TheNFAPost Podcast

Bengaluru, NFAPost: Clean Power Capital Corp. is encouraged by and applauds the announcement by California Governor Newsom for his proposal to earmark $1.5 billion for companies to invest in the construction and maintenance of charging and hydrogen fueling infrastructure as part of a $4.5 billion stimulus proposal for the 2021 state budget.

Governor Newsom’s announcement is aligned with PowerTap’s preparation of its hydrogen station permitting as it prepares for its rollout of initial hydrogen fueling stations in the second half of 2021. The PowerTap hydrogen stations will be completed and installed in accordance with the California Governor’s Office of Business and Economic Development (GO-Biz) permitting guidebook.

As announced in Clean Power’s December 15, 2020 press release, PowerTap also plans to participate in the California Low Carbon Fuel Standard (“LCFS”) Carbon Credit program, which provides PowerTap an opportunity to generate revenue from the sale of its earned LCFS credits on an on-going basis on the emission trading markets, even prior to generating any revenue from the sale of hydrogen.

Raghu Kilambi, CEO of PowerTap Hydrogen Fueling Corp. said, “PowerTap plans to launch hydrogen fueling station rollout in the second half of 2021 and will be announcing initial rollout partners in the near term. California’s announced stimulus plans for hydrogen infrastructure supports PowerTap’s aggressive rollout strategy.

“In addition, with the incoming Biden Administration and the Democrats gaining control of the United States Senate with the win of control of the Senate with two key Senate runoff elections in the State of Georgia, PowerTap is optimistic that the US federal government will introduce new green initiatives that will include incentives and funding for the hydrogen infrastructure space.”

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