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Hydrogen in Motion raising $5 million with tax advantaged OM

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We’d like to introduce you to Hydrogen in Motion, a leader in the development of innovative hydrogen storage solutions. With climate change now a global problem, Canada, along with Japan, U.S.A., China, South Korea, Mexico, Brazil, India, and the EU have established or is proposing fuel economy or greenhouse-gas emission standards for passenger vehicles, light trucks and commercial vehicles.

Additional Information:

Company: Hydrogen in Motion
Website: http://www.hydrogeninmotion.com/
Date Published: Oct 26, 2015
Transcript: Available

Video Transcript:

I’m Amanda Rose Schellenberg for Investmentpitch Media

We’d like to introduce you to Hydrogen in Motion, a leader in the development of innovative hydrogen storage solutions.

With climate change now a global problem, Canada, along with Japan, U.S.A., China, South Korea, Mexico, Brazil, India, and the EU have established or is proposing fuel economy or greenhouse-gas emission standards for passenger vehicles and light trucks and commercial vehicles.

With hydrogen, the only thing coming out of your exhaust pipe is water vapor.

However, hydrogen has several key drawbacks.

The first issue is storage. As a gas at room temperature, storage is both difficult and expensive.

The second problem is refuelling. As the hydrogen highway has failed to develop as planned, there are a limited number of hydrogen stations available.

There are a couple of reasons for this, they are very expensive, and generally require twice the footprint of a regular gas station.

Hydrogen in Motion is developing proprietary, portable, non-compressed hydrogen tanks for storage, whereby 5 tanks can be stored in a vehicle’s trunk, connected in series, and be individually swapped when empty.

The company will deliver replacement tanks to the driver’s residence in the same way bottled water is delivered, providing a convenient and turnkey solution to automakers and owners of hydrogen fuel cell vehicles.

This alleviates the anxiety for drivers concerned about getting stranding miles from the nearest re-fuelling station.

The company is pushing to be the first to market to establish their proprietary tank as the USB of hydrogen storage, providing a universal solution to consumers

Competitors’ solutions, such as compressed or cryogenic tanks, or metal hydride are expensive, energy intense or just not efficient.

The company is looking at other market opportunities including bulk transport and storage, remote sites, and automotive manufacturers.

The company plans to start delivering prototypes tanks to industry partners for their evaluation in 2017.

Engineering and trials for automobiles will start also in 2018 with a longer test and development cycle.

Trials for bulk transport and storage will start in 2019, with rollout starting in 2020.

Hydrogen in Motion which to date has been funded by the founders and government grants, plans to raise up to $5 million by way of an offering memorandum.

The company has set a maximum of 2,762,300 common shares, with the first 500,000 shares priced at $0.50, escalating to $5.00 per share in stages, as the offering proceeds.

The company is initially seeking $1.5 million to complete a scale prototype of the tank, which will trigger a matching non-dilutive funding of $500,000 from government sources.

In 2016, the company plans to raise the balance of $3.5 million for demonstrations, in addition to seeking pre-contract funding from potential customers and government sources.

The minimum subscription has been set at $10,000, with exemptions subject to the company’s approval.

As Hydrogen in Motion is registered as an Eligible Business Corporation, or EBC, under the Small Business Venture Capital Act of British Columbia, the company will be able to issue tax credit certificates for 30% to investors who are residents of British Columbia.

An individual investor can also deposit the VCC shares into an RRSP or spousal RRSP, further reducing the after tax cost to about 25% for investors in a higher tax bracket.

InvestmentPitch has produced an educational video which fully explains the tax advantages of the BC tax credit, which may be viewed by visiting www.investmentpitch.com and entering “tax credit” in the search box.

The company has built a strong team consisting of worldwide experts on hydrogen storage, headed by Grace Quan, CEO, who brings fiduciary accountability to the table with her CPA/CMA and MBA credentials.

VP Engineering, Mark Cannon has more than 30 years’ experience bringing concepts to commercialization.

For more information, please visit the company’s website, www.hydrogeninmotion.com or contact Douglas McInnis, VP Corporate Development at 604-618-5813 or email douglas.mcinnis@hydrogeninmotion.com or Grace Quan, CEO, at 778-888-9590 or email grace.quan@hydrogeninmotion.com

I’m Amanda Rose Schellenberg for Investmentpitch Media