PowerTap Hydrogen Capital Corp. has engaged T2M Global as its engineering and design partner to conduct validation of its Gen3 Modular Hydrogen Production and Dispensing Unit (MHPDU) and to provide final engineering for lower-cost manufacturing with enhanced robustness.
The demand for hydrogen refuelling stations is growing rapidly worldwide, promising a multi-billion-dollar market. PowerTap has engaged T2M Global to fast-track initial station delivery to capitalise on this demand.
Raghu Kilambi, CEO of PowerTap, said, “T2M’s experience will enable PowerTap to take full advantage of the excellent market conditions for blue hydrogen over the next few years, especially benefitting from an already existing infrastructure of natural gas and renewable natural gas.”
T2M brings valuable experience in strategic alliances for major green or blue hydrogen components, such as high-pressure steam methane reformers, hydrogen purification for fuel cell use, hydrogen compression for efficient storage and dispensing to heavy-duty vehicles, and long-range light-duty vehicles.
Pinakin Patel, President and CEO of T2M, commented, “Our vast experience in fuel cell commercialisation, hydrogen production, technology collaborations and supply chain development in the US, Canada, Japan, South Korea, Germany, and Denmark will help PowerTap accelerate its hydrogen station deployment.
T2M gained collaborative experience with multinational corporations, such as Haldor Topsoe. BASF, Sempra, Enbridge, Siemens-Westinghouse, Fluor Engineers, NRG, Mitsubishi, Sanyo, Marubeni, POSCO Energy, Daimler-MTU, and ExxonMobil.
PowerTap also announced that it has closed the first tranche of a non-brokered private placement and issued 6,666,667 units at a price of $0.15 per Unit for gross proceeds of $1,000,000. Each Unit consists of one common share and one transferable Share purchase warrant. Each Warrant shall entitle the holder thereof to purchase one additional Share of the Company at $0.30 for twenty-four months from the date of issuance.