Vancouver, British Columbia, Canada – April 27, 2021 – VPN Technologies Inc. (CSE: VPN, OTCQB: SRBBF, Frankfurt: 6GQ1) (“VPN Technologies”, or the “Company”), an emerging Virtual Private Network solutions provider, is pleased to announce the formation of a wholly owned subsidiary, Greentech Hydrogen Innovations Corp. (“Greentech Hydrogen”).
The initial objectives for Greentech Hydrogen include identifying opportunities in both the science for the purpose of commercialization and the development of products and services addressing the growth in a wide range of long-term hydrogen businesses related to global energy policy objectives and targets.
Recent findings suggest hydrogen could ultimately account for one third of global energy demand, with some calling for a potential $10 trillion market. The International Renewable Energy Agency (“IRENA”) believes hydrogen is perhaps best suited to meet 30% of global energy demand that is not readily decarbonized (even with electrification). Long-haul transport, city buses, rail, marine and aerospace are clear candidates for hydrogen adoption. The recently published Hydrogen Strategy for Canada details a path for the country to lead in innovation, intellectual property and industry. Canada has already surged to account for over 1/2 of fuel cells deployed in buses globally which make use of Canadian powertrain technology.
Despite the rapid growth of electrification throughout the economy, roughly one-third of global energy related emissions come from sectors for which there are no economic alternatives to fossil fuels (IRENA, 2017). These emissions originate primarily from energy intensive industrial sectors and freight transport.
VPN Technologies President & CEO, Paul Dickson, stated, “The recent appointment of hydrogen experts Ingleton, Cavaliere and Sengupta have given VPN Technologies access to the scientific community specializing in the advancement of green technologies. Greentech Hydrogen will be used as the operating company to access grants currently being offered, hold specific assets or potential future acquisitions and commercialize potential discoveries and patents.”
About VPN Technologies Inc.
VPN Technologies Inc. is a provider of Virtual Private Network (VPN) services to the retail market and SMEs.
The Company’s flagship service is VPNLogix.com.
On Behalf of the Board,
President & CEO
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of VPN Technologies Inc. The forward-looking information is based on certain key expectations and assumptions made by the company’s management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the company can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and the company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
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