PowerTap Hydrogen Capital (NEO: MOVE) (OTC: MOTNF), a leading provider of on-site hydrogen production technology, entered into a letter of intent (“LOI”) with Newport Realty Group (“NRG”), a California-based real estate development firm, to operate a future PowerTap hydrogen fueling station. According to the announcement, the station will be located in Yermo, California, and will help to provide clean, reliable energy solutions for both light-duty fuel cell electric vehicles (“FCEVs”) and battery electric vehicles (“BEVs”) along with traditional gasoline-powered vehicles; the lease is subject to a definitive agreement. The company noted that NRG currently has plans to develop several retail/energy plazas along Interstate 15, stretching from Los Angeles to Las Vegas and beyond through Nevada and Utah. These sites will feature microgrids for battery electric charging along with petrol stations servicing gasoline and diesel vehicles; the locations will also offer drive-thru restaurants, convenience stores, food halls, public-private lounges and rest areas. “We are thrilled to partner with Newport Realty Group to bring the benefits of clean and sustainable hydrogen energy to consumers and businesses across the west coast,” said PowerTap president and CEO Salim Rahemtulla in the press release. “Our on-site hydrogen production stations will provide a reliable and efficient fuel source for FCEVs and FCETs, while the retail energy centers developed by NRG will offer convenient and accessible charging options for BEVs and traditional gasoline-powered vehicles.”
To view the full press release, visit https://ibn.fm/82Nfo
About PowerTap Hydrogen Capital Corp.
PowerTap Hydrogen, through its wholly 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, which will focus on the refueling needs of the automotive and long-haul trucking markets that lack hydrogen fueling infrastructure. 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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