Organic Flower Investments Group Inc. (CSE:
SOW)(FWB: 2K6)(OTC: QILFF) (“Organic
Flower” or the
“Company” or
"SOW"). The Company’s 90 percent owned subsidiary
PowerTap Hydrogen Fueling Corp. (“PowerTap”) is pleased to provide
an update on the hydrogen vehicle market and its impact on the need
for hydrogen fueling stations.
The Wall Street Journal recent article1,
"Hydrogen-Fuel Focus Shifts to Big Rigs" noted that the major
car/truck makers are now focused on Hydrogen-fuel based trucks,
which have major advantages over current diesel trucks (operating
costs and emissions) and potential battery electric trucks (faster
refueling time and larger payload space). Toyota, General Motors,
Daimler, Volvo and Hyundai all have announced plans for long haul,
big rig hydrogen trucks1.
“It’s clear that hydrogen fuel-cell trucks are
needed,” said Andrew Lund, Toyota’s chief engineer for the
technology quoted to the Wall Street Journal article. “They provide
technical solutions that other technologies cannot meet in the long
run.” The Wall Street Journal article also highlighted that “There
are major hurdles, including the availability of hydrogen
stations”.
PowerTap Hydrogen Fueling Corp.’s (“PowerTap”)
patented, onsite hydrogen generating fuel station technology will
help lead the charge to increase the USA public hydrogen station
count from under 100 currently to the thousands that are needed
over the next few years.2
The Hydrogen Council expects US$30 billion of
hydrogen infrastructure to be invested globally on hydrogen fueling
and transportation infrastructure1. With government grants,
government loans and carbon credit incentives available, it is
PowerTap’s view that its established technology and IP with
significant previous investments from the USA government and major
private sector companies gives it an advantage as it starts to roll
out its network of hydrogen fueling stations in 2021.
“PowerTap is an established technology with
existing hydrogen fueling stations in the USA,” said Raghu KIlambi,
CEO of PowerTap. “We will be working with strategic partners to
aggressively roll out fueling stations to meet the huge demand for
hydrogen fuel that is imminent.”
About PowerTap
The Company acquired a 90 percent interest in
PowerTap on October 27, 2020 (see the Company’s news release on
October 28, 2020). 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 ORGANIC FLOWER
INVESTMENTS
Organic Flower 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 Organic Flower’s amended and restated investment policy may
be found under the Company’s profile at www.sedar.com.
ON BEHALF OF THE ORGANIC FLOWER
INVESTMENTS GROUP INC. BOARD OF DIRECTORS
“Joel Dumaresq”
Joel Dumaresq CEO+1 (604) 687-2038info@sowinvestments.ca
Learn more about Organic Flower by visiting our website at:
https://sowinvestments.ca/
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 Organic Flower. 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, and the Company’s ability to raise
sufficient funds to execute PowerTap’s plans to build out a North
American hydrogen fueling station network. 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.
__________________
1 Wall Street Journal, "Hydrogen-Fuel Focus Shifts to Big Rigs”,
October 26, 20202
https://www.washingtonpost.com/technology/2020/02/26/hydrogen-fuel-cell-cars/
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