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VANCOUVER, British Columbia and IRVINE, Calif., July 08, 2021 (GLOBE NEWSWIRE) — PowerTap Hydrogen Capital Corp. (NEO: MOVE)(FWB: 2K6)(OTC: MOTNF) (“PowerTap” or the “Firm” or “MOVE”) is happy to announce that its wholly-owned subsidiary, PowerTap Hydrogen Fueling Corp. (“PowerTap Fueling”) has accomplished the engineering design of the PowerTap Gen3 making vital enhancements in its steam methane reformer (SMR) that will increase the manufacturing of hydrogen, reduces feedstock necessities, and extends the lifetime of the SMR. The design of the SMR stays topic to revisions, pending the profitable manufacturing of a prototype that achieves all the functionalities as supposed. The diagram beneath illustrates the present design of the SMR.
Particular improvements embrace:
- The advance of warmth switch inside the water gasoline shift reactor vessel recognized within the beneath diagram through reactor tube design and use of a novel warmth reflective coating contained in the vessel. The advance of warmth switch inside the reactor vessel reduces the quantity of feedstock gasoline wanted to supply hydrogen and significantly enhances the separation of hydrogen from the feedstock within the course of.
- The discount of the reactor temperature and strain which reduces the general stress on the vessel and tube system and extends the lifetime of the system from ten years to over 15 years.
- The burning of the syn gasoline from the shift reactor which reduces the amount of renewable pure gasoline feedstock required and reduces greenhouse gasoline emitted into the environment.
- The rise of the general life span of the SMR from 10 years to fifteen years by means of development and enchancment within the catalyst and, discount of the water gasoline shift reactor vessel temperature and strain.
The effectiveness of the enhancements to the SMR design as talked about above, stay topic to testing throughout the manufacturing course of, and could also be amended as required.
With the completion of engineering design, the Firm is within the technique of finalizing preparations for the manufacturing of the prototypes of the PowerTap Gen3 unit. The Firm will present updates on this section when materials developments happen. The Firm can also be finalizing its pre-application packages for the primary three websites within the California counties of Monterey and Humboldt to submit in Summer season 2021. The corporate’s efforts over the subsequent few months will likely be centered on working intently with the California Hydrogen Enterprise Council (CHBC) and the California Governor’s Workplace of Enterprise and Financial Growth (GO-Biz), to course of the applying and, individually, acquiring authorization for its Low Carbon Gasoline Normal (LCFS) Hydrogen Refueling Infrastructure (HRI) credit from the California Air Sources Board (CARB).
Kelley Owen, Chief Working Officer of PowerTap Fueling, said, “The incorporation of those main design adjustments to the present purposes characterize vital enchancment within the manufacturing of hydrogen right this moment.”
ABOUT POWERTAP HYDROGEN CAPITAL CORP.
PowerTap Hydrogen Capital Corp., by means of its wholly-owned subsidiary, PowerTap Hydrogen Fueling Corp. (“PowerTap”), is targeted on putting in hydrogen manufacturing and meting out fueling infrastructure in america. PowerTap’s patented resolution has been developed over 20 years. PowerTap is now commercializing its third technology blue hydrogen product that may give attention to the refueling wants of the automotive and lengthy haul trucking markets that lack hydrogen fueling infrastructure. There are presently beneath 100 operational publicly accessible hydrogen stations in america with a lot of the present stations buying industrial hydrogen from industrial producers and delivery hydrogen to particular person stations through tanker vans.
PowerTap Hydrogen frequent shares are listed on the NEO Alternate. Please go to the corporate’s profile on the NEO Alternate web site at https://www.neo.inc/en/live/security-activity/MOVE#!/market-depth.
PR Contact:
Dave Brown AMW PR
c: (917) 543-1050
dave@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.
Discover Relating to Ahead Wanting Data:
This press launch incorporates “forward-looking statements” or “forward-looking info” (collectively referred to herein as “forward-looking statements”) inside the that means of relevant securities laws.
Particularly, this information launch incorporates forward-looking statements regarding, however not restricted to: the profitable design and set up of the PowerTap fueling models, the supply of RNG feedstock to supply blue hydrogen, PowerTap changing into eligible to earn HRI credit beneath the LCFS carbon credit score program, the liquidity of a secondary market to promote the carbon credit, forecasts, estimates, expectations and goals for future operations. These forward-looking statements are topic to plenty of assumptions, dangers and uncertainties, lots of that are past the management of PowerTap. Some assumptions embrace, with out limitation, the event of hydrogen powered automobiles by car makers, the adoption of hydrogen powered automobiles by the market, laws and rules favoring the usage of hydrogen as a substitute vitality supply, the qualification for carbon credit, the Firm’s capacity to construct out its deliberate hydrogen fueling station community, and the Firm’s capacity to boost enough funds to fund its marketing strategy. Ahead-looking statements are statements that aren’t historic details and are typically, however not at all times, recognized by the phrases “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “tasks”, “potential” and related expressions, or that occasions or situations “will”, “would”, “could”, “may” or “ought to” happen or be achieved. This press launch incorporates forward-looking statements pertaining to, amongst different issues, the timing and skill of the Firm to finish any potential investments or acquisitions, if in any respect, and the timing thereof. Ahead-looking info is predicated on present expectations, estimates and projections that contain plenty of dangers, which may trigger precise outcomes to range and, in some situations, to vary materially from these anticipated by the Firm and described within the forward-looking info contained on this press launch.
Though the Firm believes that the fabric elements, expectations and assumptions expressed in such forward- trying statements are affordable based mostly on info accessible to it on the date such statements had been made, no assurances might be given as to future outcomes, ranges of exercise and achievements and such statements should not ensures of future efficiency.
The forward-looking info contained on this launch is expressly certified by the foregoing cautionary statements and is made as of the date of this launch. Besides as could also be required by relevant securities legal guidelines, the Firm doesn’t undertake any obligation to publicly replace or revise any forward- trying info to replicate occasions or circumstances after the date of this launch or to replicate the incidence of unanticipated occasions, whether or not on account of new info, future occasions or outcomes, or in any other case.
A photograph accompanying this announcement is offered at https://www.globenewswire.com/NewsRoom/AttachmentNg/d92f6cf1-4254-41a1-8d3b-3bd0e94d44df
