PowerTap Hydrogen Capital (NEO: Transfer) this morning indicated that it has begun The tactic of current process a strategic consider. Primarily, it seems the consider pertains As to if or not the agency will elect to take Definitely one of its subsidiaries, PowerTap Hydrogen Fueling Corp, public by way of a particular objective acquisition company transaction.
As with all strategic considers, The agency has indicated that It is going to be considering A selection of decisions for the agency To maneuver forward. Such decisions embrace worldwide joint ventures, strategic investments, and mergers, Collectively with the SPAC method talked about.
Commenting on the potential for the subsidiary to damaged off from The agency And launched public by way of a SPAC, CEO Kilambi commented, “In mild Of numerous inquiries We now have acquired from potential strategic companions globally And a quantity of completely different USA listed SPACs over the previous few months, we decided it was prudent to retain monetary advisors and conduct A right course of To maximise shareholder worth.”
Such a transaction would see the companys onsite hydrogen manufacturing tech put Proper into a separate listed car, with the car To Think about clear power and hydrogen, whereas probably turning into significantly capitalized.
Further information Is about to be launched Provided that the board elects to go this route.
PowerTap Hydrogen Capital final traded at $0.57 on the Neo Commerce.
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