Clean Power (CSE: MOVE) (OTC: MOTNF) (FWB: 2K6A) today announced that its investment, PowerTap, plans to participate in the California Low Carbon Fuel Standard (“LCFS”) Carbon Credit program. California’s LCFS may be one of most unique carbon emission credit trading programs, reflecting the state’s commitment to greenhouse gas reductions. The program provides PowerTap an opportunity to generate revenue even before dispensing any hydrogen from its fueling stations by allowing the sale of its earned LCFS credits on an on-going basis on the emission trading markets. “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,” said Raghu Kilambi, CEO of PowerTap. “Revenue from the sale of these credits is expected to be generated once PowerTap completes the rollout of its hydrogen fueling stations in California. Major clean technology companies have depended on carbon credits for years to augment cash flow and allow them to aggressively grow.”
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About Clean Power Capital Corp.
Clean Power 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 mandate is focused on high return investment opportunities, the ability to achieve a reasonable rate of capital appreciation and to seek liquidity in the company’s investments. A copy of Clean Power’s amended and restated investment policy may be found under the company’s profile at www.sedar.com. For more information, visit the company’s website at www.CleanPower.capital
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