Clean Power Capital Corp. PowerTap Partners With Carbonomics to Maximize Carbon Credit Opportunities
VANCOUVER, British Columbia and NEWPORT BEACH, Calif., March 02, 2021 (GLOBE NEWSWIRE) -- Clean Power Capital Corp. (CSE: MOVE)(FWB: 2K6)(OTC: MOTNF) (“Clean Power” or the
“Company” or “MOVE”). The Company is pleased to announce that PowerTap Hydrogen Fueling Corp. (“PowerTap”), an investee company of Clean Power, has partnered with
Carbonomics (http://www.carbonomicsonline.com/), a leader in helping clean tech companies maximize the potential of
emission reduction credits in the US and international markets.
Carbonomics will assist PowerTap in securing the certification of its hydrogen fueling co-located stations under the Low Carbon Fuel Standard (LCFS) in California, as well as explore other environmental trading markets, such as the US federal Renewable Fuel Standard (RFS) and voluntary carbon offset market. In particular, Carbonomics will direct PowerTap’s efforts in navigating the certification and verification of project activities to ensure the company’s claims are independently validated and meet all regulatory requirements, particularly in California, a global leader in establishing and maintaining a robust emissions credits market. Carbonomics has a proven track record in developing the pathway or method of effectively quantifying greenhouse gas emission reductions and credit registration and managing the process of monetizing the resulting carbon credits. Under the agreement, Carbonomics will be paid on a success basis.
“We are excited to partner with PowerTap to help solve the ‘chicken-and-egg’ situation that exists with hydrogen refueling infrastructure, while building up the market for hydrogen vehicles in pursuit of the Hydrogen Highway. We can do this through the leading edge, carbon credit regimes in California and elsewhere ”, said Seth Baruch, President of Carbonomics.
“Carbon credits are a key part of every clean energy company’s strategy, and we are pleased to partner with Carbonomics to leverage their expertise and experience to maximize carbon credit revenues. Leading clean energy companies like Tesla (1) have used emission-reduction credit revenues to accelerate their growth and cash flow”, said Raghu Kilambi, CEO of PowerTap.
The Company invested 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 and the Hydrogen Industry may be found at its website at http://www.powertapfuels.com