- November 23, 2020
- Posted by: Stratford Team
- Category: Markets
VANCOUVER, British Columbia, Nov. 23, 2020 (GLOBE NEWSWIRE) — Clean Power Capital Corp. (CSE: MOVE)(FWB: 2K6)(OTC: MOTNF) (“Clean Power” or the “Company” or “MOVE”). The Company is pleased to appoint Mr. Greg Nuttall to the advisory board of PowerTap Hydrogen Fueling Corp. (“PowerTap”), its 90 percent owned subsidiary.
Mr. Nuttall is one of the founding CEO’s of the world’s first waste-to-fuel company. As CEO of Toronto-based Woodland Biofuels (www.woodlandbiofuels.com) (“Woodland”), Mr. Nuttall has taken Woodland’s ground breaking automotive fuel technology from drawing board to proven production. Along the way he has forged relationships around the globe with governments, key financial players, oil and gas companies, engineering & construction firms, and feedstock providers. Woodland has raised significant institutional capital from USA and Canadian cleantech funds, strategic investors, and Canadian governments.
Prior to becoming CEO of Woodland, Mr. Nuttall was a partner at Rubicon Investment Group, a merchant bank focused on accelerating the growth of the companies it acquires and invests in. Before this Mr. Nuttall was co-founder and CEO of a leading management consulting firm that helps large and mid-sized organizations in Canada and the United States. At the outset of his career Mr. Nuttall was an M&A and corporate finance lawyer. As a lawyer he practiced at Clifford Chance, one of the world’s largest law firms, where he was based in London, and at Torys, a leading corporate law firm based in Toronto. Mr. Nuttall earned his Master of International Laws degree at Cambridge University and is a Pegasus Scholar.
“I’m excited to work with PowerTap Hydrogen Fueling Corp. as they roll out hydrogen fueling stations using their leading PowerTap fueling technology. Hydrogen has immense potential as a transport fuel. Most important, renewable hydrogen reduces GHG emissions substantially compared to gasoline. One of the main obstacles to hydrogen’s adoption has always been the lack of fueling infrastructure to deliver it to end users – this has created a huge opportunity for PowerTap‘s technology,” Mr. Nuttall said. He continued, “I look forward to helping PowerTap capitalize on this opportunity – to start, by helping to develop key strategic partnerships in North America and around the world.”
“Greg Nuttall is a visionary in the clean fuel industry and we are honored to have him join our Advisory Board as we look to deploy our PowerTap onsite hydrogen generation and fueling technology across North America and beyond,” said Mr. Raghu Kilambi, CEO of PowerTap Hydrogen Fueling Corp. “Mr. Nuttall will introduce to PowerTap existing relationships with large North American truck stop and gas station operators, North American cleantech funds and other strategic relationships that he has developed over the past 15 years in clean fuel energy.”
Clean Power also announces that Mr. Joe Perino has resigned from the board of directors of the Company, effective immediately. The Company would like to thank Mr. Perino for his contributions to the Company and wishes him well with his current projects.
The Company acquired a 90 percent interest in PowerTap on October 27, 2020 (see the Company’s news release on October 28, 2020). PowerTap is leading the charge to build out cost-effective hydrogen fueling infrastructure through its environmentally friendly intellectual property, product design for the modularized and lowest tier production cost of hydrogen, and launch plan. PowerTap technology-based hydrogen fueling stations are located in private enterprises and public stations (near LAX airport) in California, Texas, Massachusetts, and Maryland. Additional information about PowerTap may be found at its website at https://www.powertapfuels.com
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 our investments. A copy of Clean Power’s amended and restated investment policy may be found under the Company’s profile at www.sedar.com.
ON BEHALF OF THE CLEAN POWER CAPITAL CORP. BOARD OF DIRECTORS
Joel Dumaresq CEO
+1 (604) 687-2038
Learn more about Clean Power by visiting our website at: https://cleanpower.capital/
THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
Notice Regarding Forward Looking Information:
This press release contains “forward-looking statements” or “forward-looking information” (collectively referred to herein as “forward-looking statements”) within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Clean Power. Some assumptions include, without limitation, the development of hydrogen powered vehicles by vehicle makers, the adoption of hydrogen powered vehicles by the market, legislation and regulations favoring the use of hydrogen as an alternative energy source, the Company’s ability to build out its planned hydrogen fueling station network, and the Company’s ability to raise sufficient funds to fund its business plan. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur or be achieved. This press release contains forward-looking statements pertaining to, among other things, the timing and ability of the Company to complete any potential investments or acquisitions, if at all, and the timing thereof. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company and described in the forward-looking information contained in this press release.
Although the Company believes that the material factors, expectations and assumptions expressed in such forward- looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance.
The forward-looking information contained in this release is expressly qualified by the foregoing cautionary statements and is made as of the date of this release. Except as may be required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward- looking information to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.