REPEAT -- Clean Power Capital Announces Appointment of Auto Racing Legend Michael Andretti to the PowerTap Advisory Board

February 2, 2021 7:00 AM EST
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VANCOUVER, British Columbia, Feb. 02, 2021 (GLOBE NEWSWIRE) -- Clean Power Capital Corp. (CSE: MOVE)(FWB: 2K6)(OTC: MOTNF) (“Clean Power” or the “Company” or "MOVE"). The Company is pleased to appoint Michael Andretti, Chairman and CEO of Andretti Autosport and founding partner of The Andretti Group to the advisory board of PowerTap Hydrogen Fueling Corp. (“PowerTap”). As previously announced on October 28, 2020, the Company invested in PowerTap as part of its investment strategy in the hydrogen sector.

Second-generation auto racing legend Michael Andretti, the namesake of international racing enterprise Andretti Autosport, hung up his helmet in 2003 making the full-time transition from driver to business leader. Andretti leads his businesses with the same focus and determination he showed behind the wheel of a race car and has grown the Andretti Autosport brand to global recognition, boasting a championship pedigree.

Andretti is also a founding partner of Andretti Group, dating back to 1997. The Andretti Group family of companies has grown rapidly to include chain of over 100 Retail Fuel/Convenience Store/Quick Service Restaurant (QSR) operations; Branded and Unbranded Wholesale Fuel operations; Trucking/Logistics operations; Card Lock/Fleet Fueling operations; and Full-Service Factory Authorized Maintenance operations. The enterprise operates and/or supplies facilities under the Chevron, Texaco, Shell, 76, Circle K, Pacific Pride, and CFN brands, amongst others, in a geography spanning California, Oregon, and Washington.

Expectations are high when you enter the world of racing with a name like Andretti, and Michael Andretti has been raising the bar as a driver, team owner and businessman throughout his illustrious career. Andretti knows the importance of striving for excellence and pushes to move from good to great. He raises the bar and sets new standards. He knows what it takes to be a Champion.

The 1991 CART series champion retired from profession racing as the winningest driver in CART history with 42 victories. He is also second on the list of INDYCAR laps led, right behind his father, Mario Andretti, with 6,702. Additionally, Andretti has been inducted into the Motorsports Hall of Fame (2008), the Canadian Motorsports Hall of Fame (2012) and was voted as one of CART’s most popular drivers.

Andretti commented, “I’m particularly excited about helping the company grow rapidly over the coming years and serving as an advisor for PowerTap. The proprietary PowerTap technology provides critical and unique advantage as the global energy transition is in full swing. I believe hydrogen could play a critical role in the future of both consumer transportation and motorsport.”

“We are thrilled that Clean Power Capital has appointed Michael Andretti to the advisory board of PowerTap. Mr. Andretti and his family are legends in the auto racing industry and well known to all stakeholders in the transportation industry, ” said Mr. Raghu Kilambi, CEO of PowerTap Hydrogen Fueling Corp. "Mr. Andretti’s extensive network in the automobile manufacturing, gas station and truck stop industries are indispensable to PowerTap as we launch our hydrogen fueling station network across the United States.”

Engagement Renewal of First Marketing GMBH

Clean Power initially retained First Marketing GmbH ("FMG"), a leading marketing firm based in Heidelberg, Germany, on October 28, 2020, to provide marketing services focused on the European markets. Under the agreement, the service provider is to provide content distribution, translation and advertising services in Europe. The Company has elected to renew the FMG engagement and has agreed to pay the service provider up to an additional 850,000 euros to continue the marketing services over the next four months. All content created by the service provider on behalf of the Company and its investments will be reviewed and vetted in accordance with the Company’s enhanced review procedures before distribution.

About PowerTap

PowerTap is leading the charge to build out cost-effective hydrogen fueling infrastructure through its environmentally friendly intellectual property, product design for the modularized and lowest tier production cost of hydrogen and launch plan. PowerTap technology-based hydrogen fueling stations are located in private enterprises and public stations (near LAX airport) in California, Texas, Massachusetts, and Maryland. Additional information about PowerTap may be found at its website at http://www.powertapfuels.com.

ABOUT CLEAN POWER CAPITAL CORP.

Clean Power is an investment company, that 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 investment mandate is focused on high return investment opportunities, the ability to achieve a reasonable rate of capital appreciation and to seek liquidity in our investments. A copy of Clean Power’s amended and restated investment policy may be found under the Company’s profile at www.sedar.com.

PowerTap Contact
Raghu Kilambi
raghu@hydrogenfueling.co

Andretti Autosport
Ryann Weatherford
VP of Communications
rw@andrettiautosport.com

PR Contact
Vito Palmeri
AMW PR
c: 347.471.4488
o: 212.542.3146
vito@amwpr.com

ON BEHALF OF THE CLEAN POWER CAPITAL CORP. BOARD OF DIRECTORS

“Joel Dumaresq”

Joel Dumaresq CEO
+1 (604) 687-2038
info@cleanpower.capital

Learn more about Clean Power by visiting our website at: https://cleanpower.capital/.

THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

Notice Regarding Forward Looking Information:

This press release contains "forward-looking statements" or "forward-looking information" (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Clean Power. Some assumptions include, without limitation, the development of hydrogen powered vehicles by vehicle makers, the adoption of hydrogen powered vehicles by the market, legislation and regulations favoring the use of hydrogen as an alternative energy source, the Company’s ability to build out its planned hydrogen fueling station network, and the Company’s ability to raise sufficient funds to fund its business plan. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur or be achieved. This press release contains forward-looking statements pertaining to, among other things, the timing and ability of the Company to complete any potential investments or acquisitions, if at all, and the timing thereof. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company and described in the forward-looking information contained in this press release.

Although the Company believes that the material factors, expectations and assumptions expressed in such forward- looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance.

The forward-looking information contained in this release is expressly qualified by the foregoing cautionary statements and is made as of the date of this release. Except as may be required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward- looking information to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.




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