- British Columbia-based investment holding company Clean Power Capital Corp. recently held its annual general and special meetings of shareholders
- Shareholders voted to sustain the company’s new investment directive, which includes focusing on renewable power initiatives and bio-medical plus naturopathic sectors
- Clean Power’s CEO announced his resignation following the meeting and he will be succeeded by majority-owned investee PowerTap Hydrogen Fueling Corp.’s CEO
- The company has also launched two new marketing initiatives to increase its investment profile with the general public
- PowerTap appointed a former Shell Oil Products US executive to its advisory board
Holding company Clean Power Capital (NEO: MOVE) (FWB: 2K6A) (OTC: MOTNF) charted a new course amid last year’s pandemic-depressed months, turning its stated mission to the renewable energy sector as an area of investment focus and placing special emphasis on its majority equity-owned investee PowerTap Hydrogen Fueling Corp. On Monday, March 15, the company held its Annual General and Special Meeting at which shareholders approved the company’s amended and restated investment policy.
Following the meeting, Clean Power CEO Joel Dumaresq stepped down from his position with the company but will continue to function as Clean Power’s chief financial officer on an interim basis. Raghunath (Raghu) Kilambi, the CEO and CFO of PowerTap Hydrogen, was named the new CEO and president of Clean Power in Dumaresq’s place (https://ibn.fm/IscOe). Kilambi continues to function as PowerTap’s CEO as well.
PowerTap has seen the strength of its platform rise under Kilambi’s leadership in recent months, particularly through agreements that have brought the powerhouse Andretti Group into partnership with the company for fuel station sites, marketing and board leadership (https://ibn.fm/65EHI).
Kilambi has over 25 years of global business experience in public and private investments, building businesses and creating shareholder value. He has raised more than $1 billion of equity and debt capital for private and public companies in the United States and Canada, and has been involved in many M&A acquisitions and exits. His experience with investments in emerging technologies will be an asset for Clean Power as it continues to seek additional investment opportunities under its new mission statement.
That investment policy specifically states the company will focus on renewable energy, which may include, without limitation, hydrogen & fuel cell technologies, wind power, solar power and geothermal power; and bio-medical, pharmaceutical, and naturopathic sectors, which may include medical or recreational cannabis.
Clean Power has also announced a pair of decisions to advance its investment profile among the public. The company entered into an investor relations advisory services agreement on March 10 with 1830012 Ontario Limited, operating as Circadian Group to create a customized positive investment image and communicate that image to the investment community. In addition, the company retained Mountain Capital Corp. on March 8 to provide strategic digital media services, as well as marketing and data analytics services, for a three-month period, according to the annual meeting news release.
PowerTap also announced development of its advisory board through the appointment of David Bray, former corporate officer/general manager of Shell Oil Products US. Bray’s company, Bray Retail Consulting, LLC will also join PowerTap in a consulting role under an exclusive one-year assignment.
The consultancy will focus on critical product development and services to accelerate the deployment of PowerTap’s proprietary modular 1,250 kg hydrogen production and dispensing technology as part of a planned hydrogen fueling station network launching in California with the Andretti Group’s assistance. The company will then use Andretti’s connections to build the network into other parts of the country.
Bray is a seasoned Shell executive whose more than 30 years in the industry included serving as the general manager of several groups at Shell, including Strategy/Business Development, Fuels and Marketing, and Americas Aviation.
“Regarding hydrogen, we are at the starting line in terms of the growth opportunity for its use as a transportation fuel. I believe that hydrogen will play a critical role in meeting the energy needs of the Americas going forward,” he stated.
For more information, visit the company’s website at www.CleanPower.Capital.
NOTE TO INVESTORS: The latest news and updates relating to MOTNF are available in the company’s newsroom at https://ibn.fm/MOTNF
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