogen produced utilizing Steam Methane Reformer (SMR) technology in conjunction with Carbon Capture Systems produce less than one fourth the GHG (greenhouse gas) of Electrolysis systems powered off the U.S. electricity grid. We look forward to building out the Hydrogen Highway of today by producing fuel at the lowest possible cost, while providing a greener solution on a large scale commercially available in urban markets to support the refueling of vehicles and fleets across the U.S.”
About PowerTap
The Company invested in PowerTap on October 27, 2020 (see the Company’s news release on October 28, 2020). PowerTap is leading the charge to build out cost-effective hydrogen fueling infrastructure through its environmentally friendly intellectual property, product design for the modularized and lowest tier production cost of hydrogen, and launch plan. PowerTap technology-based hydrogen fueling stations are located in private enterprises and public stations (near LAX airport) in California, Texas, Massachusetts, and Maryland. Additional information about PowerTap and the Hydrogen Industry may be found at its website at https://www.powertapfuels.com
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.
ON BEHALF OF THE CLEAN POWER CAPITAL CORP. BOARD OF DIRECTORS
“Joel Dumaresq”
Joel Dumaresq CEO
+1 (604) 687-2038
info@cleanpower.capital
Learn more about Clean Power by visiting our website at: https://cleanpower.capital/
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