PowerTap Hydrogen Capital (NEO: MOVE) (FWB: 2K6) (OTC: MOTNF) is evaluating additional ways to maximize value for its shareholders. The company announced that, along with qualified external advisors, it is in the process of exploring an array of options that include international joint ventures and strategic mergers as well as receiving international investments and taking its wholly owned subsidiary, PowerTap Hydrogen Fueling Corp., public through a merger with a USA Special Purpose Acquisition Corp. To provide key insight and advise, the company is working with Jefferies LLC as lead financial advisor and capital markets advisor along with Canaccord Genuity Corp. as financial advisor as it undergoes the process of exploring potential opportunities. As this process is undertaken, the company intends to continue to work toward an uplisting to the Nasdaq exchange. “In light of various inquiries we have received from potential strategic partners globally and several USA-listed SPACs over the past few months, we decided it was prudent to retain financial advisors and conduct a formal process to maximize shareholder value,” said PowerTap CEO Raghu Kilambi in the press release. “Our financial advisors are very knowledgeable in clean energy and hydrogen and are enthusiastic about the potential for hydrogen fueling infrastructure globally. The hydrogen industry has gained global interest in the past 18 months, and our unique, patented PowerTap onsite hydrogen production technology is well positioned to play a major role in building out the globally needed hydrogen fueling infrastructure which is needed to build the hydrogen highway.”
To view the full press release, visit https://ibn.fm/2ZZxo
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 is now commercializing its third-generation blue hydrogen product that will focus on the refueling needs of the automotive and long-haul trucking markets that lack hydrogen fueling infrastructure. There are currently less than 100 operational publicly available hydrogen stations in the United States with most of the existing stations purchasing industrial hydrogen from industrial manufacturers and shipping hydrogen to individual stations via tanker trucks. For more information about the company, please visit www.PowerTapCapital.com.
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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