- Clean Power Capital Corp. (formerly known as Organic Flower Investments Group Inc.) is a British Columbia-based holding company with investments in a variety of sectors and a growing interest in the U.S. marketplace
- The company recently announced the formation of a strategic committee to examine possibilities for building its investor profile in the United States, including the merits of a potential application to trade its common shares on the NASDAQ exchange
- Clean Power Capital invested in 90 percent of U.S. company PowerTap Hydrogen Fueling this year as part of its drive to grow its investments in the health and renewable energy industries
- PowerTap is currently beginning to build what it hopes will become a 500-strong hydrogen refueling station network across California employing PowerTap’s modular IP
- The state of California, which boasts the world’s fifth-largest economy, is supporting the development of alternative fuels such as hydrogen through financial incentives, helping to drive market researchers at McKinsey & Company’s forecasts that hydrogen could generate $140 billion in annual revenue by 2030
Investment holding company Clean Power Capital (CSE: MOVE) (FWB: 2K6) (OTC: MOTNF), whose corporate purpose is to help a select set of private and public companies grow to meet their potential, particularly in the health and renewable energy industries, announced recently Dec. 3 that the company is considering the potential benefits of uplisting to the NASDAQ as part of a strategic effort to improve its investor profile in the United States.
Clean Power Capital, based on Canada’s western seaboard, has 10 investments in a variety of sectors and successfully held nearly C$120 million in investments during the past fiscal year.
Earlier this year, it invested in PowerTap Hydrogen Fueling, a company that employs its IP in fueling stations in California, Texas, Massachusetts, and Maryland and the company. Its current focus is on using its onsite steam methane reforming (“SMR”) hydrogen production and dispensing modular units to build a strong network of at least 500 hydrogen fuel stations throughout California and then to expand across the United States in a phased development approach.
Clean Power’s strategic committee will review and develop a new capital markets strategy focused on the United States, according to the company’s announcement. The possibility of listing common shares on the NASDAQ exchange is subject to a number of regulatory and listing requirements, and the company will seek the assistance of a financial adviser to assess the opportunity potential a NASDAQ listing might bring if NASDAQ were to grant a Clean Power application.
CEO Joel Dumaresq stated a NASDAQ uplisting seems like a “natural next step” as part of the company’s efforts to generate maximum returns from its investments because of the increased visibility and opportunities to draw new investors an uplisting is expected to provide, and the increased liquidity of the company’s shares as a result.
The technology-developing company continues to maintain the listing of its common shares on the Canadian Securities Exchange under the symbol “MOVE.” It is not establishing a deadline for the strategic committee’s review of Clean Power’s capital markets strategy.
Clean Power’s equity investment in PowerTap is helping that company to roll out a third-generation improvement of its onsite hydrogen production and dispensing technology for hydrogen trucks and cars in the United States.
PowerTap believes it has a market advantage because of the characteristics of its technology’s modular design, which allow it to be assembled and tested prior to delivery. This further simplifies the installation of the technology at already operating sites where suitable zoning permits for the technology are in place, allowing the company a comparatively rapid response to setup and inspection needs (https://ibn.fm/ZAME8).
The modular design allows the station technology to be mass produced, to be easily upgraded with new tech developments, and to be relocated if necessary, PowerTap states.
Hydrogen fuel is one of the go-to solutions pursued by governments such as California’s in an effort to reduce the world’s dependence on fossil fuels amid concerns about pollutants’ adverse impacts on the global climate. The state, with one of the world’s largest economies, is providing significant financial incentives to help the fuel alternative develop and stations are increasing in number and size as a result (https://ibn.fm/dhzbi).
Clean Power’s focus on health and renewable energy industries is tapping into the swelling worldwide concern about the climate and people’s wellness in general (https://ibn.fm/2MC52), exemplified by global accords on the climate in Europe and Asia’s heavy investment in energy alternatives (https://ibn.fm/qsmM7).
Market researchers at McKinsey & Company recently predicted that the hydrogen economy could meet 14 percent of total American energy demand by 2050, generating $140 billion in annual revenue by 2030 (https://ibn.fm/KojE1).
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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