NetworkNewsWire
Editorial Coverage: Cars and trucks powered by hydrogen, the
most abundant resource in the universe, are on the road now with
more planned and in production. Hydrogen power may well be the
solution to truly weaning from fossil fuels, turning the tide on
CO2 emissions and ushering in a new era of emission-free
transportation — but only if vehicles running on the power can find
fuel. Even with major automakers rolling out new hydrogen vehicles
and a wealth of hydrogen in the universe, there’s a serious
shortage of hydrogen fueling stations. With less than 100 public
hydrogen stations in the USA, hydrogen fueling stations are the
missing infrastructure critical to propel and sustain hydrogen
vehicle growth. Using patented next-generation technology,
Clean Power Capital Corp. (CSE: MOVE) (FWB: 2K6) (OTC:
MOTNF) (Profile) intends to rectify the
paucity of hydrogen fueling stations and become a powerful factor
as ever more hydrogen vehicles take to the road. Clean Power
Capital owns 94.5% of PowerTap Hydrogen Fueling Corp., which
builds, installs and supports low-cost, onsite hydrogen fueling and
dispensing units. PowerTap’s 2nd Generation technology has 14
installations already in place in the USA (which are not owned by
PowerTap Hydrogen Fueling Corp.). The company inked a deal in
January with the Andretti Group to install PowerTap’s 3rd
Generation modular hydrogen fueling stations starting in California
this year. This is just one of many partnerships planned with major
fueling networks to install hydrogen fuel technology at existing
locations across the nation, and the rollout can’t come too soon.
Toyota
Motor Corporation (NYSE: TM) recently revealed it has
developed and plans on selling a product this year that packages a
fuel cell system into a compact module. Integrating the main
components of a fuel cell makes it easily adaptable for rapid
development and manufacture of a variety fuel cell products.
Credited for creating the first commercially market for hydrogen
fuel cell technology, Plug
Power Inc. (NASDAQ: PLUG) is building the
hydrogen economy as a leading provider of comprehensive hydrogen
fuel-cell turnkey solutions. ITM
Power Plc (OTC: ITMPF) manufactures integrated
hydrogen energy solutions for grid balancing, energy storage and
the production of renewable hydrogen for transport, renewable heat,
and chemicals. And Nel ASA
(OTC: NLLSF) is a global hydrogen company dedicated to
delivering optimal solutions to produce, store and distribute
hydrogen from renewable energy.
- Shift to clean, safe, abundant, sustainable and cost-effective
hydrogen power is underway.
- Hydrogen-powered vehicles already on the road with more
passenger cars and trucks as well as long-haul trucks planned.
- Clean Power subsidiary PowerTap now owns 14 hydrogen fueling
stations; intends to build largest hydrogen fueling station network
in North America.
- PowerTap’s patented technology, unique business model give it
competitive advantages.
Click here to view
the custom infographic of the Clean Power
editorial.
Why Hydrogen?
Produced from diverse domestic resources, hydrogen is the most
abundant chemical substance in the universe and holds strong
promise for growth in both the transportation and energy sectors.
The abundance of hydrogen and the relative simplicity of use are
propelling a surge of new hydrogen vehicles, which use fuel cells
to create electric power.
Electric power is first generated in a fuel cell when hydrogen
and air are pushed into opposite sides of a fuel cell and the two
chemically react to produce electricity, water vapor and small
amounts of heat. Electricity then flows from the fuel cell to power
the vehicle’s electric motor. Hydrogen fuel cells are much cleaner
and more efficient than traditional internal combustion engines and
fossil fuel power plants.
Most power plants achieve about 35% efficiency, and internal
combustion engines operate around 25% efficiency. Comparatively,
stationary fuel cells when used in a combined heat and power
system, can reach efficiency levels of greater than 80%. Amazingly,
a fuel cell coupled with an electric motor is two to three
times more efficient than an internal combustion engine running
on gasoline. When hydrogen is used to power a fuel cell, the only
byproducts are water and heat - zero pollutants or greenhouse gases
are produced.
Powerful Combo
Clean Power
Capital Corp. (CSE: MOVE) (FWB: 2K6) (OTC: MOTNF) and its
subsidiary PowerTap is leveraging tens of millions of dollars of
historical invested capital in the PowerTap technology, a portfolio
of patented technologies and partnerships with major fueling
networks to meet coming demand as hydrogen vehicles hit the
highways. Recognizing the value of the technology and the massive
opportunity, Clean Power took a 94.5% equity stake in PowerTap in
the last year. PowerTap’s small-footprint SMR technology produces
blue hydrogen onsite at existing filling stations as opposed to
typical off-site production then delivers to a filling station.
Most hydrogen fueling stations buy offsite hydrogen and store
hydrogen at the station level at much higher costs, and Clean
Power is convinced that PowerTap’s unique model is exponentially
more scalable and cost effective.
PowerTap shares revenues with individual fueling stations as
well as partner major fueling networks in return for hosting
PowerTap Hydrogen fueling stations at their locations. By
partnering with and incentivizing major fueling networks to install
hydrogen fuel technology at existing locations, the unique PowerTap
business model simplifies and rapidly accelerates deployment.
Clean Power’s investment allowed PowerTap to ramp up efforts to
expand the hydrogen fueling station network in stages, starting
with engineering, design and further development of PowerTap’s
third-generation product, as well as licensing & permitting and
site preparation. The design of the PowerTap Gen3 hydrogen fueling
units station is less than half the size of the closest competitor,
easy to relocate if needed and able to quickly adopt other new
hydrogen production technologies since PowerTap can upgrade its
technology onsite.
Clean Power’s investment is already producing results. In
addition, the company just announced an update on the
third-generation PowerTap (Gen3) hydrogen fueling units, noting in
part that “PowerTap
Gen3’s advanced CCS [CO2 capture system] uses a unique process
incorporating a chemical reaction that consumes the CO2 and
produces excess hydrogen. This excess hydrogen is converted into
clean renewable electricity via a universal fuel cell and the
produced electricity can be fed back into the local electric grid
or used to create a renewable microgrid for local power
distribution via a universal fuel cell to power the gas/truck stop
facility at which the PowerTap unit is located.”
Majors Making Moves
Clean Power and PowerTap are quickly prepping for a tsunami of
expected demand illustrated by Toyota’s new
universal fuel cell, which makes it much easier for hydrogen
vehicle OEMs to launch new hydrogen-powered cars, trucks, boats,
motorbikes and virtually anything else previously powered by fossil
fuels. In addition to its effort to popularize fuel cell-powered
EVs, Toyota intends to continue to strengthen its initiatives as a
fuel cell system supplier to promote hydrogen utilization. Toyota
launched a 2021 hydrogen powered Mirai and is nearing production of
next-generation fuel cell electric technology for zero-emissions
heavy duty trucks using the same fuel cell system.
Toyota isn’t alone — Hyundai, Honda, and BMW either make or plan
hydrogen-powered cars, and Hyundai, Nikola Motors, Volvo and
Daimler have announced plans to manufacture trucks. PowerTap
intends to fuel these vehicles and all those that follow.
This is just the beginning of what will likely be strong
consumer demand, especially from the trucking industry where the
economics have potential to impact bottom lines. Diesel long-haul
trucks have an 812-mile range, a 15- to 30-minute fueling time and
cost 33.44 cents per mile to operate; the same truck with an
electric battery has a 400-mile range, takes up to eight hours to
charge and costs 37.5 cents per mile. By contrast, a Class 8
hydrogen-powered truck has a 900-mile range, takes 15 to 30 minutes
to refuel, and costs only 15 cents per mile to operate. Consider
that U.S. truckers drive an estimated 140 billion miles every year,
and it’s easy to see why hydrogen-powered heavy duty trucks are
coming to market.
Market timing couldn’t be better for PowerTap’s Gen3 modular
blue hydrogen production and dispensing unit. As ever more hydrogen
vehicles come to market, the opportunities for PowerTap and Clean
Power could grow exponentially.
“PowerTap’s patented, onsite blue hydrogen-generating fuel
station technology is the right solution for today’s lack of
hydrogen fueling infrastructure,” said PowerTap
COO Kelley Owen. “PowerTap plans to roll out hydrogen fueling
stations to meet the USA’s public hydrogen fueling station
increased demand. Our new modular design will allow us to deploy
our stations rapidly starting in 2021.”
And this is just the start. With its patented state-of-the-art
technology and access to capital in place through Clean Power,
PowerTap fully intends to build the largest, most functional and
profitable hydrogen fueling station network across all of North
America.
Hydrogen Apostles
Toyota
Motor Corporation (NYSE: TM) engages in the
manufacture and sale of motor vehicles and parts. It operates
through automotive financial services and other segments. The
company recently revealed it has developed and plans to sell a
product that packages a fuel cell system into a compact module.
Integrating the main components of a fuel cell will make it easily
adaptable for rapid development.
Plug Power Inc.
(NASDAQ: PLUG) is credited for creating the first
commercially market for hydrogen fuel cell technology and is
building the hydrogen economy as a leading provider of
comprehensive hydrogen fuel cell turnkey solutions. The company’s
innovative technology powers electric motors with hydrogen fuel
cells amid an ongoing paradigm shift in the power, energy and
transportation industries to address climate change and energy
security, while providing efficiency gains and meeting
sustainability goals.
ITM
Power Plc (OTC: ITMPF) manufactures integrated
hydrogen energy solutions for grid balancing, energy storage and
the production of renewable hydrogen for transport, renewable heat
and chemicals. The company is a recognized expert in hydrogen
technologies with the overarching principle to take excess energy
from the power network, convert it into hydrogen and use it in one
of three broad market areas: mobility, power-to-X and industry.
Nel ASA
(OTC: NLLSF) is a Norwegian-based hydrogen company
dedicated to delivering optimal solutions to produce, store and
distribute hydrogen from renewable energy. The company’s hydrogen
solutions cover the entire value chain from hydrogen production
technologies to hydrogen fueling stations, enabling industries to
transition to green hydrogen and providing all fuel cell electric
vehicles with the same fast fueling and long range as fossil-fueled
vehicles — without emissions.
The world is fast moving away from fossil fuels, and hydrogen
looks to play an important part. Clean and abundant, hydrogen power
is gaining favor, and as the crescendo builds, insightful investors
take notice.
For more information on Clean Power Capital Corp., please visit
Clean Power
Capital Corp.
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