With some delays due to pandemic constraints, zoning approval is moving forward for the first Andretti station incorporating a PowerTap Gen3 MHPDU, located in
In reference to final engineering, PowerTap has engaged with T2M Global (“T2M”) to complete the final prototype engineering for manufacturing using the breadth of T2M’s technology development, commercialization, strategic advisory and business/supply chain development services. The T2M team has best in-class engineers with depth and significant expertise in hydrogen, specifically, the critical technical arenas of heat transfer, compression, and storage, as well as station deployment. T2M will work with our contract manufacturer, Capstone Green Energy, to develop and deploy a world class PowerTap manufacturing process in Capstone’s facilities.
Regarding PowerTap’s supply of renewable natural gas (“RNG”) or biomethane for production of hydrogen through the Gen3 MHPDU, the Company has established a non-binding letter of intent with an RNG vendor to provide supply of RNG through 2027 at very competitive pricing as it pursues its plan to deploy blue hydrogen MHPDUs across
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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 PowerTap. Some assumptions include, without limitation, the timing of and likelihood of the success of the zoning application; the timing for the completion of the MHPDU prototype; the availability of the supply of RNG; the global addressable market for hydrogen; the renewable energies sector and the Company’s future plans. 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.
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