Clean Power (NEO: MOVE) (FWB: 2K6) (OTC: MOTNF) has announced that, effective June 1, 2021, it will transition from an investment issuer to a single-purpose company. As part of that transition, the company will redeploy its assets and resources to be a single-purpose hydrogen technology company. As part of that process, the company will reorganize operating assets, nonhydrogen investments and other resources with the purpose of focusing on the design, build, installation and operation of hydrogen dispensing units for hydrogen-fueled vehicles. The company has filed a material change report reflecting the change. The change in focus will be facilitated through Clean Power’s wholly owned subsidiary, PowerTap Hydrogen Fueling Corp. Clean Power has been developing a hydrogen fueling station network since its acquisition of PowerTap, including engineering and design as well as ongoing development of its PowerTap 3.0 hydrogen dispensing units. “We are excited to transition to becoming a single purpose company to focus solely on the hydrogen fueling technology business,” said Clean Power CEO Raghu Kilambi in the press release. “This transition signals to the market that we are fully committed to growing our business to become one of the leaders in the hydrogen fueling industry. With our focus being directly targeted to the development of our PowerTap 3.0 hydrogen dispensing units and the subsequent rollout at gas stations and truck stops, we look forward to sharing our advancements to the market as milestones are achieved.”
To view the full press release, visit
https://ibn.fm/GhVZS
About Clean Power Capital Corp.
Clean Power, through its owned subsidiary, PowerTap Hydrogen Fueling Corp., 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 lacks hydrogen fueling infrastructure. Currently fewer than 100 operational publicly available hydrogen stations exist in the United States, with most of those stations purchasing industrial hydrogen from industrial manufacturers and shipping hydrogen to individual stations via tanker trucks. For more information about the company, please visit
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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