Clean Power Capital Corp. (CSE: MOVE) (OTC: MOTNF) (FWB: 2K6A) Investee PowerTap to Join California Carbon Credit Program
- PowerTap plans to take advantage of the Hydrogen Refueling Infrastructure credit program that allows it to sell credits even if it hasn’t begun dispensing hydrogen yet
- Selling the credits at an approximate rate of $200 each, the company has the potential to generate nearly $1.3 million annual gross revenue per each 1,200 kg hydrogen station installed
- To qualify for the program, PowerTap’s hydrogen fueling stations will need to meet specific standards in terms of functionality, availability, accepted payment methods and more
- Company plans to begin roll out of its California hydrogen fueling stations in the second half of 2021
PowerTap Hydrogen Fueling Corp., an investee of Clean Power Capital (CSE: MOVE) (OTC: MOTNF) (FWB: 2K6A), plans to participate in California’s Low Carbon Fuel Standard (“LCFS”) Carbon credit program, one of the most innovative carbon emission credit trading plans and the first to focus solely on the transportation sector.
According to a Clean Power Capital Corp. press release, the LCFS Carbon Credit program will offer PowerTap the opportunity to generate revenue before it even begins dispensing hydrogen through its planned fueling station infrastructure by selling earned LCFS credits on the emission trading markets (https://nnw.fm/ciHHM). PowerTap will be eligible to earn Hydrogen Refueling Infrastructure (“HRI”) credits through the LCFS as soon as it installs its fueling stations in California, which is expected to being in the second half of 2021. These credits will then be sold to oil companies and other gross polluters that are required to offset their CO2 emissions under California law. The company plans to sell the credits at an approximate rate of $200 each, a value which is reflected on the most recent Weekly LCFS Credit Transfer Activity Reports.*
PowerTap has the potential to generate LCFS credits of $2.95 per kilogram per day of hydrogen capacity, resulting in an annual gross revenue from LCFS carbon credits of $1,292,100 per each 1,200 kg hydrogen station installed and functional, even if no hydrogen is sold, a third-party analysis of the company’s LCFS credit generation potential indicates (https://nnw.fm/ULyax).
To qualify for HRI credits, PowerTap’s fueling stations need to meet a series of specific criteria such as being open to the public, being available to all drivers, allowing all major credit cards for payments, having confirmation from three vehicle OEMs that their customers can use the stations, and others. The company plans to deploy its hydrogen fueling infrastructure at existing truck stops and gas stations across the country, beginning with a few hundred stations in California within the next three to five years. Further, it intends to retain leading LCFS Carbon Credit experts as agents and consultants to establish the necessary reporting processes and infrastructure to receive HRI-credit derived revenue.
The California LCFS program was created in 2009 and was one of the first to focus entirely on the transportation sector, a notoriously difficult industry to de-carbonize given its numerous stakeholders. The program initially required transportation operators to reduce carbon emissions by 10 percent by 2020, but was then extended to require a further 10 percent reduction by 2030. The program is estimated to be a multi-billion carbon credit trading market in 2020.
To encourage hydrogen industry participants to contribute to the overall reduction of transport sector pollution and to speed up contrition of hydrogen fueling stations, LCFS regulators with the California Air Resources Board created the HRI credit program in 2019. This program allows LCFS credits to be issued based on installed hydrogen capacity, even if no hydrogen is dispensed yet, a plan that works in favor of PowerTap at the moment, providing the company with additional revenue options to finance its hydrogen fueling infrastructure.
“California carbon credits are an important incentive that will greatly assist PowerTap in its hydrogen fueling station rollout plan by generating attractive revenues for PowerTap even before hydrogen is dispensed and sold,” PowerTap CEO Raghu Kilambi said. “Revenue from the sale of these credits is expected to be generated once PowerTap completes the rollout of its hydrogen fueling stations in California,” he explained, adding that several major clean technology companies have leveraged carbon credits to increase cash flow and step up their growth plans, a strategy that PowerTap could also deploy.
With its impressive portfolio of IP and advanced deployed technologies, as well as plans to build and expand a hydrogen filling station network across North America, PowerTap was an attractive opportunity for Clean Power Capital Corp., an investment company focused on identifying lucrative opportunities in the health and renewable energy industries. Clean Power Capital has 10 investments in various sectors currently holds 90 percent equity interest in PowerTap Hydrogen Fueling.
*https://ww3.arb.ca.gov/fuels/lcfs/credit/lrtweeklycreditreports.htm
For more information, visit the company’s website at www.CleanPower.Capital.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
- PowerTap plans to take advantage of the Hydrogen Refueling Infrastructure credit program that allows it to sell credits even if it hasn’t begun dispensing hydrogen yet
- Selling the credits at an approximate rate of $200 each, the company has the potential to generate nearly $1.3 million annual gross revenue per each 1,200 kg hydrogen station installed
- To qualify for the program, PowerTap’s hydrogen fueling stations will need to meet specific standards in terms of functionality, availability, accepted payment methods and more
- Company plans to begin roll out of its California hydrogen fueling stations in the second half of 2021
PowerTap Hydrogen Fueling Corp., an investee of Clean Power Capital (CSE: MOVE) (OTC: MOTNF) (FWB: 2K6A), plans to participate in California’s Low Carbon Fuel Standard (“LCFS”) Carbon credit program, one of the most innovative carbon emission credit trading plans and the first to focus solely on the transportation sector.
According to a Clean Power Capital Corp. press release, the LCFS Carbon Credit program will offer PowerTap the opportunity to generate revenue before it even begins dispensing hydrogen through its planned fueling station infrastructure by selling earned LCFS credits on the emission trading markets (https://nnw.fm/ciHHM). PowerTap will be eligible to earn Hydrogen Refueling Infrastructure (“HRI”) credits through the LCFS as soon as it installs its fueling stations in California, which is expected to being in the second half of 2021. These credits will then be sold to oil companies and other gross polluters that are required to offset their CO2 emissions under California law. The company plans to sell the credits at an approximate rate of $200 each, a value which is reflected on the most recent Weekly LCFS Credit Transfer Activity Reports.*
PowerTap has the potential to generate LCFS credits of $2.95 per kilogram per day of hydrogen capacity, resulting in an annual gross revenue from LCFS carbon credits of $1,292,100 per each 1,200 kg hydrogen station installed and functional, even if no hydrogen is sold, a third-party analysis of the company’s LCFS credit generation potential indicates (https://nnw.fm/ULyax).
To qualify for HRI credits, PowerTap’s fueling stations need to meet a series of specific criteria such as being open to the public, being available to all drivers, allowing all major credit cards for payments, having confirmation from three vehicle OEMs that their customers can use the stations, and others. The company plans to deploy its hydrogen fueling infrastructure at existing truck stops and gas stations across the country, beginning with a few hundred stations in California within the next three to five years. Further, it intends to retain leading LCFS Carbon Credit experts as agents and consultants to establish the necessary reporting processes and infrastructure to receive HRI-credit derived revenue.
The California LCFS program was created in 2009 and was one of the first to focus entirely on the transportation sector, a notoriously difficult industry to de-carbonize given its numerous stakeholders. The program initially required transportation operators to reduce carbon emissions by 10 percent by 2020, but was then extended to require a further 10 percent reduction by 2030. The program is estimated to be a multi-billion carbon credit trading market in 2020.
To encourage hydrogen industry participants to contribute to the overall reduction of transport sector pollution and to speed up contrition of hydrogen fueling stations, LCFS regulators with the California Air Resources Board created the HRI credit program in 2019. This program allows LCFS credits to be issued based on installed hydrogen capacity, even if no hydrogen is dispensed yet, a plan that works in favor of PowerTap at the moment, providing the company with additional revenue options to finance its hydrogen fueling infrastructure.
“California carbon credits are an important incentive that will greatly assist PowerTap in its hydrogen fueling station rollout plan by generating attractive revenues for PowerTap even before hydrogen is dispensed and sold,” PowerTap CEO Raghu Kilambi said. “Revenue from the sale of these credits is expected to be generated once PowerTap completes the rollout of its hydrogen fueling stations in California,” he explained, adding that several major clean technology companies have leveraged carbon credits to increase cash flow and step up their growth plans, a strategy that PowerTap could also deploy.
With its impressive portfolio of IP and advanced deployed technologies, as well as plans to build and expand a hydrogen filling station network across North America, PowerTap was an attractive opportunity for Clean Power Capital Corp., an investment company focused on identifying lucrative opportunities in the health and renewable energy industries. Clean Power Capital has 10 investments in various sectors currently holds 90 percent equity interest in PowerTap Hydrogen Fueling.
*https://ww3.arb.ca.gov/fuels/lcfs/credit/lrtweeklycreditreports.htm
For more information, visit the company’s website at www.CleanPower.Capital.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
