Powertap and Luftcar Enter Into Memorandum of Understanding for Future Supply of Hydrogen to Luftcar Electric Vertical Take Off and Landing Vehicles - Seite 2

"We are excited to join forces with LuftCar to promote hydrogen fuel cell technology in Connecticut," said Salim Rahemtulla, CEO of PowerTap Hydrogen Fueling Corp. "Our on-site hydrogen fueling stations, coupled with LuftCar's cutting-edge eVTOLs, will provide a comprehensive solution for clean and efficient transportation and cargo distribution in the state, paving the way for a greener and more sustainable future."

The collaboration between PowerTap and LuftCar is expected to have a positive impact on Connecticut's efforts to achieve its clean energy goals and reduce greenhouse gas emissions. By providing access to hydrogen refueling infrastructure for air, road, and utility backup refueling, this partnership aims to accelerate the adoption of hydrogen fuel cell technology and contribute to a greener, more sustainable transportation and last mile cargo delivery ecosystem in the state.

"We are thrilled to collaborate with PowerTap to establish hydrogen refueling stations in Connecticut," said Santh Sathya, CEO of LuftCar. "Our eVTOLs powered by hydrogen fuel cells have the potential to revolutionize air transportation, and with PowerTap's expertise and unique intellectual property in hydrogen fueling infrastructure, we can provide a complete solution for our customers, making hydrogen fuel readily available for air, road, and utility applications."

The joint efforts of PowerTap and LuftCar in establishing hydrogen refueling stations in states like Connecticut, New Jersey, and Massachusetts are expected to drive innovation, create hundreds of green jobs, and contribute to the state's clean energy leadership. The companies are committed to working closely with local stakeholders, regulators, and communities to ensure the safe and responsible deployment of hydrogen fuel cell technology for a sustainable future. Although PowerTap believes that the expectations of this collaboration are reasonable, undue reliance should not be placed on the forward-looking information because PowerTap can give no assurance that they will prove to be correct. Since forward-looking information addresses future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. See "Notice Regarding Forward Looking Information" below.