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Clean Air Power Ltd (CAP)

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Tuesday 18 February, 2014

Clean Air Power Ltd

Major Order for Dual-Fuel Product

RNS Number : 2773A
Clean Air Power Limited
18 February 2014
 



18 February 2014

 

Clean Air Power Limited

("Clean Air Power" or the "Group")

 

Major Order for Genesis-EDGE Dual-FuelTM Product

 

Clean Air Power (AIM: CAP), the developer and global leader in Dual-Fuel engine management systems for heavy duty vehicles, is pleased to announce that it has received an order for 19 Genesis-EDGE, Dual-FuelTM trucks from a major distribution company in the UK. The order has a value to Clean Air Power of around £0.5 million.

The trucks will be fitted with Clean Air Power's Genesis-EDGE system at its facility in Leyland, UK and delivered during Q1 2014. The customer already operates more than 100 Clean Air Power Dual-Fuel vehicles in its UK distribution fleet and this repeat order demonstrates their continuing satisfaction with Clean Air Power's products.

John Pettitt, Chief Executive of Clean Air Power said:

"This is a significant follow-on order for our Genesis-EDGE product from this customer and adds to 28 Dual-Fuel systems that we have already delivered so far this year following orders placed in 2013. The strong demand for our products is being driven by the expansion of Europe's natural gas refuelling network and the increased supply of vehicles available to retrofit as a result of the high level of late Euro 5 vehicle purchases made at the end of 2013. With further European orders expected imminently and the launch of new products in the US and Russia coming later this year I am confident that the Company is on-course to meet market expectation in 2014."

For further information, please contact:

 

Clean Air Power

John Pettitt, Chief Executive

Peter Rowse, Finance Director

 

Tel: +44 (0)1772 624 499

Citigate Dewe Rogerson

Malcolm Robertson

Chris Gardner

 

Cantor Fitzgerald Europe

David Foreman / Mark Percy (Corporate Finance)

David Banks / Paul Jewell (Corporate Broking)

 

Peat & Co

Charlie Peat

Andy Cuthill

 

 

 

 

 

 

 

Tel: +44 (0)20 7282 2867

 

 

 

Tel: +44 (0)20 7894 7000

 

Tel: +44 (0)20 7894 7632

 

 

Tel: +44 (0)20 3540 1721

 

 

 

 

Notes to Editors

About Clean Air Power

Clean Air Power is the developer and provider of Dual-Fuel™ combustion technology for heavy duty diesel engines. Dual-Fuel™ engines substantially cut fuel costs and carbon emissions without sacrificing the original engine's characteristic efficiency or reliability. Clean Air Power is well positioned to assist corporations and governments to deliver on their environmental commitments while at the same time reducing transport operators overheads.

Initially founded in the USA in 1991, around £50m has been invested in developing the technology with the result that 69 patents are currently held or pending. The holding company of the Group is based in Bermuda with operational subsidiaries in the UK, the USA and Australia. The Group was admitted to the AIM market of the London Stock Exchange in February 2006.

Further information on Clean Air Power is available at www.cleanairpower.com

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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