Clean Power Capital Corp.: PowerTap Provides Update on Implementing Innovative Engineering Solutions to Drive Down the Cost Of 1 Kg of Blue Hydrogen at The Dispenser
VANCOUVER, British Columbia and IRVINE, Calif., May 25, 2021 (GLOBE NEWSWIRE) — Clean Power Capital Corp. (NEO: MOVE)(FWB: 2K6)(OTC: MOTNF) (“Clean Power” or the “Company” or “MOVE”). Clean Power Capital is pleased to provide details regarding the innovative engineering solutions PowerTap is implementing to reduce the cost of producing a kilogram of hydrogen with its Gen3 unit.
There are two general areas in which PowerTap is reducing production costs: 1) input costs; and 2) maintenance/downtime of the PowerTap Gen3 through innovative technology and engineering methods. Regarding the cost of inputs to the system, the three inputs into the system are electricity, renewable natural gas and water.
Input Cost Reduction
Electricity
PowerTap is reducing the cost of electricity in three ways – 1) incorporating electrochemical compression in system design replacing larger asymmetrical compressors that draw significantly more power; 2) reducing compression cycles to maintain 875 bar (approx. 12,700 psi) of dispensing pressure by reinventing legacy, gas-based compressed and cascaded solutions and by not implementing liquid storage solutions; and 3) implementing fuel cell technology to use excess hydrogen production to provide electrical power.
Renewable natural gas (RNG)
The design features PowerTap uses to reduce the consumption of renewable natural gas include – 1) utilizing excess CO2 to purge the system on startup in place of natural gas or nitrogen; 2) increasing the reactor’s natural gas input pressure by utilizing specialized rotary displacement pumps; and 3) recycling exhaust gas and uncaptured hydrogen from the pressure swing absorption (PSA) towers reducing the amount of RNG needed to heat the reactor’s burners.
Fresh water
The design features that reduce the consumption of fresh water include – 1) improvements to PowerTap’s water purification system and water storage solution; 2) improvements to our water expansion tanks to enable the recycling of water in the system; and 3) improvements in steam generation and injector designs.
Maintenance Cost and Downtime Reduction
In terms of reducing maintenance costs and downtime, PowerTap has implemented a number of design innovations, including – 1) incorporation of electrochemical compression versus asymmetrical compressors, which dramatically reduces maintenance costs by eliminating moving parts that require preventive maintenance and lubrication and increased corrective maintenance; 2) incorporation of a reactor tube design and catalyst composition that extends the life of the tubes and reduces periodicity of the catalyst replacement from annually to less than once every eight (8) years; 3) making design improvements that reduce the reactor internal temperatures to below 800 C, thereby extending the life of the tubes; and 4) implementation of a double redundancy design providing two independent production systems each capable of producing 625 kg of hydrogen per day, thus reducing downtime due to maintenance or system failure.
The implementation of these innovative design changes in the PowerTap Gen3 reduces the cost of goods of hydrogen production by up to 50%; reduces maintenance cost by almost 75%; and reduces down time by 50%.
“PowerTap’s center focus is to design an on-site hydrogen production and fueling system that drives the cost of hydrogen used for consumer and commercial transportation down to the gallon-of-gasoline equivalent. This is a critical goal to obtain large-scale adoption of hydrogen by commercial carriers and the public”, said Kelley Owen, PowerTap’s Chief Operating Officer.
ABOUT CLEAN POWER CAPITAL CORP.
Clean Power is an investment company that specializes in investing into private and public companies opportunistically that may be engaged in a variety of industries, with a current focus in the health and renewable energy industries. In particular, the investment mandate is focused on high return investment opportunities, the ability to achieve a reasonable rate of capital appreciation and to seek liquidity in our investments. Clean Power’s most recent investment was in PowerTap (https://powertapfuels.com/) on October 27, 2020 (see the Company’s news release on October 28, 2020). A copy of Clean Power’s amended and restated investment policy may be found under the Company’s profile at www.sedar.com. Learn more about Clean Power by visiting our website at: https://cleanpower.capital/
Clean Power common shares are listed on the NEO Exchange. Please visit the company’s profile on the NEO Exchange website at https://www.neo.inc/en/live/security-activity/MOVE#!/market-depth.
PR Contact:
Dave Brown AMW PR
c: (917) 543-1050
dave@amwpr.com
Investor Contact:
Tyler Troup, Circadian Group IR
MOVE@circadian-group.com
Clean Power Contact:
Raghu Kilambi
raghu@hydrogenfueling.co
+1 (604) 687-2038
NEITHER THE NEO EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Notice Regarding Forward Looking Information:
This press release contains “forward-looking statements” or “forward-looking information” (collectively referred to herein as “forward-looking statements”) within the meaning of applicable securities legislation.
Specifically, this news release contains forward-looking statements relating to, but not limited to: the successful installation of the PowerTap fueling units, the availability of RNG feedstock to produce blue hydrogen, PowerTap becoming eligible to earn HRI credits under the LCFS carbon credit program, the liquidity of a secondary market to sell the carbon credits, forecasts, estimates, expectations and objectives for future operations. These forward-looking statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Clean Power. Some assumptions include, without limitation, the development of hydrogen powered vehicles by vehicle makers, the adoption of hydrogen powered vehicles by the market, legislation and regulations favoring the use of hydrogen as an alternative energy source, the qualification for carbon credits, the Company’s ability to build out its planned hydrogen fueling station network, and the Company’s ability to raise sufficient funds to fund its business plan. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur or be achieved. This press release contains forward-looking statements pertaining to, among other things, the timing and ability of the Company to complete any potential investments or acquisitions, if at all, and the timing thereof. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company and described in the forward-looking information contained in this press release.
Although the Company believes that the material factors, expectations and assumptions expressed in such forward- looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance.
The forward-looking information contained in this release is expressly qualified by the foregoing cautionary statements and is made as of the date of this release. Except as may be required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward- looking information to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.
