PowerTap Subsidiary AES-100 Inc. Accelerates Development and Commercialization of Green Hydrogen Technology with Appointment of Channce Fuller as President & Chief Executive Officer

• Consistent with an accelerated operational and commercial timeline for AES-100 technology, the Board of Directors of AES-100 Inc. has appointed Channce Fuller to lead the company's expedited development agenda
  
  
• Mr. Fuller joins AES-100 Inc. with a background in commercial and operational leadership as an executive at one of North America's largest environmental companies
• Mr. Fuller's experience directly complements AES-100 Inc. with a more than decade of technical engineering, corporate development, and strategy experience at the world's largest fertilizer manufacturer and crop retailer
  
  

TORONTO, Jan. 17, 2022 (GLOBE NEWSWIRE) -- PowerTap Hydrogen Capital Corp (NEO: MOVE) (FWB: 2K6B) (OTC:MOTNF) ("PowerTap" or the "Company" or "MOVE") is pleased to announce the appointment of Channce Fuller as President and Chief Executive Officer of its 49 percent owned subsidiary AES-100 Inc.

Mr. Fuller brings diverse experience in executive leadership, operations, marketing/sales, and business development. Most recently, Mr. Fuller was Vice President, Western Canada for Terrapure Environmental (a subsidiary of GFL Environmental). He was directly accountable for the planning and performance of day-to-day operations with leadership accountability for developing multi-year strategies, business plans and the achievement of financial goals/objectives while driving improvements in EH&S and other supporting functional areas.

Prior to this, Mr. Fuller worked in the Agriculture and Chemicals industry at Nutrien (NYSE:NTR, TSX:NTR), the world's largest fertilizer producer and crop retailer. During his tenure at Nutrien, he worked in technical engineering, process safety, corporate development and global strategy development.

Mr. Fuller holds a Master of Business Administration from Harvard Business School as well as a Bachelor's Degree in Chemical Engineering (with Great Distinction) from the University of Saskatchewan. He is also a Professional Engineer registered with the Association of Professional Engineers and Geoscientists of Alberta.

Channce joins AES-100 Inc. to lead the accelerated development of its transformational green hydrogen technology. Channce will bring a unique blend of technical and business development acumen that strengthens the company's ability to execute.

As the Company continues to shape a vision focused on clean energy, Mr. Fuller's appointment brings new executional operations and commercialization expertise, adding bench strength directly in the areas associated with the expedited development timelines needed to capitalize on the multi-billion dollar clean energy market.

ABOUT POWERTAP HYDROGEN CAPITAL CORP.

PowerTap Hydrogen Capital Corp., through its wholly owned subsidiary, PowerTap Hydrogen Fueling Corp. ("PowerTap"), is focused on installing hydrogen production and dispensing fueling infrastructure in the United States. PowerTap'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. There are currently under 100 operational publicly available hydrogen stations in the United States with most of the existing stations purchasing industrial hydrogen from industrial manufacturers and shipping hydrogen to individual stations via tanker trucks.

www.PowerTapcapital.com

www.PowerTapfuels.com

PowerTap Hydrogen common shares are listed on the NEO Exchange. Please visit the company's profile on the NEO Exchange website at https://www.neo.inc/en/live/security-activity/MOVE#!/market-depth.

Investor Contact:

Tyler Troup, Circadian

Group IR

[email protected]

PowerTap Contact:

Raghu Kilambi

[email protected]

+1 (604) 687-2038

NEITHER THE NEO EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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 PowerTap and AES. Some assumptions include, without limitation, t statements regarding AES; the AES technology; the global addressable market for hydrogen; the effectiveness and timelines to deploy the AES home power unit; reduction of risk for industrial applications of the AES technology; the renewable energies sector and the Company's future plans. 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.