Mr. Raghu Kilambi of Powertap reports

POWERTAP HYDROGEN FUELING CORP. AND CLEANTECH POWER CORP. ENTER INTO LETTER OF INTENT FOR COLLABORATIVE ENERGY PROJECT DEVELOPMENT

Powertap Hydrogen Fueling Corp., a wholly owned subsidiary of Powertap Hydrogen Capital Corp., has entered into a non-binding letter of intent with Cleantech Power Corp. to explore collaborative energy project development. Both companies aim to leverage their respective expertise in the cleantech industry to advance the adoption of low-carbon-intensity clean hydrogen and renewable energy solutions. Under the terms of the LOI, both parties will use best commercial efforts to negotiate a definitive agreement within 180 days, setting out the terms and conditions of the collaboration.

Under the LOI, Cleantech and Powertap intend to assess project opportunities on a case-by-case basis, with the possibility of entering into a collaboration through the formation of a special-purpose entity or pursuing other non-exclusive arrangements outlined in a definitive agreement. The collaboration seeks to enhance both companies' value propositions with customers by combining Powertap's hydrogen fuelling technology with Cleantech's fuel cell and power development projects.

"The collaboration between Cleantech Power Corp. and Powertap Hydrogen Fueling Corp. represents a significant step towards accelerating the development of clean hydrogen infrastructure in North America," said Frank Carnevale, chief executive officer of Cleantech. "By delivering hydrogen to customers' sites, we bridge the divide that enables hydrogen to be used on our combined heat and power (CHP) systems and our other proprietary technology."

Salim Rahemtulla, chief executive officer of Powertap Hydrogen Fueling, stated: "We are excited about the opportunity to integrate Cleantech Power Corp.'s assets into our product stack. This collaboration will enable us to deliver affordable renewable energy in the form of hydrogen and power at our various projects, furthering our commitment to sustainable energy solutions."

About Powertap Hydrogen Capital Corp.

Powertap, through its wholly owned subsidiary, Powertap Hydrogen Fueling, is focused on installing hydrogen production and dispensing fuelling infrastructure in the United States. Powertap's patented solution has been developed over 20 years. Powertap is commercializing its third-generation blue hydrogen product that will focus on the refuelling needs of the automotive and long-haul trucking markets that lack hydrogen fuelling infrastructure.

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