Clean Power Capital Corp. will change its name to "PowerTap Hydrogen Capital Corp.", effective June 14, 2021, in conjunction with its transition to a single purpose hydrogen fueling technology company, previously announced on June 1, 2021. The Company will continue to trade under the stock symbol "MOVE" on the NEO Exchange ("NEO").
This name change emphasizes the Company's transition to a single purpose company from an investment issuer, redeploying its assets and resources to be a single purpose hydrogen fueling technology company. The name change and the transition to a single purpose company aligns the Company with its wholly-owned subsidiary, PowerTap Hydrogen Fueling Corp.'s focus on the development of its PowerTap 3.0 hydrogen fueling units.
Raghu Kilambi, the CEO of Clean Power, stated, "With the Company’s main focus on the hydrogen fueling technology sector, the name change to PowerTap Hydrogen Capital is an important choice to clarify our strategy and identity for the market. We are excited to reveal our re-branding, which more accurately reflects our focus and vision to become a leader in the delivery and dispensing of hydrogen fuel to motor vehicles in the most cost efficient manner for consumers.”