To address the rising need for alternatives to fossil fuels, PowerTap Hydrogen Capital Corp has teamed with Viridian Hydrogen UAE to assist in developing a hydrogen ecosystem in the UAE and throughout the Middle East.
Viridian offers a comprehensive range of hydrogen-related services. Viridian has an extensive idea of the many renewable options available in the UAE and the Middle East. PowerTap and Viridian will collaborate to establish long-term relationships based on innovation and cooperation with important regional stakeholders. This project is in line with UAE Vision 2021, which includes instructions such as supporting clean energy and implementing renewable growth strategies.
Viridian has been tasked with assisting PowerTap in maintaining the momentum gained in the US through their partnership with the Andretti Group, an independent operator of approximately 100+ retail fueling stations in the US. With just two hydrogen filling stations across the UAE, PowerTap is capable of assisting in the planned development of a hydrogen highway that will utilize many of the country’s 643 fuelling stations. PowerTap intends to install a minimum of 100 hydrogen filling stations with various Middle Eastern governments and private/public multinational businesses over the next 24 months, assuming the production of a prototype PowerTap Gen3 unit and successful testing. The payment of compensation to Viridian under a final agreement is contingent on the completion of all regulatory and NEO Exchange filings.
