Product Launch
June 06 2006 - 3:02AM
UK Regulatory
RNS Number:0903E
Clean Air Power Limited
06 June 2006
For immediate release 06 June 2006
Clean Air Power plc
("Clean Air Power" or "the Company")
'Genesis' Dual-Fuel(TM)product launch
Clean Air Power plc (AIM : CAP) today announces an important technology
milestone with the launch of a new core product, the Genesis Dual-
Fuel(TM)system. The first Genesis vehicle was delivered on-time to Warburtons
bakery.
The Genesis Dual-Fuel(TM)system is a generic, retrofit technology which is
applicable to any heavy goods vehicle. This enables vehicles to substitute a
high proportion of natural gas for diesel fuel, with similar efficiency and
performance as the diesel truck. This can save up to #10,000 per vehicle, per
annum in fuel costs.
Genesis is based on Dual-Fuel(TM)technology developed by Clean Air Power,
already in use on over 1600 vehicles. The technology uses natural gas,
ignited by a small injection of diesel, to power the virtually unmodified diesel
engine. Dual-Fuel(TM)delivers diesel-like performance and efficiency whilst
reducing harmful emissions and CO2.
Genesis is an aftermarket product which has been developed to be generic,
applicable to most Euro 3 heavy trucks. The product will be launched on a DAF
CF85 platform and will be available in both right and left-hand drive with the
ability to operate on either compressed natural gas (CNG) or liquefied natural
gas (LNG).
This initiative is soon to be followed by a Genesis application to the Mercedes
Axor vehicle platform. The first prototype Axor vehicle is part of a trial with
a major supermarket to evaluate the benefits of operating on clean natural gas.
Through Genesis, Clean Air Power provides customers with the commercial and
environmental benefits of operating on natural gas. With the choice of the DAF
CF85 (the UK's most popular truck, with 22% of the market) and the Mercedes Axor
(Fleet Truck of the Year 2005) these developments appeal to the company's widest
customer base. Further Genesis-equipped vehicle brands will follow according to
customer demand.
John Pettitt, Chief Executive of Clean Air Power, commented;
"Genesis delivers significant and practical fuel-cost saving to the operator of
around #10,000 per truck, per year. A Genesis Dual-Fuel(TM)truck could save up
to 25 metric-tonnes of CO2 per year, compared to its diesel stable-mate. If the
whole of the UK's articulated lorry fleet were to be equipped with Genesis, the
total CO2 saving would be approximately 3.5 Million metric tones per year -
approximately 2% of the UK's total CO2 output. I am sure our technology can make
a significant, positive and vital contribution in the future."
For further details please contact
Clean Air Power Tel: +44 (0) 1772 624499
John Pettitt, Chief Executive
Peter Rowse, Finance Director
Steve Whelan, Technology Director
Buchanan Communications Tel: +44 (0)20 7466 5000
Charles Ryland/Ben Willey/Ben Romney
NOTES TO EDITORS
* Clean Air Power began trading on London's Alternative Investment Market
(AIM:CAP) on 28th February 2006
* Founded in 1991, the company is an active technology developer with over
58 patents held and pending worldwide. Clean Air Power has a proven track
record in providing customers with a rapid return on investment and
remarkably low total cost of ownership. Their technologies meet even the
most stringent local emissions regulations without sacrificing diesel's
formidable power or efficiency.
* Dual-Fuel(TM)is currently used in over 1,600 vehicles worldwide by more
than 50 customers.
* Clean Air Power has offices in Oxford, UK; facilities in Houston, USA and
Leyland, UK and research and development in San Diego, USA.
* Around 590,000 heavy-duty diesel trucks are sold each year in the world.
The total global diesel engine market is worth $40 billion and diesel
engines form the backbone of most economies: both the UK and the US move 80
per cent or more of all freight by heavy-duty diesel engine powered
transport.
* The Company plans to increase its market penetration in the UK,
Australia and the US. Its goal is to become a major global provider of
combined diesel and natural gas technology solutions to truck hauliers
worldwide by offering operators a generic retrofit Dual-Fuel(TM)solution,
known as "Genesis" while developing partnerships with leading engine OEMs.
* Dual-Fuel(TM)technology enjoys considerable competitive advantages,
including:
- Fuel cost savings that result in a conversion cost payback period as short
as 12 months and an average payback period of between one and two years.
- Diesel-like performance and efficiency alongside the benefit of emissions
reduction associated with natural gas vehicles.
- Proven technology, with more than 1,600 trucks fitted with Dual-Fuel(TM)
converted engines worldwide.
- No need for any major modifications to the existing platform and the ability
to switch seamlessly between natural gas and diesel.
- Forecast continuation of a significant price differential between diesel and
natural gas over the next 25 years.
- Proprietary technology, know-how and strategic relationships across all
business lines.
* In addition to combined diesel and natural gas fuel systems for
heavy-duty vehicles, the Company focuses on two further product lines: a
profitable natural gas engine components business and an emissions reduction
technology business focused on reducing the emissions of heavy diesel
engines used in power generation and pumping.
* The Climate Change Programme review projects that new and existing
policies would deliver a cut of 15 to18%. The government wants people to cut
their personal emissions and is promising a stricter emissions cap for
industry. It is also pledging #80m over next three years for microgeneration
projects and tighter building regulations.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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