PowerTap Hydrogen Capital announces letter of intent with Newport Realty Group for retail energy center.
PowerTap Hydrogen Capital Corp. (NEO:MOVE.AQN, OTC:MOTNF) said it has entered into a letter of intent with Newport Realty Group (NRG) to enter into a lease in Yermo, California, to operate a future PowerTap Hydrogen Fueling Station.
The company said the lease with the Newport Beach, California-based real estate development firm remains subject to a definitive agreement and, subject to finalizing the terms of the lease, the future location for PowerTap hydrogen fueling stations will help to provide clean and reliable energy solutions for light-duty fuel cell electric vehicles (FCEVs), as well as battery electric vehicles (BEVs) and traditional gasoline-powered vehicles.
The site will host an on-site hydrogen production station developed by PowerTap, which will provide fuel for light-duty FCEVs. NRG plans to develop several retail/energy plazas along Interstate 15, extending from Los Angeles and Orange County in California to Las Vegas and beyond through the states of Nevada and Utah, it added.
These sites, on which PowerTap will have a first look to participate, will provide microgrids for battery electric charging of battery electric vehicles (BEVs) and petrol stations servicing gasoline and diesel vehicles, along with other uses such as drive-thru restaurants, convenience stores, food halls, public-private lounges, and rest areas, to support consumers while charging their vehicles.
Salim Rahemtulla, PowerTap president and CEO said in a statement, said:
We are thrilled to partner with Newport Realty Group to bring the benefits of clean and sustainable hydrogen energy to consumers and businesses across the west coast.
“Our on-site hydrogen production stations will provide a reliable and efficient fuel source for FCEVs and FCETs, while the retail energy centers developed by NRG will offer convenient and accessible charging options for BEVs and traditional gasoline-powered vehicles.”
Shares commitment to sustainability
PowerTap said the collaboration with NRG reflects a shared commitment to sustainability and reducing carbon emissions. By providing on-site hydrogen production and microgrids to support BEV charging and the other uses on these sites, it said the partnership aims to promote the adoption of cleaner transportation solutions and support the growth of the hydrogen economy in the United States.
Barry Blake, Newport Realty Group president added.
We are excited to join forces with PowerTap to create a new model for sustainable energy solutions.
“Our retail energy centers will not only provide convenient charging options for EVs but also offer amenities and services to make the charging experience more enjoyable and efficient. We look forward to working together to create a more sustainable future for all.”
PowerTap noted as previously announced, that its technology validation for the PowerTap Gen3 modular hydrogen production and dispensing unit (MHPDU), producing 1,250 kg per day of hydrogen, is anticipated to be wrapped up by the end of the second quarter of 2023, while engineering plans are being finalized for submission to municipalities for construction permit approval through 3Q 2023 and, in parallel, supply chains being solidified, PowerTap MHPDUs at Andretti-owned stations are expected to be installed starting at the end of 1Q 2024.
With that as context, the company said NRG has agreed to deliver possession of the premises to PowerTap in the second half of 2024. The operation of this site as a hydrogen fueling center remains subject to PowerTap obtaining all of the final permits and approvals necessary for PowerTap’s construction and intended use of the premises.
The operation of the site as a hydrogen fueling center is also subject to PowerTap finalizing the design of its on-site hydrogen fueling units, completing the manufacturing of the units, and obtaining all necessary governmental approvals, permits and licenses.
PowerTap said it is commercializing its third-generation blue hydrogen product that will focus on the refueling needs of the automotive and long-haul trucking markets that lack hydrogen fueling infrastructure.
2023 IndyCar Series
PowerTap also announced that the 2023 IndyCar Series continues with the Grand Prix of Long Beach from April 14 to 16, with Steinbrenner Racing and Andretti Autosport Car No. 29, sponsored by PowerTap. It said management will be hosting several key PowerTap partners throughout the weekend in Long Beach.
Trough its wholly owned subsidiary, PowerTap Hydrogen Fueling Corp, PowerTap Hydrogen Capital focuses on installing hydrogen production and dispensing fueling infrastructure in the United States. The company’s patented solution has been developed over 20 years. PowerTap is now commercializing its third-generation blue hydrogen product that will focus on the refueling needs of the automotive and long-haul trucking markets that lack hydrogen fueling infrastructure.
READ the latest news shaping the hydrogen market at Hydrogen Central
PowerTap Hydrogen Capital announces letter of intent with Newport Realty Group for retail energy center, April 3, 2023
