Clean Power Capital Corp .: PowerTap provides update on
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 on the innovative engineering solutions PowerTap is implementing to reduce the cost of producing one kilogram of hydrogen with its Gen3 unit.
There are two general areas in which PowerTap reduces production costs: 1) input costs; and 2) PowerTap Gen3 maintenance / downtime using innovative technology and engineering methods. Regarding the cost of system inputs, the three system inputs are electricity, renewable natural gas and water.
Lower input cost
PowerTap reduces the cost of electricity in three ways: 1) incorporating electrochemical compression into the system design by replacing the larger unbalanced compressors which consume much more energy; 2) reduce compression cycles to maintain 875 bar (approximately 12,700 psi) of distribution pressure by reinventing traditional, compressed gas and cascade solutions and not implementing liquid storage solutions; and 3) the implementation of fuel cell technology to use excess hydrogen production to provide electrical power.
Renewable natural gas (RNG)
The design features used by PowerTap to reduce the consumption of renewable natural gas include: 1) the use of excess CO2 to purge the system at start-up instead of natural gas or nitrogen; 2) increase the reactor natural gas inlet pressure using dedicated rotary positive displacement pumps; and 3) recirculation of exhaust gases and uncaptured hydrogen from the variable pressure absorption towers (PSA) reducing the amount of RNG required to heat the reactor burners.
Design features that reduce fresh water consumption include: 1) improvements to PowerTap’s water purification system and water storage solution; 2) improvements to our water expansion tanks to allow water to be recycled back into the system; and 3) improvements in steam generation and injector design.
Reduced maintenance costs and downtime
In terms of reducing maintenance costs and downtime, PowerTap has implemented a number of design innovations including – 1) the integration of electrochemical compression compared to single-ended compressors, reducing significantly reduce maintenance costs by eliminating moving parts that require preventive maintenance and increased lubrication and corrective maintenance; 2) Incorporation of a reactor tube design and catalyst composition that extends tube life and reduces catalyst replacement periodicity from one year to less than once every eight ( 8 years; 3) make design improvements that reduce internal reactor temperatures to less than 800 C, thereby extending tube life; and 4) implementing a dual redundant design providing two independent production systems each capable of producing 625 kg of hydrogen per day, thereby reducing downtime due to maintenance or system failure.
Implementing these innovative design changes in the PowerTap Gen3 reduces the cost of hydrogen production goods by up to 50%; reduces maintenance costs by almost 75%; and reduces downtime by 50%.
“PowerTap’s primary goal is to design an on-site hydrogen production and refueling system that reduces the cost of hydrogen used to transport consumers and businesses to the equivalent of a gallon of gasoline. . This is a critical goal in achieving the widespread adoption of hydrogen by commercial carriers and the public, ”said Kelley Owen, Chief Operating Officer of PowerTap.
ABOUT CLEAN POWER CAPITAL CORP.
Clean Power is an investment firm specializing in opportunistic investing in private and public companies that can be engaged in a variety of industries, with a current focus on the healthcare and renewable energy industries. In particular, the investment mandate is focused on high yield 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 press release of October 28, 2020). A copy of Clean Power’s amended and updated investment policy can be found under the company profile at www.sedar.com. Learn more about Clean Power by visiting our website at: https://cleanpower.capital/
Clean Power’s common stock is listed on the NEO stock exchange. Please see the Company Profile on the NEO Exchange website at https://www.neo.inc/en/live/security-activity/MOVE#!/market-depth.
Dave Brown AMW PR
c: (917) 543-1050
Tyler Troup, IR circadian group
Clean power contact:
+1 (604) 687-2038
NEO THE NEO EXCHANGE SERVICE PROVIDER NOR ITS REGULATIONS HAVE REVIEWED OR ACCEPTED 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 laws.
Specifically, this press release contains forward-looking statements regarding, but not limited to: the successful installation of the PowerTap power units, the availability of the RNG feedstock to produce blue hydrogen, PowerTap becoming eligible for earn HRI credits under the LCFS carbon credit program, secondary market liquidity to sell carbon credits, forecasts, estimates, expectations and targets 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, but are not limited to, the development of hydrogen-powered vehicles by vehicle manufacturers, market adoption of hydrogen-powered vehicles, legislation and regulations favoring the use of hydrogen. hydrogen as an alternative energy source, qualification for carbon credits, the company’s ability to develop its network of hydrogen refueling stations, and the company’s ability to raise sufficient funds to finance its business plan. Forward-looking statements are statements which are not historical facts and which are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “believes”. “,” Plans “,” potential “and similar expressions, or that events or conditions” will “,” would “,” could “,” could “or” should “occur or be realized. This press release contains forward-looking statements relating, among other things, to the timing and ability of the Company to make potential investments or acquisitions, if any, and their timing. Forward-looking information is based on current expectations, estimates and projections which involve a number of risks, which could cause actual results to vary and, in certain cases, 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 important factors, expectations and assumptions expressed in these forward-looking statements are reasonable based on the information available to it at the date of these statements, no assurance can be given as to the results, levels of future activity and achievements. and these statements are not guarantees of future performance.
The forward-looking information contained in this press release is expressly qualified by the foregoing warnings and is provided as of the date of this press release. Except as required by applicable securities laws, the Company undertakes no obligation to publicly update or revise forward-looking information to reflect events or circumstances after the date of this release or to reflect the occurrence of unforeseen events, whether as a result of new information, future events or results, or otherwise.