Benzinga | Nov 29, 2021 06:34AM EST

PowerTap, Capstone Green Energy Ink Strategic Licensing, Contract Manufacturing Agreement

Capstone Green Energy Corp (NASDAQ:CGRN) and PowerTap Hydrogen Capital Corp (OTC:MOTNF) have signed strategic manufacturing and licensing agreement for the prototype manufacturing of PowerTap's proprietary 3rd generation hydrogen production and dispensing station. Financial terms were not disclosed.

* Each PowerTap Unit is modular in design and utilizes PowerTap's technology to produce and dispense blue hydrogen onsite.

* PowerTap is focused on meeting the large deficiency in hydrogen infrastructure via its unique PowerTap 3 on-site hydrogen production and fueling system.

* The PowerTap 3rd generation turns natural gas, including renewable natural gas, into onsite hydrogen.

* Capstone Green Energy will manufacture the small footprint product for PowerTap for use in fueling stations and as part of Capstone's distributed energy low emission microgrid solutions.

* Price Action: CGRN shares closed higher by 1.2% at $5.04 and MOTNF higher by 5.49% at $0.39 on Friday.