TORONTO, May 04, 2023 (GLOBE NEWSWIRE) -- Alkaline Fuel Cell Power Corp. (NEO: PWWR) (OTCQB:ALKFF) (Frankfurt: 77R, WKN: A3CTYF) (“ PWWR ” or the “ Company ”), a diversified investment platform developing affordable, renewable, and reliable power and cleantech, is pleased to announce that further to its April 24, 2023 news release, effective today, May 4, 2023, the Company has changed its name from Alkaline Fuel Cell Power Corp. to Cleantech Power Corp. (“ Name Change ”). The new name has been chosen to better reflect the focus of the Company’s business. The Name Change was approved by the NEO Exchange. The Company will keep its trading symbol on the NEO Exchange “PWWR”. The Company has changed its trading symbol on the OTCQB from “ALKFF” to “PWWRF”.

The Company's new CUSIP number is 18453N103 and its new ISIN is CA18453N1033.

Additionally, the Company’s website www.cleantechpower.ca along with the Investor Presentation has been updated.

“Cleantech Power is synonymous with our brand and focus and who we are as we develop and deliver affordable, renewable, and reliable power to the people”, stated Frank Carnevale, CEO of Cleantech Power Corp. “We have a unique story on how we are leveraging leading cleantech to deliver more affordable power solutions to our customers”.

The Name Change will not affect the rights of the Company's shareholders. There will be no consolidation of capital associated with the name change. Shareholders will not be required to take any action in connection with the Name Change. Issued certificates representing common shares in the capital of the Company will not be affected by the Name Change and will not need to be exchanged.

ABOUT ALKALINE FUEL CELL POWER CORP. (NEO: PWWR)

PWWR is a diversified investment platform developing affordable, renewable, and reliable power and cleantech. We bring ‘Power to the People’ today, combining a stable revenue stream with a future- forward vision to commercialize our advanced hydrogen fuel cell technology to meet the massive global market need, and ultimately generate compelling returns for investors.

PWWR is well positioned to deliver ‘Power to the People’ in the global energy transition while offering a diversified cleantech growth platform for investors.

Further information is available on the Company website at www.cleantechpower.ca and the Company encourages investors and other interested stakeholders to follow it on: Twitter , Facebook , LinkedIn , Instagram , TikTok and YouTube .

For further information, please contact:

Frank Carnevale
Chief Executive Officer
+1 (647) 531- 8264
fcarnevale@cleantechpower.ca

Forward-Looking Information

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. In certain cases, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “achieve”. Forward-looking statements in this news release may include, but are not limited to, the Name Change and statements with respect to the Company’s technology, intellectual property, business plan, objectives and strategy .

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward- looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

NEITHER THE NEO EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE NEO EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.