Clean Power Down Near 4% As Increases Investment in PowerTap to 94.5%
04:32 PM EST, 02/05/2021 (MT Newswires) -- Clean Power Capital Corp. (CSE: MOVE), an investment company focused on the health and renewable energy industries, said after markets closed Friday it has increased its investment in PowerTap Hydrogen Fueling Corp. by an additional 4.5%
Vancouver-based Clean Power Capital initially purchased a 90% equity interest in PowerTap on Oct 27, 2020, when it was known as Organic Flower Investments Group Inc. California-based PowerTap is working to build a network of hydrogen refueling stations for vehicles.
Terms of the original 90% equity interest acquisition was not disclosed, though the company said Friday the additional 4.5% cost 18,000,000 common shares at a deemed value of $2.72 per share, implying a value of $48.96-million.
The company's Canadian Securities Exchange-listed shares closed down $0.10 or 3.83% to $2.51 per share on Friday.