PowerTap Hydrogen Capital Corp. (NEO:MOVE.AQN, OTC:MOTNF) said it has appointed Margarito Rodriguez as its chief financial officer and Byron Berry and John Zorbas to its board of directors effective immediately.
The company noted that Rodriguez is a California CPA with over 13 years of professional experience in public accounting and was recently CFO at the company’s subsidiary PowerTap Hydrogen Fueling Corp. He specializes in financial reporting and general advisory and has experience across sectors, including energy, transportation/logistics, and consumer goods.
Berry, meanwhile, has over 25 years of experience advising, operating, and financing technology companies. He was Canada's top-ranked Software Technology Analyst, a leading investment banker with broad experience in the capital markets from seed-stage financings to multi-billion M&A transactions and financings, the company said.
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Zorbas is the CEO of Captor Capital and an entrepreneur with a proven track record in the metals exploration and development industry and the investment banking. He also held senior advisory positions in various facets of business including operations, marketing, sales, strategic planning and structured finance.
The company also announced the resignations of board members Theo Van Der Linde and Brendan Purdy, and CFO Joel Dumaresq. The company thanked them for their contributions.
The company also said that Salim Rahemtulla, president of the USA subsidiary, PowerTap Hydrogen Fueling Corp, has been appointed CEO of the USA subsidiary. Raghu Kilambi continues to be CEO of the parent company and CFO of the USA subsidiary. Rahemtulla has also been appointed to the important industry role as chairman of the On-Road Mobility Initiatives Committee and reappointed to the California Hydrogen Business Council (CHBC) board of directors as a Director at Large.
“We are delighted to be welcoming the depth of experience Byron and John bring to the PowerTap Board and look forward to working with them as we bring our innovative technology to the market. Margarito’s previous contributions to the USA subsidiary and qualifications prepare him well for the CFO role. Salim’s leadership in the USA subsidiary and in the CHBC make him a logical choice to be CEO of the USA subsidiary,” said Kilambi in a statement.
The company also said that under its shareholder-approved, restricted share unit plan it has granted an aggregate of 22,750,000 units to directors, executives and consultants of PowerTap and the USA subsidiary.
PowerTap Hydrogen Capital, through its wholly owned subsidiary, PowerTap Hydrogen Fueling is focused on installing hydrogen production and dispensing fueling infrastructure in the United States.
Contact the author at jon.hopkins@proactiveinvestors.com