Clean Power Capital (CSE: MOVE) (FWB: 2K6) (OTC: MOTNF), an investment company, commends the proposal by California Gov. Christopher Newsom to earmark $1.5 billion for companies to invest in the construction and maintenance of charging and hydrogen fueling infrastructure; that expenditure is part of Newsom’s $4.5 billion stimulus proposal for the 2021 state budget. That financial allocation indicates support of PowerTap’s plans for its hydrogen station permitting as the company anticipates rolling out initial hydrogen fueling stations later this year. Clean Power invested in PowerTap Hydrogen Fueling Corp. last year. PowerTap is working to ensure the rollout of it’s hydrogen stations are in complete accordance with state regulations and guidelines. PowerTap also plans to participate in the California Low Carbon Fuel Standard (“LCFS”) Carbon Credit program; in doing so, the company will be able to generate revenue from the sale of its earned LCFS credits. “PowerTap plans to launch hydrogen fueling station rollout in the second half of 2021 and will be announcing initial rollout partners in the near term,” said PowerTap CEO Raghu Kilambi in the press release. “California’s announced stimulus plans for hydrogen infrastructure supports PowerTap’s aggressive rollout strategy. In addition, with the incoming Biden Administration and the Democrats gaining control of the United States Senate with the win of control of the Senate with two key Senate runoff elections in the State of Georgia, PowerTap is optimistic that the US federal government will introduce new green initiatives that will include incentives and funding for the hydrogen infrastructure space.”
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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 its investments. For more information about the company, please visit www.CleanPower.Capital.
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